Major U.S. markets have popped up into a higher level range, creating a new level of support near 1950 on the S&P 500. This is significant because it puts both another layer of support AND some additional safety buffer between the current price and the precarious multi-year lows near 1810. This intermediate breakout also confirms empirically that we now have an upward trend. Some correlation still remains with market movement and the price of oil. Some accommodative central bank sentiment overseas may also be a factor in the recent rise of the markets. Option traders know how to make money in choppy markets. To learn how to trade options, go here: http://www.optionsuniversity.com/curriculum/2016/
The recent rally has improved sentiment and reduced fear in the markets significantly. The CBOE volatility index (VIX) is now at its lowest level of 2016, drifting down close to 17. This puts the VIX near the center of a consolidation zone that dominated the entire fourth quarter of 2015. In other words, it feels like we’re ‘getting back to normal’. An announcement from the European Central Bank on March 10th, and a U.S. Fed meeting scheduled for March 15th and 16th have the potential to move the markets significantly. Economic data and earnings announcements have been mixed, but not bad enough to drive markets to new lows thus far. Changes in volatility can be profitable. Did you know that you can actually trade options on volatility? To learn more, click here: http://www.optionsuniversity.com/options-academy-online/
OVERSEAS: Asian markets were mostly positive across the board with the Nikkei leading the way, up over 1%. Given recent action, this would be considered a very quiet day in Asia. That could change as the UN voted to inforce new sanctions on North Korea, who responded by launching missiles into the oceans. European markets were also relatively flat, and mostly to the downside in a small way.
OIL: Crude inventories remain at record high levels after an increase of 10.4 Million barrels this week. The price of WTI Crude has settled at about $32 per barrel. There has been some talk that the oil market may be putting in a bottom. While that is impossible to confirm, it is worth noting that the price of crude has NOT gone below $30 per barrel in about two weeks. Courtney Smith is an expert in global markets. To hear what Courtney Smith has to say about oil and other opportunities, click here: http://www.optionsuniversity.com/tradesmith-video-newsletter/
JOBS: On the heels of a strong ADP Private Sector Payroll report, the jobless numbers have now disappointed two weeks in a row. With expectations of 270K new claims, the actual figure came in at 278K claims. This is 6K higher than the previous week. The overall 4-week average trend, however, still shows overall improvement and firming in jobs market.
BIOTECH INSIDER: All eyes are on undervalued shares of ACADIA Pharmaceuticals (ACAD), where two key catalysts could double shares in the matter of weeks. The only reason the stock pulled back as powerfully as it did was because of a $300 million stock offering. But the potential going forward can’t be missed. In fact, it’s multi-billion dollar treatment for Parkinson’s disease Psychosis (PDP) goes before an FDA advisory panel later this month… and will go before the FDA for potential approval this May 1, 2016. These are exciting times for a stock that we first began buying at just $10 a share. The anticipatory momentum is just beginning to build. To learn more on how we find valuable biotech picks, click here now: http://www.optionsuniversity.com/blog/biotech-big-money-secrets-recording/
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