There is one trading day left before April options expire, 36 days the May and 64 the June.
On the jump, market stats, mediawatch, rules, econ reports, portfolio and a good book...
Blue chip stocks (SPY) closed the latest regular session up 0.08% from the prior close. During the day SPY traversed 0.5% low to high in a net move up intraday of 0.2%. Although a new high was set on the three-month chart, this was a static market day.
Today's extremes: Open $120.99, high $121.57, low $120.95, close $121.29.
SPY traded and closed within the range of the DeMark pivots. The next DeMark pivots are $121.12/$121.74.
In total, 3.9 billion shares were traded on the three major U.S. stock exchanges, down 300 million from the prior day.
Mediawatch: The Narrative credits stocks' inching and drift on rosy predictions about UPS, plus mixed econ reports. So once again AP and Reuters take nothing and find a cause for it in something. This is akin to an alchemist turning lead into gold. Far better to write that markets inched or drifted, without making up a phony non-cause. Unless you're prepared to argue that UPS has a dampening effect on the markets, and that seems to be a stretch. | Financial consultant Leslie Masonson describes a strategy for using relative strength to trade exchange-traded funds for increased returns. |
Econ reports:
Housing starts is reported at 8:30 a.m. Consumer sentiment is out at 9:55 a.m.
Both are key measures of the economy. An increase in housing starts would mean some progess in soaking up the excess housing stock left by the collapse of capitalist finance in 2008, and consumer sentiment tells us whether we're poised to shop 'till we drop, casting aside the caution engendered by the collapse.
And more speeches.
- Fed Gov. Kevin Warsh, 9 a.m.
- Kansas City Fed Bank President Thomas Hoenig, 12:30 p.m.
April expiry:
- MCO, covered call, -c29
Dividend shares: AOD, JNK, NLY
Zombie shares: PALM.
Good trading!
New to private trading? Here's a look at How to Become a Private Trader.
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