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BERNANKE PUSHES IT ALL HIGHER

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Markets started their push back higher after Ben Bernanke gave a two sided explanation of the situation with the current bond buyback program. The issue at hand is that traders and investors are deeply concerned that the end of quantitative easing will means a downfall of stock prices and other economic worry. Binary options traders will surely recall that any time the question of ending the capital infusion into the economy was brought up, stock prices tumbled. But that wasn’t the case yesterday as stocks climbed despite Bernanke’s assertion that the tapering of QE3 was absolutely going to happen, and soon. But now, Bernanke is soothing some of those fears by explaining things more profoundly.

 

 

The words were very calming because they provided a modicum of flexibility in the Fed’s approach to the curtailing of the program. Many were worried that once the Fed got to cutting off quantitative easing it would be a one way street but Bernanke left a nice sized window to slow the tapering if need be. And this is what the markets wanted to hear.

 

 

Getting those soothing words allowed the market to rise slightly on a day that ordinarily would have seen a possible drop. This is especially true given the mediocre Beige Book report provided by the Federal Reserve which was very tepid about the state of the economy labeling it a “modest” recovery pace. But this didn’t hinder the rise higher.

 

 

The markets ended moderately higher and this should be enough to send things towards yet another record high today. With the S&P sizing up a break above 1687 today, binary options traders should get ready for a serious move.

 

 

Initial Jobless Claims today are set for release at 12:30 GMT and binary options traders should be slightly concerned about this. The market is expecting a release of a 345k figure which is much better than the previous 360k. However, these are not the figure the market craves. Sub-300k is the target and as such, major moves aren’t expected unless the expectation finds a serious deviation. This is not a normal occurrence and building on such an outcome would be pure folly today. Later in the day, Ben Bernanke will continue testifying and this could lead to some market volatility. This volatility usually comes during the second half of the proceedings which are a question and answer session. Sometimes interpretations begin flooding the markets and this can cause quick and volatile expressions. Make sure to be alert during this and follow the basics tenets of trading by following the trends today.

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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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