Looking at the FTSE, you can see that we found some stabilization during the day on Wednesday. Because of this, that is a market in proof been over what we had seen during the Tuesday session, and we believe that buying calls will more than likely be the way to go going forward. On a break of the top of the range from the Wednesday session, we are bullish of the FTSE yet again.
The S&P 500 once the same situation. Basically, and as a result we believe that the S&P 500 will find buyers again. We look at a break above the top of the range for the session of Wednesday’s trading to be a buying opportunity as well, and therefore we are bullish only. Even if we fall from here, we recognize that there is a massive amount of support all the way down to the 2000 handle. Any supportive candle between here and there is an excuse to start buying calls in our opinion.
Looking at the silver markets, we broke down quite a bit, but are still above the all-important $15 handle. Because of that, it appears that we can buy calls on supportive daily candles. If we get them. On the other hand though, if we break down below the $15, expect silver to fall quite a bit farther, as it was such important support, and should attract quite a bit of attention.