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University Of Michigan Numbers October 17th

ByBinary Options Strategy
Published 10/17/2014, 02:36 AM
Updated 05/14/2017, 06:45 AM

During the Friday session, we do not expect much in the way of economic announcements to move the market. The University of Michigan Consumer Sentiment numbers could be the lone factor, perhaps moving the stock markets in the United States. Beyond that, we feel that it is a technical day and most European indices will continue to consolidate of these low levels in order to find buyers.

With that, we are essentially staying out of most markets with the exception of perhaps the S&P 500, as we believe better than anticipated consumer numbers would of course move the market higher just as a break above the 1900 level would. We think that short-term pullbacks could offer buying opportunities as well, for the short-term expiration options. At that point time, we would be buying calls with very short-term expirations going forward.

Pay attention to the precious metals markets, although they both look like they are struggling we are at significant levels. Above $18 changes the entire scenario for silver as call buying will be the only way to play it. Gold markets on the other hand struggle at the $1240 level, and a move above the $1250 level has us buying calls in the gold markets as well. Otherwise, we will be on the sidelines watching what happens by the end of the day.

Some days simply are not worth risking money on, and today could be one of those sessions as the market seems to need to digest some of the recent volatility.

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