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CORRECTIONS

GBP/USD 1.24430 17:20 22.02
EUR/USD 1.05615 17:20 22.02
OIL-APR17 (BRENT) 55.815 17:15 22.02
ALIBABA 104.870 17:15 22.02
AUD/USD 0.76832 17:15 22.02
AUD/JPY 87.185 17:15 22.02
SILVER 17.963 17:15 22.02
GOLD/EUR 1167.045 17:15 22.02
OIL-MAR17(WTI CRUDE) 53.980 17:15 22.02
GOLD 1232.476 17:15 22.02
EUR/JPY 119.846 17:15 22.02
USD/JPY 113.478 17:15 22.02
GBP/USD 1.24423 17:10 22.02
EUR/USD 1.05583 17:10 22.02
BitCoin/CNY 7487.500 17:00 22.02
USD/MXN 19.919 17:00 22.02
WELLS FARGO 58.325 17:00 22.02
USD/CHF 1.01100 17:00 22.02
OIL-APR17 (BRENT) 55.725 17:00 22.02
TOYOTA (US) 114.275 17:00 22.02
SONY 31.285 17:00 22.02
COLGATE-PALMOLIVE 73.035 17:00 22.02
FIAT CHRYSLER 11.35 17:00 22.02
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Stocks continue to slip as uncertainty has completed taken over the market. The uncertainty is in regards to the Federal Reserve’ stimulus plan and the expected tapering of the plan. After a year of quantitative easing, binary options and other investors were expecting the project to be coming to an end as early as last week. The news was that the Fed has decided not to curtail the capital influx and as a knee-jerk reaction markets flew higher. Since then though, each session has been marred by the color red.

But binary options traders who have been following us here in our daily analysis should have at least picked up an end of day option on the S&P for an easy profit. The index, when a break occurs, is the most pattern bound asset on the planet offering traders 50 of 51 clear breaks over the last year. The only false break we’ve actually had for the index was 2 days ago. Yesterday looked to be more of the same and we got a bit nervous with the behavior of the index. The S&P just fell off a cliff as soon as the opening bell rang and provided all traders a sell signal. Surprisingly enough though, about an hour into the trading session, the index corrected completely and until the last hour, our trade looked to be a dog.

During the last hour of trading, we were vindicated by the power of a great trading signal as the index dropped back below the support level at 1700 and allowed our trading signal to come up with a win. It was an important profit as most of the other trading signals we had yesterday simply didn’t reach a break. So being only one for one, we won’t complain.

For those who were waiting to take advantage of reversal strategies, it just didn’t come to be even though some tried towards that last hour of trading. It was not a smart move. Even though the market looked like it was showing a false break, we wouldn’t have recommended shifting strategies with binary options at that point.

Today at 12:30GMT, the US Durable Goods Orders will be released and markets are expecting a sharp drop of -7.3% for the index after last month’s 0.2%. For the day ahead, markets will probably cool it with this correction. So if the indicator mentioned here works out to be released in better form than currently expected, the dearth of news could lead to a rise in stock indices in short order.

Binary options traders may also want to keep a keen eye on the developments of  Facebook stock. 49.66 is the current resistance and a break above the level will allow binary options traders to take up options with what looks to be a very low risk trade. The trend is certainly strong and on the upside. Look for more of the same today especially if some news comes in on a positive note as it should go a long way to help push the stock even further higher.

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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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