Without a doubt, the biggest mover of the market will be the FOMC Statement coming out later today. There are several announcements out there that could move the market slightly, but at the end of the day the interest-rate announcement and statement is the most important thing. An interest-rate hike is expected out of Washington, but it’s whether or not they can do anymore is going to be what the market has the most interest in.

1 – Most of the trading during the session on Wednesday will be based around the US dollar, and as a result it’s very interesting to see how the commodity markets will move due to this. Stock markets look relatively healthy though, at least in the United States. Because of this, we believe that the US that markets will continue to go higher, and pullbacks should be opportunities to start buying calls again.

2 – Commodities will probably get beaten down a little bit by the time it’s all said and done, so if they rally it’s an opportunity to start buying puts. We have no interest whatsoever in buying commodities as the markets in general are starting to struggle, and of course we still have a longer-term downtrend. Because of this, there’s just no interest in buying calls when it comes to oil, sewer, and of course gold.