Tuesday, July 20, 2010

7/21 Almanac

On Wednesday, July 21: Petroleum inventory, Uncle Bennie.

There are 31 days before the August options expire, 59 the September and 87 the October.

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

Blue chip stocks (SPY) closed the latest regular session up 1.1% from the prior close. During the day SPY traversed 2.6% low to highin a net move up of 2.5%.

Friday's extremes: Open $105.87, high $108.56, low $105.82, close $108.48.

SPY traded below the DeMark pivots before trading above them. The next DeMark pivots are $107.15-$109.89.

In total, 3.1 billion shares were traded on the three major U.S. stock exchanges, 14% more than on the prior trading day.

Econ reports:

A slow day for econ crowd: Weekly petroleum inventories are out at 10:30 a.m. Eastern, big for energy, not so much for the broader market, unless there's an existential surprise in the numbers.

Also, Fed Chairman Ben Bernanke makes his twice-a-year report to Congress at 2 p.m., and the mortgage bankers release stats on applications for mortgages. It's a leading indicator. If someone applies for a mortgage, can a home sale be far behind?

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 straddles and October single calls or puts. Shares, of course, are good anytime.

Good trading!

The Great Reflation: How Investors Can Profit From the New World of Money
OK. The credit bubble burst. Housing, burst. Shockwaves reverberated. Markets collapsed. What lies ahead as we remerge from the wreckage.


  • 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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