There are 24 days before the June options expire, 52 the July and 87 the August.
On the jump, market stats, econ reports, trading calendar and a good book...
Stats
Blue chip stocks (SPY) closed the latest regular session up 0.1% from the prior close. During the day SPY traversed 3.3% low to high in a net move up of 2.6%. Thursday's extremes: Open $105.11, high $107.87, low $104.38, close $107.82. SPY closed within the DeMark pivots opening below them. The next DeMark pivots are $106.10-$109.59. In total, 4.7 billion shares were traded on the three major U.S. stock exchanges. Econ reports: Durable goods orders will be out at 8:30 a.m. Eastern. It's a measure of orders received by manufacturers and forecasts how busy American factories will be. These are big-ticket items that are being tracked, so an uptick here is a significant measure of the economy's growth. | Everything you need to know about the economic indicators that drive the markets. From the staff of The Economist. |
Are happy days here again? Durable goods will let you know, you betcha.
A couple of reports with less potential to move the markets (but can anything move the markets except the euro and warring Koreans? At this point? Maybe not.):
New home sales stats will be released at 10 a.m., and the weekly petroleum inventory numbers are out at 10:30 a.m.
Fedheads: Richmond Fed Pres. Jeffrey Lacker speaks at 4:15 p.m. These folks really do commit news sometimes. Honest.
Trading Calendar:
By my rules, at this point in the cycle I can trade June covered calls, iron condors, and butterfly, calendar, diagonal and vertical spreads. Also, August single calls or puts. Shares, of course, are good anytime.
Good trading!
Martin Pring's detailed deconstruction of the economic cycle: What sorts stocks to look for at each stage of the recovery. A masterful analysis.
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