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By: Adam Stone
June 5th 2014 6:05am GMT, London UK

Yesterday, bad news from the US jobs market wasn’t enough to limit the move higher by equities as the ADP Employment Report showed that the American economy created only 179k new jobs in the private sector. As we head into the NFP release this Friday, such reports carry obvious significance and weight. The fact that the ADP missed the expectation level of 210k and was lower than the previous mark of 215 had no immediate impact on the markets. In fact, with the US indices on the rise, the USD headed higher as well.

The S&P finished the day’s trading session up by .19% to 1927 and binary options traders were back in the mix. According to the dealing room, the volume on US indices (S&P and the Down Jones) both had more than 30% the average volume levels and as usual, it came due to the indices heading higher. The increase in volume can’t be considered very dramatic though seeing as how a rise of more than 0.5% would have pushed investors much harder into the market and increased the volume levels. For today, the S&P could again push higher and this time well passed the resistance level of 1928.5 which is just above the high from yesterday.

With a day off of serious news until tomorrow’s jobs data, there’s a small chance that the US indices will slightly correct from there all time highs. We are at the highest level recorded for the S&P and this could lead to a drop today. According to the classic viewpoint of technical analysis, the lack of momentum seen as the market created new record highs is actually considered a poor sign for the index for the long term. However, a new record creates a buy signal and binary options traders can simply take up options on the break above the resistance level at 1928.5. So the issue of momentum, while very important, could mean very little if we get yet another move higher. Binary options traders will be able to take up options on such a break and we will just need to hope that the S&P continues its incredible run of no false breaks or nearly none. The index has an amazing behavior when breaking past resistances of note: the index doesn’t break back lower on the same day. As such, considering a near 94% break ratio, we can expect this again today. The risk level is admittedly higher today considering the very low momentum but statistics should play to our favor.

S&P with binary options 5-7-2014

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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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