SPX And Upcoming US Industrial Production
Binary Options Strategy | Mar 16, 2015 03:51AM ET
During the Monday session, we anticipate that the Industrial Production numbers out of the United States will be about the only economic announcement the people will be paying attention to. Because of this, we feel that the S&P 500 pulling back on Friday may offer a nice buying opportunity, as we see the 2040 level as supportive, and an announcement better than the anticipated 0.3% could be the catalyst for the buyers to come back into the marketplace. With that, we would be buyers of calls in the S&P 500.
The EUR/USD pair continues to fall, and tested the 1.05 level again on Friday. Ultimately, we feel that this market should continue to break down from here, but we recognize that short-term rallies may be what we see in the next couple sessions. If that’s the case, we are buyers of puts every time it happens, and most certainly a buyer of puts below the 1.05 handle. We have no interest whatsoever in buying calls in this pair as it is most certainly broken at this point.
Looking at the FTSE, you can see that we fell during the session on Friday as well, but we do see support just below, especially near the 6700 region. If we can break above the 6800 region that is also an area where we would be interested in buying calls, as we don’t have any interest in shorting the FTSE at the moment. Nonetheless, we have to keep our eyes open as we do recognize that there has been a significant breakdown recently, but we are still technically in an uptrend.
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