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By: Adam Stone
December 24th 2013 6:12am GMT, London UK

US stocks markets have been completely unfazed by the prospect of the Fed’s expected start to tapering of the stimulus plan. Indices have turned their backs entirely from the worry about economic indicators not exactly robustly expansionary. The markets as a whole have completely blocked out the notion that geo-political strife still exists and that the US military is still finding new and interesting way to wield its might. Nothing seems to affect these markets. And again, the S&P shot up higher yesterday, leaving behind only the dust of the naysayers and traders who didn’t give it a chance to keep popping up higher.

The index climbed 0.53% and finished the day at 1827, breaking the resistance levels along the way. This should have yet again allowed binary options traders to take up options with little in the way of risk on multiple occasions. Of course, we’ve been singing the tune of the S&P for many months now and have counted over 72 occasions where the index has broken resistances without retreating during the same day thus eliminating the fear of causing a false break. On only 4 days was this untrue and the market did break back. But not yesterday where the market again held true to the statistical norm we now rely on to create some of the best signals seen in the market for many years. The sheer consistency is to be marveled at.

For the shortened holiday trading day ahead, note that liquidity will be extremely low and many options will not be available. Despite this quiet day, there will be some major news expected in the US at 13:30 GMT. The news events include the release of the Durable Goods figures in the US. Markets expect a release of 2.0% as compared to the negative figure from last month. This could help lead stocks even higher, especially if the release is better than expected. The news is probably the only momentum building event to expect today.

For forex binary options traders the big move made by the USD yesterday pushed the EUR/USD below the support level we were monitoring for much of the week at 1.3705. We were actually waiting for the break for over 6 days and since then, the market actually broke back higher. This means that the EUR/USD is now back in the same entrenched stance it was in for more than 5 days. But for binary options traders this could mean ample opportunity to shake out a few profitable trades before the market grinds to a complete halt later today. So until such time as liquidity drops, look for the 1.3705 level to the downside as a pivot point for both reversal strategies as well as break strategies. In other words, when the market tests this boundary, opt for Up options. But once a break occurs and the forex pair heads below the support, move in with bigger and longer term trades to the down side.

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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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