There are 18 days before the June options expire, 46 the July and 81 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 down 1.3% from the prior close. During the day SPY traversed 1.7% high to low in a net move down of 1.2%. Thursday's extremes: Open $110.64, high $110.72, low $108.85, close $109.37. SPY traded closed below the DeMark pivots. The next DeMark pivots are $107.18-$110.05. In total, 3.6 billion shares were traded on the three major U.S. stock exchanges, down 4.5% from the prior day. Econ reports: The Institute for Supply Management releases its manufacturing index at 10 a.m. Eastern, an economic measure that tracks a number of metrics: new order, backlogs, inventories, production, etc. It's important because a robust manufacturing sector means a robust economy (in ways that have greater impact than increases in latte sales at Starbucks). Auto sales will be released at various times during the day, and at 10 a.m. the Department of Commerce reports on new construction spending. This week's big report comes on Friday: Employment. | Everything you need to know about the economic indicators that drive the markets. From the staff of The Economist. |
Trading Calendar:
By my rules, at this point in the cycle I can trade July calendar and vertical spreads. Also, August single calls or puts. Shares, of course, are good anytime.
Enjoy the holiday!
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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