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DON’T DWELL – LOOK FORWARD

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By: Adam Stone
December 30th 2013 6:05am GMT, London UK
 

The new week starts today but most traders will be looking either backwards or forwards. For those waxing philosophical about the year that was, today could be that turning point. Out with the old, in with the new. For those dreamers thinking 2014 already, there is much to be expected and thought about in terms of how to best strategize for the future. But we have a busy day ahead of us as binary options traders and there’s not much use dwelling too much on the past and looking to the far ends of the universe for answers about the future, well, thats’s probably best served to the hours when the market is closed.

We are looking today as the last full trading day of the year. No one will really be focused on trading tomorrow as New Year’s Eve is the most widely celebrated holiday on earth and we expect wide spread inebriation. So don’t expect much in the way of exciting trading tomorrow and that’s just about far into the future as we are willing to look at today.

For starters, things have started rather strongly, at least in Asia. After an incredible year, Asian stocks just don’t want to quit. With a falling JPY, it’s simply getting more attractive to head in with up options on Japanese stocks and indices while keeping short on JPY. The fact is, it’s not the JPY really weakening here, it’s just relative strength. Against the USD, the Japanese Yen just looks like a dog. But that same argument surely doesn’t explain why in the world the USD would be valued this weak agains the EUR. This is a paradox that would require much more thought and analysis. So for today, let’s focus on how to make this actionable.

For starters, keep the upward pressure on Asian stocks could mean that the EU session will start with some upside pressure as well. Although the US session has never relied on the trend in Europe, it surely won’t hurt to see some upswings in EU stocks which can in turn help push US stocks higher. After a rather dismal Friday session, US stocks should look to return to form and with the NIKKEI coming off yet another strong day, indices like the S&P and Dow, may head up to new highs yet again.

Look for the S&P to break above 1842.5 which would mark another record high for the index. The Dow Jones index is in similar territory and any break above 16480 will allow binary options traders to take up options with what look to be very low risk trades considering all that’s happening elsewhere.

Look upwards especially as we head into a new year. Optimism at its best

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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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