There are 19 days before the July options expire, 54 the August and 82 the September.
On the jump, market stats, econ reports, trading calendar and a good book...
Stats
Blue chip stocks (SPY) closed the latest regular session up 0.4% from the prior close. During the day SPY traversed 1.6% low to high in a net move up of 0.1%. Friday's extremes: Open $107.74, high $108.42, low $106.77, close $107.87. SPY traded above the DeMark pivots and closed within them. The next DeMark pivots are $107.32-$108.97. In total, 3.5 billion shares were traded on the three major U.S. stock exchanges, up 7.3% from the prior trading day. SPY at a glance:
Econ reports: Personal income and outlays will be released at 8:30 a.m. Eastern. It's an important report, these days more than ever, because from it can be constructed the savings rate. (Income - Outlays = Savings) Since capitalist finance collapsed in 2007/2008 and the recession began, American consumers have behaved like Punxsutawney Phil, the groundhog, after he's seen his shadow. They've gone to ground, and the idea is that the economic spring won't begin until they've emerged from their little consumer groundhog dens. Personal income and outlays tells whether they are in fact emerging. For a fast recovery, consumers shouldn't save money and should instead shop 'till they drop. Of course, they may end up laid off and dead broke. But hey, the economy will prosper. | 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 September single calls or puts, and shares.
Enjoy the weekend!
OK. The credit bubble burst. Housing, burst. Shockwaves reverberated. Markets collapsed. What lies ahead as we remerge from the wreckage.
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.
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