With almost nothing to move the markets during the session on Monday, we believe that it will be a very technically driven session. Because of this, the markets should continue to follow the overall trends, and that opens up quite a few trading possibilities.

1 – Although energy markets are starting to show signs of life, we think this will be short-lived. After all, the markets should continue to follow the longer-term trend. This market has been sold off rather drastically, and as a result we feel that energy will offer put buying opportunities going forward. If you do decide to take call based positions, you will have to be very quick to take profits in our estimation.

2 – The US dollar may be changing its to the bed, simply because we have seen the Federal Reserve Chairwoman Janet Yellen suggest that perhaps the Federal Reserve will have to wait a little longer than anticipated to raise interest rates. Because of that, it’s very likely that the US dollar will continue to soften over the longer term. It’s difficult to imagine a scenario in which the rest of the world suddenly ignores this type of information. There are few central banks around the world that can even hold a candle to the Federal Reserve when it comes to devaluing its own currency.

3 – Precious metals will continue to be the place to be overall, as the devaluation of the US dollar continues. If that’s the case, simply look for pullbacks that offer call buying opportunities going forward. We are in the very beginning of a longer-term uptrend when it comes to the precious metals markets.