Monday, August 23, 2010

8/24 Almanac

On Tuesday, Aug. 24: Existing home sales.

There are 25 days before the September options expire, 53 the October and 88 the November.

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


Blue chip stocks (SPY) closed the latest regular session down 0.4% from the prior close. During the day SPY traversed 1.4% high to low in a net move down of 0.9%.

The day's extremes: Open $108.04, high $108.57, low $107.07, close $107.12.

SPY traded entirely within the DeMark pivots. The next DeMark pivots are $106.35-$107.85.

In total, 2.5 billion shares were traded on the three major U.S. stock exchanges, 14% fewer than on the prior trading day.

Econ reports:

The National Association of Realtors reports existing home sales at 10 a.m. Eastern. This is a major report because of what it says about the American people's mood. If more people are willing to buy a home, then happy days are closing in.

Small fry: A couple of retail reports. ICSC-Goldman store sales at 7:45 a.m. and the Redbook report at 8:55 a.m. Neither typically has much in the way of market impact.

Trading Calendar:

By my rules, at this point in the cycle I can trade September iron condors, covered calls and diagonal, butterfly, calendar and vertical spreads. Also, November straddles and single calls or puts. Shares, of course, are good anytime.

Good trading!


  • 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.

No comments:

Post a Comment