There are 16 days before the August options expire, 44 the September and 72 the October.
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 0.8% low to high in a net move up of 0.4%.
The day's extremes: Open $112.53, high $113.11, low $112.16, close $112.97.
SPY closed above the DeMark pivots. The next DeMark pivots are $112.57-$113.51.
In total, 2.9 billion shares were traded on the three major U.S. stock exchanges, 5% more than on the prior trading day.
Econ reports:
More employment prequels: Weekly jobless claims at 8:30 a.m. Eastern and the Monster employment index (unemployment amongst monsters being a sadly neglected policy area) sometime during the day, no time specified. Actually, that's online recruitment, as in monster.com, not jobless monsters, as in Buffy the Vampire Slayer.
Also, natural gas inventories at 10:30 a.m., a Treasury Secretary Tim Geithner speech at noon, and the Fed balance sheet and money supply at 4:30 p.m.
Also, chain store sales sometime during the day.
Trading Calendar:
By my rules, at this point in the cycle I can trade September calendar and vertical spreads. Also, October straddles and single calls or puts. Shares, of course, are good anytime.
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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