There are 10 days before the July options expire, 45 the August and 73 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 0.7% from the prior close. During the day SPY traversed 2.4% high to low in a net move down of 0.7%.
Friday's extremes: Open $103.64, high $104.37, low $101.88, close $102.87.
SPY closed above the DeMark pivots. The next DeMark pivots are $101.13-$103.62.
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 economic highlights of the day, if such lackluster reports can indeed be called "highlights", are comparable store sales, released at 7:45 a.m. Eastern by the International Council of Shopping Centers and Goldman Sachs, and a weekly index of retail sales, released at 8:55 a.m. by Redbook Research.
At 7 a.m. the Mortgage Bankers' Association releases an index of applications for home loans. It's considered a leading indicator and rarely influences the stock market.
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.
Good trading!
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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