Interest-rate decision out of London

Frankly, with Nonfarm Payroll numbers coming out tomorrow, the only thing that we think will actually move the markets will be the interest-rate decision coming out of the Bank of England. This means of the British pound and the FTSE could be movers, but ultimately we feel that employment numbers out of America are going to be much more important to traders than anything else at the moment.

Gold markets continue to consolidate

Gold markets as you can see continue to consolidate between the $1080 level on the bottom, and the $1100 level on the top. With this, we feel that the market continues to bounce around in this general vicinity, and as a result we are looking for some type of supportive candle on the short-term chart to serve buying calls. If we break down significantly below the $1080 level, this would typically be a put buying opportunity but with the jobs number coming out and its potential effect on the US dollar, we may let that go until Friday.

DAX shows real strength

The DAX continue to go higher during the course of the session on Thursday, and as a result we are looking for short-term pullbacks in order to serve buying calls. We believe that the market should then go to the €11,800 level, and a move above there just as us hanging on for even higher levels. The DAX is strong enough that we have noticed whatsoever in buying puts.

Oil markets fall again

The WTI Crude Oil market initially tried to rally during the course of the session on Wednesday, but found far too much in the way of resistance above the $46 level to continue going higher. Because of this, we ended up turning back around and testing the $45 level. If we break down below there, we think it is a put buying opportunity down to the $42 level as it was the most recent low on the longer-term charts. We have no interest in buying calls.