There are 19 days before the February options expire, 47 the March and 75 the April.
On the jump, market stats, econ reports, and the trading calendar . . .
Stats
Blue chip stocks (SPY) closed the latest regular session down 1.8% from the prior close. During the day SPY traversed 2.2% in a net move down of 1.9%.
The day's extremes: Open $130.14, high $130.35, low $127.51, close $127.72.
SPY closed below the DeMark pivots after trading within their range. The next DeMark pivots are $126.20-$129.04.
In total, 3.6 billion shares were traded on the three major U.S. stock exchange, 21% more than on the prior trading day.
Five-year bond yields imply inflation at 2.25%, up three basis points from the prior trading day.
Econ reports:
The Commerce Department releases figures on personal income and consumption spending, both of which are crucial to the shop-till-you-drop theory of what drives the economy. Out at 8:30 a.m. Eastern. Sometimes a market mover.
The Institute of Supply Management releases its purchasing managers index of business conditions in Chicago at 9:45 a.m.. As goes Chicagoland, so goes the nation.
The Ag Department releases the farm prices report -- how much farmers are getting for what they grow -- at 3 p.m.
Treasury auctions 3- and 6-month bills at 11:30 a.m.
Atlanta Federal Reserve Bank President Dennis Lockhart, an alternate member of the money-policy committee, holds a discussion with students. He tends toward the inflation-optmistic side of the spectrum.
Later in the week, look for the ISM manufacturing index on Tuesday, jobless claims on Thursday, and the all-important government employment situation report (unemployment percentage) on Friday.
Trading Calendar:
By my rules, at this point in the cycle I can trade March vertical and calendar spreads. Also, April or later straddles, calls and puts. And of course, shares are good at any time.
What I'm looking for:
- SBUX: Exit on retracement. Analysis.
- XLE: Possibly add to my existing positions.
Click here for stocks on my Watchlist.
Enjoy the weekend!
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