Tuesday, August 31, 2010

9/1 Almanac

On Wednesday, Sept. 1: Manufacturing index.

There are 17 days before the September options expire, 45 the October and 80 the November.

On the jump, market stats, econ reports, and the trading calendar . . .

Stats

Blue chip stocks (SPY) closed the latest regular session totally unchanged from the prior close. You don't see that every day. During the day SPY traversed 1.4% low to high in a net move up of 0.4%.

The day's extremes: Open $104.92, high $105.98, low $104.49, close $105.31.

SPY traded entirely within the DeMark pivots. The next DeMark pivots are $104.90-$106.39.

In total, 3.5 billion shares were traded on the three major U.S. stock exchanges, 47% more than on the prior trading day.


Econ reports:

The Institute for Supply Management releases its manufacturing index at 10 a.m. Eastern. It's a complex measure that shows what's happening in the nation's factories as a clue to the future course of recovery (if any). Sometimes market-mover.

Auto sales scattered throughout the day, a preview of employment at 8:15 a.m. -- the real deal comes out on Friday -- construction spending at 10 a.m. and petroleum inventories at 10:30 a.m.

Small fry: Mortgage bankers applications for home purchases at 7 a.m., and corporate layoffs at 7:30 a.m.


Trading Calendar:

By my rules, at this point in the cycle I can trade September calendar and vertical spreads. Also, November straddles and single calls or puts. Shares, of course, are good anytime.


Enjoy the weekend!

Abbreviations:

  • psar - Parabolic Stop and Reverse
  • adx - Average Directional Index
  • pps - Person's Proprietary Signal
  • ma20 - 20-day moving average
  • macd - Moving Average Convergence-Divergence
  • sto - Fast Stochastic


About the glance: The colors indicate the state of each signal.

  • trend: Determined by the 5-day moving average, green for up, red for down, yellow for sideways
  • adx: orange for above 30-up, blue for 20-down, purple for in the middle. Red is most prone to whipsaws
  • psar, pps, macd: green for bull mode, red for bear
  • sto: green for overbought, red for oversold, yellow for the neutral zone.

No comments:

Post a Comment