Tuesday, September 28, 2010

9/29 Almanac

On Wednesday, Sept. 29: Petroleum inventories. Also, ho and hum.

There are 17 days before the October options expire, 52 the November and 80 the December.

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


Blue chip stocks (SPY) closed the latest regular session up 0.4% from the prior close. During the day SPY traversed 1.6% in a net move up of 0.3%.

The day's extremes: Open $114.42, high $115.04, low $113.18, close $114.76.

SPY closed above the DeMark pivots after trading below their range. The next DeMark pivots are $113.97-$115.83.

In total, 2.9 billion shares were traded on the three major U.S. stock exchanges, 6% more than the prior trading day.

Econ reports:

Very slim pickin's.

Petroleum inventories are out at 10:30 a.m. Eastern. This report can move the energy sector, sometimes quite dramatically.

Others: Mortgage bankers' weekly report on purchase applications, leading indicator of home sales, at 7 a.m. And farm prices at 3 p.m.

Trading Calendar:

By my rules, at this point in the cycle I can trade shares. Seriously. It's an awkward time in the calendar.

What I'm looking for:
  • CMG: Pullback to near the 20-day moving average ($166.81) for entry as a bull play. Analysis.
  • ENDP: A move below $34.26 as an exit signal. 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.

Good trading!

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