There are 22 days before the October options expire, 57 the November and 85 the December.
On the jump, market stats, econ reports, and the trading calendar . . .
Stats
Blue chip stocks (SPY) closed the latest regular session down 0.8% from the prior close. During the day SPY traversed 1.3% in a net move down of 0.01%. (I.e., it closed within two-tenths of a cent of the open.)
The day's extremes: Open $112.49, high $113.67, low $112.18, close $112.50.
SPY closed below the DeMark pivots. The next DeMark pivots are $112.34-$113.83.
In total, 2.9 billion shares were traded on the three major U.S. stock exchanges, 8% fewer than the prior trading day.
Econ reports:
The durable goods report is out at 8:30 a.m. Eastern. It tracks orders for big-ticket items and is a key indicator of industrial activity. If the recession is ending, then durable goods will tick up, and surely, O surely, jobs will follow. This would be a good thing.
Also, new home sales, at 10 a.m.
Trading Calendar:
By my rules, at this point in the cycle I can trade October covered calls, iron condors, and diagonal, butterfly, calendar and vertical spreads. Also, December straddles and single calls or puts. Shares, of course, are good anytime.
What I'm looking for:
- ENDP: A persistent break above $29.90. 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: An uptick to prompt bullish entry. Analysis.
No comments:
Post a Comment