Friday, January 14, 2011

1/18 Almanac

U.S. markets will be closed on Monday, Jan. 17, for the M.L. King holiday. Forex will trade globally, and I shall post my daily Forex analysis by 10 a.m. Eastern time.

On Tuesday, Jan. 18: Empire State manufacturing, international capital, housing market index.

There are 4 days before the January options expire, 32 the February and 60 the March.

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


Blue chip stocks (SPY) closed the latest regular session up 0.7% from the prior close. During the day SPY traversed 1.0% in a net move up of 0.9%.

The day's extremes: Open $128.19, high $129.33, low $128.10, close $129.30.

SPY closed above the DeMark pivots. The next DeMark pivots are $128.70-$129.93.

In total, 3.1 billion shares were traded on the three major U.S. stock exchange, 10% more than on the prior trading day.

Five-year bond yields imply inflation at 2.20%, down two basis points from the prior trading day.

Econ reports:

The week opens with three occasional market-movers: The Empire State manufacturing survey at 8:30 a.m. Eastern, Treasury international capital at 9 a.m. and the housing market index at 10 a.m.

Empire state is focused on New York but, hey, As goes New York, so goes the nation. Or so thinking goes.

International capital tracks foreigns involvement in U.S. markets.

The housing market index is based on a monthly survey by the National Association of Home Builders.

Treasury will auction 3-month and 6-month bills.

Trading Calendar:

By my rules, at this point in the cycle I can trade February vertical, calendar, diagonal and butterfly spreads, iron condors and covered calls. Also, March straddles, calls and puts. And of course, shares are good at any time.

What I'm looking for:
  • Technical slow-trade entry opportunities for USO and XLI. I need a confirmation line upturn on the monthly chart in both cases.
  • Possible exit from slow trade MVO. Analysis.

Click here for stocks on my Watchlist.

Enjoy the weekend!

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