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By: Adam Stone
January 8th 2014 8:30am GMT, London UK
Binary options traders awake today with serious optimism in the markets as US and other world markets, hopped up on good news and new year fever, all headed higher yesterday. US markets led the pack with a strong showing as the S&P headed higher by a figure of 0.61% to 1837 as the Dow Jones, a recent favorite of our’s, headed higher by 0.64% to 16530. The day started strong in Asia as the NIKKEI, one of the best performers of the last 6-12 months, soared higher by 1.94% to 16121.

Binary options traders who are willing to brave the Asian session, might be in for a treat. The NIKKEI looks to topple the resistance, currently located at 16300 in the coming session. Although quite capable of doing this in just one fell swoop, it might take 2-3 session and a multitude of tests in order to break this strong resistance level. Binary options traders may wish then to opt for some reversal strategies while the market heats up. To do this properly, binary options traders employing reversal strategies need only take a down option on each test of the resistance level. But be warned, the NIKKEI can move very fast. As such, binary options traders using more advanced strategies such as these, must be capable and focused enough to go the other way and with big trades once the break occurs. The likelihood of a break is rather high, even considering the strength of the current resistance. So play off the reversals while you can with short and small trades. Once the break comes along, dash for the up options and take for the end of day and with larger trades.

Please note, today will see the release of the ADP employment change report which is the preview, or sideshow, depending on how you see things, of the Non Farm Payrolls (NFP) coming this Friday. The ADP, expected for release today at 13:00GMT is a big deal. Binary options traders might even use the release, expected to show a drop in new employment from 215k last month to 200k this month. Obviously, this is still growth according to the Fed which stated that the benchmark NFP growth they want to see is 200k minimum per month. So if the NFP actually comes in higher than this, you can expect a wholesale increase in the value of the USD and a slight rise in stocks. But for today, most traders are likely to take the ADP at face value: a drop is bad and a rise is good. Not over- thinking it is likely the best course of action.

Later this evening, the Fed’s last meeting minutes will be released and this could move markets in a massive way. So be prepared for anything in the 10-30 minutes after the release of this at 7pm GMT

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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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