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AND DOWN WE GO AGAIN

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By: Adam Stone
January 30th 2014 7:30am GMT, London UK
 

Binary options traders waited for the news from the FED and got a dose of strange reality as the final word from Chairman in exit Ben Bernanke. The cut stimulus 10billion in its stimulus package despite an enormous amount of volatility in the financial markets and concern over the US economy’s ability to create jobs. Add to this turmoil the lack of impetus in the Chinese market and you begin to understand why the US stock indices dropped again and this time by more than 1.0%. So despite the rally on Tuesday, we are back to the down trending type of price action we’ve seen since Friday.

This all spells bad news for stocks like Apple which dropped again yesterday and is now hovering at 500.75 just above support at 500. The level is very likely to break today and binary options traders, despite seeing a very slight break below this level yesterday, could be in for a solid trade with no retreat today. The level, if broken today, looks better for a down option today. Binary options should get ready for this one as it might come early in the trading session.

Other important news for the day includes Google’s sale of its Motorola handset devision holdings. While the tech giant retained full ownership of the patents it bought back in 2012, it sells the device making devision to Lenovo of china for over 2 billion USD. Google originally bought Motorola for its patents, and as such made billions on this deal. The price of Google thus shot higher by 2.6% for the day, keeping the price of the stock above 1100. The stock price closed the session at 1136.

For the day ahead, binary options traders will need to keep focused on some news. Things get started with the German Consumer Price Index (YoY). Later on in the session Gross Domestic Product will be released in the US and this should provide a glimpse into the “why” the Fed decided to cut stimulus. If again we see a low figure, below 3%, then markets are going to react with a heavy hand and send stocks and indices severely lower. Look for this move to send things into hyper gear very early in the US session.

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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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