10/1 Almanac

On Friday, Oct. 1: Personal income and outlays, manufacturing.

Oh! And Happy 4th Quarter, everyone!!!

There are 15 days before the October options expire, 50 the November and 78 the December.

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

Stats

Blue chip stocks (SPY) closed the latest regular session down 0.3% from the prior close. During the day SPY traversed 1.9% in a net move down of 0.8%.

The day's extremes: Open $115.05, high $115.79, low $113.59, close $114.13.

SPY traded closed below the DeMark pivots after trading above their range. The next DeMark pivots are $112.76-$114.96.

In total, 3.5 billion shares were traded on the three major U.S. stock exchanges, 15% more than the prior trading day.


Econ reports:

Two major reports: Personal income and outlays -- what your making and spending -- and derived from that, what you're saving. That savings level is a key indicator of our willingness to spend our way back to prosperity. At 8:30 a.m. Eastern.

The second is the Institute of Supply Management's manufacturing index, at 10 a.m.

Three with lesser likelihood of moving the markets: Motor vehicle sales throughout the day, consumer sentiment at 9:55 a.m. and construction spending at 10 a.m.

Also, Fed Chair Bernanke addresses the Financial Stability Oversight Council


Trading Calendar:

By my rules, at this point in the cycle I can trade November verticals and shares.


What I'm looking for:

• CMG: Pullback to near the 20-day moving average (for entry as a bull play. Analysis.
• LO: A move back above 1% from the 20-day moving average, 2) a decisive bull phase from the fast stochastic, or 3) a whipsaw back to bull phase on Person's Proprietary Signal. Analysis.
• LVS: Further bear signals or a drop below the 20-day moving average to strengthen the case for exiting, or above above the swing high of $35.90 to make a case for (re)-entry
  

Other Watchlist stocks:

• Bull: LO, MO.
• Income: AOD, NLY.

Good trading!