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KEEP ON ROLLING

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Markets kept on rolling upwards yesterday and with the way things are going, we don’t see any reason to be concerned with a sudden downturn. The fact is, the effect of the positive jobs data from Friday far outweighed the possible, soon to be, end of quantitative easing. Economically speaking, the creation of jobs is more powerful dollar for dollar over any infusion of cash into the economy. This is the case for many reasons and most of them should be self evident to any binary trader. But the real important aspect about this is that the markets are learning to accept this new paradigm and not trying to buck this trend. Just a couple of weeks ago, the notion that QE3 was on its way out send shudders through the markets.

 

 

However, now that the markets have learned that the last 2 months of data in the jobs markets have nearly reached the level at which the Fed believes capital infusions are no longer necessary, markets haven’t fallen. On the contrary, they continue to head higher and yesterday was no different. The Dow headed higher by 0.59% to 15224, the S&P finished the day up 0.53% to 1640, and the Nasdaq closed 0.16% higher to 1484.

 

 

Binary options traders will like the fact that the day ahead is virtually news free. It’s good as it allows markets to carry on their current trend without the risk of some exogenous event sending markets in a diverging direction without warning. It is important to note that stock index futures are actually heading higher already and with the momentum being built up in other markets, it looks to be a good day for US indices. The Japanese market is closing higher as we write this analysis. The NIKKEI is up 1.64% at the moment and should help push EU markets higher. The whole cycle of this uptrend should assist the following market to open.

 

 

As we mentioned, there’s no news expected for release today and as such, binary trading will focus on current trends but also technical analysis will take front and center. A good example of an interesting technical analysis viewpoint on a stock today is Google (GOOG) stock. The price action here as seen on the charts is pretty amazing. Notice how the stock created a gap to the upside between Friday’s close and Monday’s open. Ordinarily, such gaps are closed rather quickly. However, in this case, the formation looks to be a bit harder to close. It’s unlikely that if the market is in a general uptrend today that this gap will be closed. In fact, binary options traders may actually opt to wait for a break to the upside of the resistance at 910.85. Any break of this level will allow binary options traders to take up options with what looks to be a very low level of risk.

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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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