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A DAY LATE – BUT NOT WRONG

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By: Adam Stone
January 29th 2014 7:00am GMT, London UK
 
Yesterday we reported how we expected some form of bounce back or at least some semblance of optimism in the face of all the global malaise. In essence, it wasn’t so much a call or expectation for a bounce back as a reluctance to accept the very nature of the current downturn at fact value. On the one hand there is no doubt that the global economic seems to be in peril. The Chinese are reporting worse economic figures nearly daily and the US economy isn’t living up to the hype. With the potential for even worse jobs data in early February, it’s hard to understand why anyone has any reason to take up options on days like these. But leave it to binary options traders to find just such reasons and yesterday provided a number of them.

For starters, the US indices headed back higher, rallying after an abysmal Friday session which stretched into Monday. The S&P rose 0.61% to 1792.5 in vigorous trading. The Dow fared similarly, rising 0.57% but still a far cry from the highs seen late December. It’s hard to tell what’s actually capable of taking the markets back higher.

For the markets today, binary options traders will again continue to focus on the forex pairs, as usual. But for indices traders, note that the Asian session ended on a tear with the Nikkei closing up over 2.7% on the day. Sure, this isn’t enough to recover from the losses over the last few days, but it is certainly testament to the overpowering will of the markets to continue heading higher.

This should lead the EU session to have some added impetus and more importantly, the US session should start off with yet more to strive for in its bid to head ever 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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