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Originaly posted by Michael Hodges.

U.S. Markets Making New Highs

S&P 500
Call/Put = Call
Entry = Below 1800
Expiration = One Week

Welcome to Thanksgiving week, a traditionally bullish week for the markets. Adding to the picture is the economic tailwind that has been pushing the markets higher. Expectations for Black Friday spending, economic data and plain old bullishness should combine to create new all time highs by the end of the week. On a technical perspective the markets are bullish in the long and short terms.
In the short term both MACD and stochastic are bullish, pointing to higher prices. There is a glaring divergence present in the MACD but with the longer term technicals in place I don’t think the correction it predicts is coming just yet. Longer term the indicators are bullish as well with momentum on the rise going into the opening of the week. The U.S. markets are being lifted on QE and the economy. For now the economy is good enough to be OK but still need the stimulus. Until that changes I am bullish. This week I am trading a call with one week until expiry and a target entry below 1805.



German Bulls

DAX
Call/Put = Call
Entry = Below 9225
Expiry = One Week

Germany is still the place to be. There is growing speculation that the rest of the EU isn’t doing so hot but Germany is growing, a little. The ECB indicated that more QE could be on the way to help the EU and that will surely help Germany as well. I am still bullish on the DAX and will be trading calls this week. My target entry is below 9275 with one week until expiry.



Rusty Gold

Gold
Call/Put = Put
Entry = Above $1245
Expiration = One Week

Rust is OK on your “gold” if you are talking about antiques. Since we’re talking about real gold tarnishes are not so great. Gold prices fell again today, below the $1250 level to hit levels not seen for nearly half a year. The massive amounts of bearishness may be over but there are still no signs of bullish life in this market. Until there is a reason to get long I see this metal retesting lows around $1200 or even going lower. I am trading puts on gold with a target entry above $1245 and one week until expiry.