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Binary options traders got a bit of relief from the end of the corrective move in US stocks, thanks to so decent economic data in the US. After the day started well enough in the Asian session yesterday, most analysts still expected the momentum driven downward pressure to resume in the EU and US sessions. The European session did in fact have a fairly negative day with most major indices heading downward as pressure mounted. The FTSE was a winner for the day, edging higher by 0.21% to 6565 and showing some resilience.

However, the DAX fell just short of a break-even day at a loss of 0.02% to 8664, and the CAC dropped 0.21% to 4186. It seems like those Europeans are pretty hard to please. We were sure that the UN resolutions on Syria would make them quite happy and send markets higher. But alas, it was not to be.

The news can probably be attributed to bringing the US session higher, although to be fair, the economic data probably did more of that as well. 305k was the figure for Initial Jobless Claims, which was rather high in hindsight, but that market got a better reading than expected. Most analysts were awaiting a result closer to 325k and as such, binary options traders watched as US markets rallied for the first time since Wednesday of last week.

No major news is expected today in the markets and binary options traders will focus back on the charts. With basic technical analysis, traders will be able to locate some very solid signals for the day ahead.

For starters, look no further than the S&P. After rallying yesterday by 0.35%, it has positioned itself to make a clear and profitable break above the 1700 resistance. The level, which hasn’t been quite as clear of a resistance/support as we’ve seen in the past for the index, has still managed to provide 60% accurate signals over the span of the last 2 weeks. While severely lower than the signals provided over the last year by the index (51:52 have been correct), it’s still a good index to fall back on. We will likely back off the index if the win ratio for the breaks and signals goes sub 50% and at that point we will take our attention elsewhere. But we need to provide this index the benefit of the doubt after a full year with a near perfect record.

However, if you’ve been scorched by the index over the last few days with some false breaks. Facebook (FB), which we discussed earlier this week, has managed to break past the resistance at 49.38 and stretched the gains above 50. We explained that the break would be a good choice to go with for binary options traders and it didn’t disappoint. Although it took 2 days for the break to come, it did and provided a nice profit for traders. Today, binary options traders may wish to again follow up with the stock if it break yesterday’s high of 50.6.

FB with binary options 27-9-2013

FB with binary options 27-9-2013

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Adam Stone
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Adam Stone

As COO of GOptions, my first and foremost goal is to provide traders with the most up to date info from the markets. I have been trading the markets since 2004 and have been involved with stocks, binary options, and forex trading since then. I have had no formal market education and pride myself on a self taught approach to everything related to trading. I try to focus though on both the technical and fundamental aspects related to each trading day and bring forward the most important aspects of risk/reward in the market.
Adam Stone
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