After surging more than 10% in just a few weeks, the S&P 500 remains above key support levels and moving averages. World events have had very little negative impact at the moment other than to slow the upward momentum. It remains to be seen if this is just a healthy pullback within a bullish trend or if the markets may be rolling over. Options traders have lucrative ways to trade the markets no matter what happens. To learn how to trade options, go here: http://www.optionsuniversity.com/options-academy-online/
The CBOE Volatility “fear index” (VIX) remains at extreme lows below 15. World events such as the terror bombings in Brussels have had minimal impact to overall bullish sentiment in the U.S. markets. If the current mild change in direction in the market should become more dramatic, then the VIX could spike quickly. However, given the seasonal bullishness and the positive outlook, it would take something more in the way of events than what we are seeing right now. If the Fed, for example, were to raise interest rates in April that could have a large impact, but that would be down the road next month. Did you know that it is possible to TRADE VOLATILITY? Options traders know how. To learn more click here: http://www.optionsuniversity.com/curriculum/2016/
OVERSEAS: Every major market both in Asia and in Europe were down in overnight action. Most were down over 1%, as concerns linger over terrorism during Easter week. It has been rumored that a Catholic priest has been captured and may be executed on Good Friday. ISIS has promised “dark days” ahead, and clearly global markets are being pushed down as a result.
OIL: Oil prices have slipped back below 40 and remain in the high 30’s for now. Massive increases in crude inventories were only somewhat offset by decreases in gasoline inventories.
HOUSING: New home sales figures came in strong this week. However, the concern is that only one major region of the country (the western region) is doing well, while all other parts of the country are showing softness.
JOBS: Jobless claims figures came in slightly better than expected at 265K new claims. The overall trend is continuing in a positive direction, and figures from last week were also revised downward to 259K.
BIOTECH INSIDER: ACADIA Pharmaceuticals (ACAD) is just days away from its long, multi-year decision that could decide the fate of its well-received Parkinson’s disease Psychosis (PDP) drug. As it heads into its March 29, 2016 FDA advisory committee meeting, volume is just beginning to pick up steam again. In Phase I, II and III trials, the drug has shown great success in treating this unmet medical need, which impacts up to 60% of all Parkinson’s disease patients. Untreated, it leads to horrible hallucinations and delusions that increase caregiver burdens. At the moment, there are no other drugs on market approved to help with this. But we could finally have one if the FDA approves… Not only does it face the advisory panel this month, but it meets with the FDA on May 1, 2016 as well. For more information on other biotech stocks that are just as hot, click here now. http://optionswealthinsiders.com/biotechv2/
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