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Binary options traders look to start the day on a high note. However, the last few days of trading have been very mixed and haven’t afforded trend traders any basis for continuing the moves higher. This has been especially true in the US session where after 4 straight days of a rising S&P, 3 of those days with record highs, the index corrected lower yesterday. There’s no news to blame. No speeches to point the finger at. There was barely any economic data reported. So it’s hard to find the catalyst for any such move but there’s certainly no denying that it happened. But things are so mixed up at the moment that even the markets are unable to decide if they are heading higher or lower.

 

 

The S&P lost 0.19% to 1692 and basically erased 2 days of gains. The Dow actually finished slightly higher to 15567 after rising 0.14% and the NASDAQ index lost 0.59% to 3579. This lack of congruity is intriguing to many binary options traders and stock investors alike. Such disparity can of course occur quite regularly, but with many stocks still reporting earnings and some even showing solid results (see AAPL), there’s an expectation that things will just remain status quo and continue heading higher with no respite.

 

 

But alas, that is not reality. The fact is, markets are a fickle entity and you can’t expect a horde to always act in accordance with perceived notions. This is why when we provide an opinion on the direction of the market, we try to give a solid reasoning for it. But it’s never full-proof.

 

 

Looking at the day ahead, things could look very similar to yesterday’s session. There isn’t very much economic data expected for release so momentum may be in want. But some stock and forex pairs could be fast movers.

 

 

Apple (AAPL) stock for example, which reported a solid earnings report yesterday that beat Wall St. expectations for iPhone sales by a whopping 51%, looks to head higher today. The stock has actually fallen 20% since the start of the year, managed a massive 5% move higher in after hours trading to $437.94 however it closed at 418.99. This means that when the market opens today, expect a gap to be seen to the upside on the charts. But what this means is that there will be instant momentum for the stock which could allow binary options traders to take advantage with Up options on any break of resistance at 440 today. We don’t recommend trying to anticipate any reversal or test based strategy. This is a stock to wait for a break with. Don’t wait for this gap to close up today either. Unless something completely unexpected occurs somewhere in the world, keep things simple today, at least with this stock.

 

 


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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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