There are 17 days before the February options expire, 45 the March and 73 the April.
On the jump, market stats, econ reports, and the trading calendar . . .
Stats
Blue chip stocks (SPY) closed the latest regular session up 1.6% from the prior close. During the day SPY traversed 1.2% in a net move up of 1.0%.
The day's extremes: Open $129.46, high $130.97, low $129.38, close $130.74.
SPY traded entirely above the DeMark pivots. The next DeMark pivots are $130.06-$131.65.
In total, 2.8 billion shares were traded on the three major U.S. stock exchange, 12% fewer than on the prior trading day.
Five-year bond yields imply inflation at 2.35%, up four basis points from the prior trading day.
Econ reports:
Treasury announces its funding needs for the next two quarters at 9:00 a.m. Eastern. This is not considered to be a market-mover as such, but...
...it is a big deal for the bond market, because it tells how much competition there will be for borrowing, and therefore impacts interest rates.
...it is a big deal for politics and the partisan squabbling in Congress, because the amount of borrowing Treasury does impacts the amount of the federal debt, a hot-button issue in some conservative quarters.
...and also, it is a big deal for the economy in general, because the federal bond market has such huge influence, and also, as a matter of confidence in the government's fiscal health.
Enough with the ellipses. Onward...
The payroll processing company ADP releases its national employment report at 8:55 a.m. This is a preview of sorts of the government's employment and unemployment rate report, scheduled for release on Friday. More jobs stuff: Challenger, Gray & Christmas release their layoffs report at 7:30 a.m.
The weekly petroleum status report is out a 10:30 a.m. This may take on outsized significance, given the nervousness over the situation in Egypt. About 2% of the world's oil transits that country's Suez Canal.
The Mortgage Bankers release their report on purchase applications, a leading indicator for housing, at 7 a.m. Eastern.
Federal Reserve Gov. Elizabeth Duke gives a speech about her journey "from community banker to central banker". I'm guessing, not a market-mover.
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:
- XLE: Possibly add to my existing positions.
- XLP, VAR: Seeking an exit.
Click here for stocks on my Watchlist.
Good trading!
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