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During the session on Tuesday, there will be almost nothing to move the markets as far as economic announcements are concerned, so because of that we anticipate that it will be a fairly calm and quiet session. However, there are a couple of things that we see on the charts that could come into play.

1 – The US dollar looks likely to rally a bit during the session, and continue to offer opportunities to make money by betting on the greenback. With that, we believe that the US dollar will continue to strengthen in general, but the rally will more than likely be very short-lived. We are thinking may be just today and possibly tomorrow before markets turned back around.

2 – This should offer value in the commodity space, especially when it comes to precious metals. Because of this, we are not willing to buy puts in the gold or the summer market, and are simply waiting for some type of supportive candle in order to start buying those calls again. However, we think that the other commodities could very well benefit with the US dollar turning back around and the next couple of sessions.

3 – European indices look like they are trying to rally, but it is going to be more of a grind higher. With that, we are buyers of calls on short-term pullbacks, but do not have a lot of faith in the longer-term move quite yet. Given enough time, we do anticipate that those markets will break out to the upside, but recognize there’s a lot of work to do in the meantime.