There are 12 days before the October options expire, 47 the November and 75 the December.
On the jump, market stats, econ reports, and the trading calendar . . .
Stats
Blue chip stocks (SPY) closed the latest regular session up 0.4% from the prior close. During the day SPY traversed 1.0% in a net move down of 0.3%.
The day's extremes: Open $114.99, high $115.12, low $113.93, close $114.61.
SPY traded closed within the DeMark pivots after trading above their range. The next DeMark pivots are $113.68-$114.87.
In total, 3 billion shares were traded on the three major U.S. stock exchanges, 15% fewer than the prior trading day.
Econ reports:
The pending home sales report, released at 10 a.m. Eastern by the National Association of Realtors, tracks transactions that are in the pipeline. The buyer and seller wannabes have signed the contract, deposits have changed hands, but the deal hasn't closed yet. So it's really a near-term forward looking indicator for the housing market. It can move markets generally, since housing is key to economic recovery.
The other super-major report of the week is employment and the unemployment percentage, on Friday.
Trading Calendar:
By my rules, at this point in the cycle I can trade November vertical and calendar spreads, December straddles, calls and puts. And of course, shares are good at any time.
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
- Bull: LO, MO.
- Income: AOD, NLY.
Enjoy the weekend!
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