Quiet trading session

During the session on Friday, we believe that it will be a fairly quiet trading session as there are not too many announcements to move the market. The European Union announces its Unemployment Rate, while the University of Michigan releases its Consumer Sentiment numbers. Both of these should move the stock markets in general, and as a result we are buyers of calls in general.

CAC looking for support below

The Parisian index should find support near the €4800 level, and most definitely near the €4700 level. On signs of a bounce from either one of those areas where more than willing to start buying calls. We also are willing to buy calls on short-term supportive candles as we are closer to the bottom of the tight consolidation that we have been trading in for the last several sessions.

NASDAQ 100 building pressure to the upside

It appears that the NASDAQ 100 continues to try to break out above the €4700 level. With that, if we can get above there we believe that the market then has the freedom to reach towards the €5000 level. With that being the case, we have no interest whatsoever in buying puts. We think pullbacks should continue to offer call buying opportunities on signs of support, just as a move above the aforementioned €4700 level sends this market higher.

S&P 500 looking to break higher as well

The S&P 500 looks very bullish in general, and as a result we have no interest whatsoever in buying puts. The 2100 level above should continue to be an area that the market continues to aim for, as we have formed a bit of a hammer during the day on Thursday. We believe that the market should grind higher but it is going to have a lot of noise above. With this, we are buyers of calls but recognize that the need to be short-term in nature.