US Markets finished higher and provided momentum for the coming day. After good data was released from the US housing market, the S&P stock index began a strong push higher and finished at 1399.97, which is just under the resistance at 1400. The index managed reached a high of 1402 but didn’t manage to remain above the resistance and so the 1400 level remains a strong resistance for the index and binary traders will likely try taking Above options if and when the level breaks. We expect the level to break today as no serious economic releases are expected today for binary options traders.
The Dow index also finished higher by 0.87% to 13204 and is now close to the resistance level at 13240. Any break of this level should allow binary traders to take Above options in the direction of the trend in place since November. Although the index had a moderate correction starting 2 weeks ago, the last few sessions have allowed the index to show its strength.
Despite the price of Oil heading a bit higher, Exxon Mobile (XOM) stock has not managed to pass the 87.5 level as we expected yesterday. Although everything is in place for this stock to surge past the resistance, it has failed to do so again yesterday but we are still optimistic. The stock is on the verge of making this big move and we want our readers to be ready. Neither of our trading signals (on APPL and XOM from yesterday) made it to their levels. This is not necessarily a bad thing as it just means we didn’t open a trade on these specific assets, but at least we didn’t open a capricious and unwanted trader only to see it lose. We recommended APPL Above options if the 622.5 level were to break and it didn’t. Actually, the stock actually finished lower yesterday. We are honest enough to know that if our forecasts are off, we are to reassess the situation, which is what we have done. We have found nothing fundamentally incorrect about our predictions, it’s just a timing thing. So we are patient and recommend our readers remain so as well.