There are 10 days before the September options expire, 38 the October and 73 the November.
On the jump, market stats, econ reports, and the trading calendar . . .
Stats
Blue chip stocks (SPY) closed the latest regular session down 1.1% from the prior close. During the day SPY traversed 0.9% high to low in a net move down of 0.7%.
The day's extremes: Open $110.37, high $110.51, low $109.55, close $109.64.
SPY closed below the DeMark pivots. The next DeMark pivots are $109.12-$110.08.
In total, 2.5 billion shares were traded on the three major U.S. stock exchanges, 5% fewer than on the prior trading day.
Econ reports:
The Federal Reserve's Beige Book will be released at 2 p.m. Eastern. This is surprise-free, never a market-mover. But it is interesting reading.
The consumer credit report will be released at 3 p.m. With everyone trying to eliminate debt, think down.
Other stuff: Mortgage bankers purchase applications, a leading indicator for housing, at 7 a.m.; the ICSC-Goldman stores sales at 7:45 a.m.; Redbook's retail report at 8:55 a.m.; and a quarterly survey of info-tech industries from the Census Bureau 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, November straddles and single calls or puts. Shares, of course, are good anytime.
Good trading!
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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