Initial Jobless Claims And The S&P 500
Binary Options Strategy | May 21, 2015 02:58AM ET
Looking at the upcoming Thursday session, the one announcement that we are paying the most attention to is the Initial Jobless Claims numbers coming out of the United States. With that being the case, we pay attention to the S&P 500, and recognize that we did initially tried to fall during the course of the day on Wednesday, but found enough support to turn things back around and show that the 2120 level should be a bit of a floor going forward. We are still bullish and anticipate that the S&P 500 will go higher, thereby having us buy calls.
S&P 500
Looking at the EUR/USD pair during the Wednesday session, you can see that we fell below the 1.11 handle, but found enough support to turn back around and form a hammer. This hammer, of course, is a very strong sign, and we believe that the buyers are coming back into the market to push the euro higher. With that being the case, we really anticipate seeing a lot of call buyers step into the market and as a result we are following.
The silver markets initially fell during the course of the session on Wednesday, but found enough support near the $17.00 level to turn things back around and bounce. We anticipated seeing buying in that area, and that is exactly what we will do as well, going long via calls.
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