US CPI To Drive Market: May 22, 2015
Binary Options Strategy | May 22, 2015 01:49AM ET
Looking at the markets for the Friday session, the Consumer Price Index numbers out of the United States are probably going to be the sole market moving event, and that of course will affect both the US dollar and the stock markets in general. So having said that, we find that the S&P 500 turning back around after initially falling on Thursday as a sign of positive expectations. We believe that short-term pullbacks in the S&P 500 will continue to offer call buying opportunities and that the S&P 500 will eventually break out to a fresh, new high.
Looking at the silver market, we are still grinding around the $17 level. We believe that having a couple of days of stability after the significant fall shows that buyers are stepping back into this market, and that calls should be bought. We would be more than willing to buy calls on a break of the highs from the Thursday session as we believe silver will head towards the $17.50 level and then possibly the $17.75 level.
Looking at the FTSE 100, we initially fell during the course of the session on Thursday, but found enough support below the 7000 level to bounce back above it and form a nice-looking hammer. With this, we believe that the FTSE is going to grind its way towards the 7100 level.
The EUR/USD pair tried to rally during the course of the session on Thursday, but struggled at the 1.12 handle. However, we see a massive amount of support at the 1.10 level, so we are simply looking for supportive candles on short-term charts in order to start buying calls again and have no interest in buying puts.
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