9/30 Almanac

On Thursday, Sept. 30: GDP and jobless claims. Ka-Pow! A double whammy!!

There are 16 days before the October options expire, 51 the November and 79 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 0.8% in a net move up of 0.08%.

The day's extremes: Open $114.38, high $114.91, low $114.02, close $114.47.

SPY traded entirely with the DeMark pivots after trading below their range. The next DeMark pivots are $114.25-$115.14.

In total, 3 billion shares were traded on the three major U.S. stock exchanges, 3% more than the prior trading day.


Econ reports:

Two potentially big market movers in the econ report mix for Thursday.

Gross Domestic Product, released at 8:30 a.m. Eastern, is the broadest measure of how the economy is doing. The September release will be a final for the quarter that ended June 30. The most recent revision to that figures was 1.6% growth.

If the GDP moves like the ponderous Titanic, unable to avoid icebergs, the weekly jobless claims report, also out at 8:30, is a nimble hydrofoil, able to turn on a time. It's the freshest data available anywhere on how the economy is doing, at least as it relates to jobs.

(And for people who have been laid off or unable to find work, jobs are the economy.)

So the markets will have much to ponder at the open, an hour after those reports are relesed.

Natural gas inventories at 10:30 a.m., important for the energy sector.

Small fry: Corporate profits at 8:30 a.m. and Chicago purchasing managers at 9:45 a.m.

Also, testimony by Fed Chairman Ben Bernanke before the Senate Banking committee, at 10 a.m. Will Ben commit news?


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 (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!