US Retail Sales Thursday, S&P To Continue Higher
Binary Options Strategy | Jun 11, 2015 01:19AM ET
Looking at the Thursday trading session, the only thing that we think will command a lot of attention will be the US Retail Sales numbers coming out during the day, which of course can move the US dollar and the US stock markets. With that being said, the S&P 500 has broken higher during the session on Wednesday, breaking the top of a hammer. Because of this, we believe that the S&P 500 will continue to go higher, and we are call buyers in general. We believe that pullbacks will offer buying opportunities, and as a result the only thing that we are going to do is buy calls, as we have no interest in buying puts.
Looking at the EUR/USD pair, the market struggled once we got close to the 1.14 level again, and as a result, we believe that the general consolidation continues. The euro will probably lose a little bit of value during the session today, so it does offer short-term put buying opportunities. However, we are much more comfortable buying calls close to the 1.11 level.
The DAX tried to break out during the session as well, as we broke the top of the hammer from the previous session, which in and of itself is a fairly bullish sign. However, we believe that the market will struggle at the €11,200 level in order to cause volatility. If we can stay above that level for more than a few hours though, we would be call buyers, as the market should then head towards the €11,800 level. All things being equal, we believe that pullbacks could offer call buying opportunities as well, as the bounce has been fairly significant during the Wednesday session. We have no interest in buying puts, at least not until we break down below the low of the Tuesday session.
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