There are 18 days before the February options expire, 46 the March and 74 the April.
On the jump, market stats, econ reports, and the trading calendar . . .
Blue chip stocks (SPY) closed the latest regular session up 0.8% from the prior close. During the day SPY traversed 0.8% in a net move up of 0.5%.
The day's extremes: Open $128.07, high $128.78, low $127.75, close $128.68.
SPY traded entirely within the DeMark pivots. The next DeMark pivots are $128.22-$129.25.
In total, 3.1 billion shares were traded on the three major U.S. stock exchange, 14% fewer than on the prior trading day.
Five-year bond yields imply inflation at 2.31%, up six basis points from the prior trading day.
The Institute of Supply Management releases its manufacturing index at 10 a.m. Eastern, motor vehicle sales throughout the day, and a couple of weekly retail reports: ICSC-Goldman store sales at 7:45 a.m. and Redbook at 8:55 a.m.
Treasury auctions 4-week bills at 11:30 a.m.
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.