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S&P TRADING WITH BINARY OPTIONS

EUR/USD 1.07698 08:10 06.12
FTSE F-DEC16 6745.750 08:00 06.12
USD/RUB 63.806 08:00 06.12
USD/CHF 1.00590 08:00 06.12
OIL-FEB17 (BRENT) 54.685 08:00 06.12
COPPER-NOV16 2.6553 08:00 06.12
NZD/CHF 0.71775 08:00 06.12
CAD/CHF 0.75864 08:00 06.12
NZD/USD 0.71357 08:00 06.12
EUR/AUD 1.44544 08:00 06.12
CAD/JPY 85.854 08:00 06.12
AUD/USD 0.74454 08:00 06.12
AUD/JPY 84.756 08:00 06.12
GBP/USD 1.27552 08:00 06.12
VTB BANK 0.068930 08:00 06.12
TENCENT HOLDINGS 190.150 08:00 06.12
ROSNEFT' 350.875 08:00 06.12
GOLD VS SILVER 69.8109 08:00 06.12
EUR/GBP 0.84379 08:00 06.12
OIL-JAN17(WTI CRUDE) 51.435 08:00 06.12
SILVER 16.805 08:00 06.12
GOLD/EUR 1090.185 08:00 06.12
GOLD 1173.311 08:00 06.12
NASDAQ F-DEC16 4779.125 08:00 06.12
GOLD VS OIL 21.4558 08:00 06.12
USD/CAD 1.32590 08:00 06.12
S.BANK INDIA 259.675 08:00 06.12
AXIS BANK 460.725 08:00 06.12
TATA STEEL 414.100 08:00 06.12
TATA MOTORS 443.150 08:00 06.12
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S&P with binary options 3-12-2013Markets take a slide as they return from the long holiday weekend in the US and there could be more in store today. The fact is, the US market is having a hard time finding reason to keep the upside pressure on a high as it has been for the majority of the last months. However, this light selloff is primarily due to the release of holiday shopping results that fell below expectations. Despite a record number of shoppers in retail outlets, the amount spent was lower than last year. This pushed retail stocks lower and caused the end of day red results seen on the big boards as the S&P fell to 1800 after losing 0.27%.

The S&P, the most traded stock index with binary options is still above the critical support level; 1800. The fact that this support was unbroken is testament to its strength. However, binary options traders will be wise to keep close tabs on this index today and act if the index’s supports are tested.

The primary support, being at 1800 will likely be tested and according to the momentum indicators, might even be broken. But don’t be too rash. Wait for a clear break before jumping aboard this one. Despite the S&P being the most well behaved index on the planet and possibly compared to all assets (in technical analysis terms) it still a danger to head to the downside during an uptrend even with a break. Yes, the index has hopped over resistances and supports with nary a retest to the opposite direction on the day of the break in over a year. In fact of every daily chart based break since September of last year, over 64 breaks have been recorded and of them only 3 were false breaks and 1 was neutral. That means the binary options traders should have had 60 winning trades out of 64, minimum. That doesn’t include the multi break days where more than 1 trade could have been taken for an end-of-day winning trade.

The point is, the S&P might break lower today with history and statistics pointing to yet another easy win. But today we err to the side of caution. As such, make sure that momentum is firm to the downside before take an end-of-day down option.

No major news for the day will keep binary options traders’ focus strictly on the charts and this is a good thing. Keep those eyes on glass and wait for breaks. Of course, if the S&P is not of much interest to you, keep tabs on the EUR/USD today as it looks to keep traders on their toes with loads of tests, breaks, and general mischievousness.

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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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