There are 5 days before the July options expire, 40 the August and 68 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 0.8% from the prior close. During the day SPY traversed 1.0% low to high in a net move up of 0.8%.
Friday's extremes: Open $107.13, high $107.97, low $106.93, close $107.96.
SPY closed above the DeMark pivots. The next DeMark pivots are $107.45-$108.49.
In total, 2.5 billion shares were traded on the three major U.S. stock exchanges, 24% fewer than on the prior trading day.
SPY at a glance:
| trend | adx | psar | pps | macd | macd trend | sto | sto trend | |
|---|---|---|---|---|---|---|---|---|
| SPY $107.96 |
Econ reports:
No economics reports are scheduled for release on Monday. The rest of the week has big market-movers planned for every day: International trade on Tuesday, retails sales on Wednesday, producer prices and industrial production on Thursday and consumer prices on Friday.
It shapes up as a volatile week. And of course, Volatility is the Mother of Profit. (Hi, Mom!)
Trading Calendar:
By my rules, at this point in the cycle I can trade August calendar, vertical, diagonal and butterfly spreads, iron condors and covered calls. Also, 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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