The calm before the storm?

During the session on Thursday, there are a handful of announcements to come out during the session, but we recognize that the real attention will be paid to the Friday session when we get employment numbers coming out of the United States. We believe that most of the focus will be paid to technical analysis, and that is exactly how we will look at the markets.

Silver breaks down

Silver is looking to break down yet again, reaching towards $15 and then below there. The fact that the daily candle is a shooting star shows that we should see a significant increase in downward pressure going forward. Ultimately, we have no interest whatsoever in buying calls at this point in time, but recognize that short-term puts should continue to be the way to go going forward.

FTSE ready for move higher

At the FTSE can get above the 6500 level, the market should then reach towards the 6700 level. We are call buyers above the 6500 level, and look at pullbacks as potential call buying opportunities as well, as we see a massive amount of support down at the 6300 level. We have no interest in buying puts.

NASDAQ 100 looking for support

The NASDAQ 100 initially rose during the course of the session on Thursday, but turned back around to form a shooting star. We are above the 4700 level now though, so eventually if we pullback from here we think that there will be buyers to turn this market back around and reach towards 5000 given enough time. On the other hand, if we break above the top of the shooting star, we are buyers of calls they are as well.