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During the day on Friday, we get a handful of announcements, but nothing important that will move the market. That being the case, the market looks as if it is more than likely going to simply follow what we’ve seen recently. Some of the running trends that have taken hold of the market should continue.

1 – Energy looks as if it is going to struggle during the session, as it has had far too much of a rally recently, a special considering the supply and demand situation. Because of this, longer-term it’s likely that the put buyers will continue to run the market but keep in mind that there’s been a lot of volatility and we believe that could of course continue to be the case with most energy markets at this point.

2 – The Euro looks as if it is pulling back a little bit in general, and having said that it looks as if we are trying to find enough bullish pressure to turn the market back around as the Euro recently had seen a bit of a reprieve. This is especially true considering that the US dollar has been struggling. After all, the Euro tends to be a bit of the “anti-dollar” type trade in general.

3 – Precious metals got a bit of a rally during the course of the session on Thursday, and as a result it looks as if the overall long-term uptrend is probably going to continue. Ultimately, a lot of traders are starting to become concerned of the currency war that is going on between several central banks, and that seems to have people looking for hard assets such as gold and silver.