On Tuesday, July 6: Trading resumes; in econ, a minor non-manufacturing index (yawn)
There are 11 days before the July options expire, 46 the August and 74 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 down 0.5% from the prior close. During the day SPY traversed 1.7% high to low in a net move down of 0.9%.
Friday's extremes: Open $103.11, high $103.42, low $101.62, close $102.20.
SPY closed within the DeMark pivots after trading above them. The next DeMark pivots are $101.01-$102.81.
In total, 2.7 billion shares were traded on the three major U.S. stock exchanges, 35.1% fewer than on the prior trading day.
SPY at a glance:
| trend | adx | psar | pps | macd | macd trend | sto | sto trend | |
|---|---|---|---|---|---|---|---|---|
| SPY $102.76 |
Econ reports:
The Institute of Supply Management releases its non-manufacturing activity index at 10 a.m. Eastern. It is definitely not a big deal. It barely reaches the level of a small deal.
There are top-rung reports this short week. So relax! Enjoy! Fire the grill for burgers and dogs.
Trading Calendar:
By my rules, at this point in the cycle I can trade August calendar and vertical spreads, September single calls or puts, and shares.
Enjoy the holiday!
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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