There are 17 days before the June options expire, 45 the July and 80 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 1.7% from the prior close. During the day SPY traversed 2.2% high to low in a net move down of 0.8%. Thursday's extremes: Open $108.35, high $109.95, low $107.59, close $107.53. SPY traded within the DeMark pivots. The next DeMark pivots are $106.38-$108.74. In total, 3.5 billion shares were traded on the three major U.S. stock exchanges, down 3.7% from the prior trading day. Econ reports: Auto sales will be released at various times during the day. At 10 a.m., the pending home sales report will be released. This is a major monthly econ report that tracks residential houses sales that have not yet closed. So it's a leading indicator and a consumer confidence indicator all rolled into one. (Correction: In the 6/1 Almanac I listed auto sales as being on Tuesday. That was an error.) | 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.
Good trading!
OK. The credit bubble burst. Housing, burst. Shockwaves reverberated. Markets collapsed. What lies ahead as we remerge from the wreckage.
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