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Consumer Confidence February 24, 2015

ByBinary Options Strategy
Published 02/24/2015, 02:42 AM
Updated 05/14/2017, 06:45 AM

Looking at the Monday session, there isn’t much in the way to move the markets that is quantifiable. Janet Yellen testifies in front of Congress, which of course can move the marketplace in general, but it’s difficult to measure exactly how that will move things. The Consumer Confidence numbers come out during the session in America as well, and that of course can move the US stock markets in general.

The S&P 500 fell during the course of the session on Monday, but there remains a significant amount of support near the 2100 level. Because of this, we look at short-term pullbacks as potential call buying opportunities in a market that should go much higher. Because of this, we have absolutely no interest in buying puts as we believe that sooner or later this market grind much higher than current levels.

The GBP/USD pair initially fell during the course of the session on Monday, but found enough support to bounce back above the 1.54 handle by the end of the day. By doing so, it ended up forming a hammer that should continue higher and head towards the 1.55 level. Short-term pullbacks should continue to offer call buying opportunities, but we recognize that there is a lot of noise above.

The silver markets fell initially during the session as well, but found enough support at the $16.00 level to turn things back around and bounce above the $16.50 level to show significant bullishness. We believe that eventually this market continues to go higher but recognize that there will be a lot of volatility in the meantime. Buying calls as the only thing that we can do on short-term pullbacks.

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