Daily Market Analysis – November 20, 2015

Looking at the session on Friday, we have a speech by Mario Draghi out of the ECB, and a plethora of Canadian announcements that could move the market slightly, but quite frankly it’s very difficult to imagine that we will have a monumental day by any stretch of imagination.

1 – Ultimately, we believe that the US dollar continues to strengthen overall, and any pullback has to be looked at as potential value. In fact, we don’t really have another currency that we prefer over the US dollar, so we will continue to buy positions based upon US dollar strength.

2 – When a pretty explosive session in gold during the session on Thursday, but ultimately we know that there is a massive amount of resistance between here and the $1100 level, so we are looking for resistance as the market should continue to show signs of failure. We are put buyers only but we need to wait to see whether or not there is some type of selling pressure in order to take advantage of the inherent weakness in precious metals.

3 – Stock markets in general want to go higher, but they are going to be choppy. Longer-term calls will be the way to go, especially when you are speaking of European indices, but ultimately we have no interest in buying puts at all when it comes to stock market indices around the world.