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With a push from Apple, binary options traders were able to get a nice continuation pattern from US stock indices. Of course, it’s not all apples and sweets for the international markets. Investors of all types are still very hesitant and won’t likely push the major stock indices to new highs. But there’s a bit of space for the market to roam higher without doubt. The S&P closed higher by a wide margin finishing 0.73% higher to 1683. The proximity to 1700 is very important here for binary options traders. The fact is the index looks primed to bust loose and head well past the critical resistance. Unfortunately for binary options traders, they will need to have a bit of patience.

The reason is that it’s going to take at least another full trading day before we are in a good position to see the level break. Thing is, we are somewhat skeptical that tomorrow will be that day. But for now, things are looking up for the index but it’s precarious at the moment. Stock index index futures are actually pointing downward at the moment, which might not bode well for binary options’ hopes for a break of 1700 as early as tomorrow. After 6 straight days higher, it might just be that the markets are signaling the need for a day of rest or correction. While this doesn’t align very well with our expectations, it is very possible that the market simply needs to cool off a bit, gain some momentum, and head back up higher.

So we are erring to the side of correction. Not only due to the direction of stock index futures but also due to a lack of economic news that could potentially add some impetus to an otherwise very quiet market today.

For those looking for some interesting binary options trades today, Boeing could offer just that. After yesterday breaking past the resistance at 107.8, it now has its sights set on breaking the high from the 24th of July at 109.49. This is an interesting high point seeing as how it was formed on a day where the price of the stock actually dropped and dropped hard.  A break above 109.5 today  will allow binary options traders to certainly take up options in what looks to be the lowest risk trade we could find for our customers. The fact is, there are always loads of possibilities but with nothing else cooking in the fundamental economic arena, such technical breaks look to the be the best of the best for the day.

Those looking to make it on the forex pairs today may be somewhat disappointed seeing as how the forex pairs of most interest are literally trapped in a channel with no major trading signals to be found. There just aren’t many trading signals to trade off of for the time being and we prefer the easy trades like that on the stock of Boeing today which can simply take us higher.

Boeing with binary options 11-9-2013

Boeing with binary options 11-9-2013

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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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