Hello, it's Francis Hunt, the Market Sniper. You're with CantosCharts and we're looking at equities today.

I've got the S&P 500 up, and with that a purple line that's gold-relative. In other words, I'm comparing how industries have done relative to the gold price, given the amount of volatility we've had on currencies.

After a fairly bearish patch, where the industries have come off quite a bit, it seems there's been somewhat of a rebound. I don't have a particularly strong view of the market in terms of current direction. I believe medium-term, we're probably going to see renewed bullishness, but that we may range-trade for a while. I don't feel the lows are going to be taken out, and I don't feel the highs are going to be threatened too soon.

So technically, it isn't a great deal for me to deduce from this, clearly the key level being in and around 1150 on the upside, and just above 1000 on the low side.

More interestingly for me is that relative to gold, equities are still not doing particularly well. So in nominal terms, they've done okay. But in real terms, if we consider gold the store of value, not particularly in this scope for further upside relative to this final store of value.

So I'm going to look more at individual shares. I think it's going to be a stockpicker's market.

I quite like Jardine Lloyd Thompson for to put on your watch list. Already looking quite perky. There's been clear constriction, potentially a breakout on the way, and I would certainly put that one on your watch list to keep an eye on.

Someone I've traded with great success was the Yell Group. That was in and around August last year. Very, very tight volatility ironing out followed by a substantial break to the upside. Most of this has been given up. However, it's found support at the peripheries of the previous pattern, and is showing also some signs of life.

Unite Group is also one I like. There's been a lot of bumping up against the ceiling, three times at the £3.10 level, yet the lows are getting higher ever successively. Many would refer to that as a ascending triangle that also falls into the Hunt volatility funnel. And keep an eye on that, and look to use buy stops to enter on any breakouts of the £3.10 level.

Great Portland Estates is one I'm also watching. Big gap, the gap has yet to be shut. The gap was set up in June of last year. However, we're getting the rising bottoms and the highs are also constricting. So there's a bit of a volatility ironout. Even within that range, I've put dotted lines and you can see the trade has got really, really tight. I like buying on low volatility when the market goes to sleep. It's usually a reinforcement of the trend, which in this case would be to the upside, when the volatility returns.

One for those that watch the American market, Lockheed Martin. A similar pattern. We're getting lows coming in lower, yet the highs are coming in to meet them in a constriction of the volatility, and also some sign of moving towards the upside of the range. So look out for that.

All of these offering quite substantial targets.

That's Francis Hunt, the Market Sniper, for CantosCharts. I look forward to catching up with you again soon.