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During the session on Monday, we have several Consumer Price Index numbers coming out of the European Union, but beyond that we do not see much in the way of economic announcements that should move the market. Nonetheless, we do see plenty of trends in the marketplace, and we of course will follow them.

1 – It looks as if European indices will continue to be volatile, and perhaps fall during the session on Monday, however, we believe that longer-term they will go higher. We think that a pullback and put buying opportunity should present themselves in the short-term, followed by longer-term call buying opportunities below.

2 – We believe that the precious metals markets will continue to be soft overall, but they could have a little bit of a bounce in order to build up enough momentum to break down finally. With this, we will wait to see if we get some type of resistive candle above in order to serve buying puts again. We have no interest whatsoever in buying calls in this point, because quite frankly the US dollar is far too strong.

3 – Energy markets continue to struggle, so therefore we prefer the US dollar and are negative when it comes to crude oil, as well as other forms of energy such as natural gas. We believe that the Canadian dollar will continue to be soft as well, so we will trade against the Loonie.