On Thursday, Dec. 2: Pending home sales, weekly jobless claims.
There are 16 days before the December options expire, 51 the January and 79 the February.
On the jump, market stats, econ reports, and the trading calendar . . .
Stats
Blue chip stocks (SPY) closed the latest regular session up 2.1% from the prior close. During the day SPY traversed 0.9% in a net move up of 0.7%.
The day's extremes: Open $120.20, high $121.24, low $120.19, close $121.01.
SPY traded entirely above the DeMark pivots. The next DeMark pivots are $120.06-$121.65.
In total, 3.2 billion shares were traded on the three major U.S. stock exchange, 11% more than on the prior trading day.
Five-year bond yields imply inflation at 1.75%, up 7 basis points from the prior trading day.
Econ reports:
The Realtors' pending home sales, out at 10 a.m. Eastern, is by the book the most influential report of the day. The "pending" means signed and not closed.
But in truth, the main interest will be on lesser report that point toward Friday's (un)employment release.
The weekly jobless claims report will be out at 8:30 a.m. -- how many more or fewer workers are claiming unemployment benefits. The Monster(.com) employment index, from the online job hunt website, will be released a 6 a.m. Taken together, some traders hope, the pair will give guidance on how to position for Friday's big release, the most watch answer to the question, "How'we doin'??".
Also, natural gas inventories at 10:30 a.m., the Fed balance sheet and money supply at 4:30 p.m., and retail sales throughout the day.
Treasury will announce results of the 3-year, 10-year and 30-year bond auctions at 9 a.m., and of the 3-month and 6-month bill auctions at 11 a.m.
Trading Calendar:
By my rules, at this point in the cycle I can trade February straddles, calls and puts. And of course, shares are good at any time. Verticals will kick back in on Friday.
What I'm looking for:
Click here for stocks on my watchlists.
Good trading!
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