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  1. #1
    Legendry Member Michael Hodges's Avatar

    SPX offering up a nice entry !!!

    The S&P is offering up a nice entry at the 1700 level for longer term binary trading. 
    SPX offering up a nice entry
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  2. #2
    Veteran Member's Avatar
    The SP 500 index recorded a fall from 1707 to 1689 on Monday, but this move doesn’t really show that market is changing its trend. No. It’s just a correction for the past week’s bullish rally where FED decided not to taper and carry on its $85 billion worth of easing on monthly basis. However, the market has given its 61.8% correction of Fibonacci retracement scale, where sustaining below 1693 level could create worries among the investors because the resistance levels would then be 1693 and 1700.

    In other words, psychology of trading would come into play where investors may start short-selling strategy as they would rely more on technical levels that could compel them to go short in a bullish market. Many of them are eying on December’s FOMC meeting minutes where 24 out of 41 economists believe that FED would start tapering in December. Therefore, we must also be aware of the pre-mature market action where market movers may shape the market accordingly well before the actually event or fundamental happens.

  3. #3
    Veteran Member's Avatar
    The SP500 Index remained under pressure on Wednesday till Friday where it failed to move above the resistance area of 1693 amid the speculation by the investors that the Federal Reserve may go ahead with the tapering anytime soon. The investors are eyeing to short the market as this is the ideal selling price for them that could easily maximize their profit with tight stop losses.

  4. #4
    Legendry Member Michael Hodges's Avatar
    the debt ceiling ccrap has the market spooked, Monday could be more of the same unless a resolution passes before then....not much hope of that at this point.

  5. #5
    Specialist Member runneroption's Avatar
    Quote Originally Posted by Michael Hodges View Post
    the debt ceiling ccrap has the market spooked, Monday could be more of the same unless a resolution passes before then....not much hope of that at this point.

    The debt ceiling is something which appears each year and it is visually solved but after that it appears again and again each new autumn. I think it is unsolvable problem and soon or latter it will make big problem for the US Congress and the whole US budget will be strongly decreased.

  6. #6
    Master Member vinayakm's Avatar
    I think the NASDAQ actually looks good for a monthly call. I prefer trading binary options on it (especially over the long term) than the SPX.

    If you look at the charts, the NASDAQ has gone up on the 6-month, 3-month and 1-month charts. Whereas the S&P has been rather volatile even though it has also been on an uptrend.

  7. #7
    Veteran Member's Avatar
    The SP 500 index opened with a bearish gap on Monday morning, where its opening price was 1674 against the closing price of 1686 on Friday. The concerns regarding the Federal Budget were taken seriously by the investors as one of the adverse consequences were the shutdown of federal government coz extra budget is not allocated and the debt ceiling is not extended. Below 1700 level, always a good opportunity to sell the market...

  8. #8
    Veteran Member's Avatar
    Wall Street and 2 Hanging Swords

    The SP500 index fell down to 1673 level this week after which it took a little bullish correction and is currently hovering at 1680 level; however, it would remain a bounty for the sellers if it stays below 1703 level.

    The investors are trying to figure out the seriousness of this current situation and how this could impact their investments, no matter which sector it is in. Moreover, the concerns also hang over their head about the tapering of stimulus that is yet to be announced this year but no one knows the exact time for it.

  9. #9
    Legendry Member Michael Hodges's Avatar
    long term trends are still up, shut down is short term problem.

  10. #10
    Legendry Member milos's Avatar
    Last week, US stocks rose on optimism that the deal would be reached over the budget. All 10 groups of the S&P500 index has increased. Over the weekend there was no progress in the negotiations which led to the S&P500 opened new week with a negative gap.

    In the US, the government is uncertain about the budget situation regarding raising the debt limit and the US inability to finance. Investors have turned to investing in safer instruments.

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