There are 16 days before the February options expire, 44 the March and 72 the April.
On the jump, market stats, econ reports, and the trading calendar . . .
Stats
Blue chip stocks (SPY) closed the latest regular session down 0.2% from the prior close. During the day SPY traversed 0.4% in a net move up of 0.1%.
The day's extremes: Open $130.40, high $130.84, low $130.33, close $130.49.
SPY traded entirely within the DeMark pivots. The next DeMark pivots are $130.42-$130.92.
In total, 2.9 billion shares were traded on the three major U.S. stock exchange, 7% more than on the prior trading day.
Five-year bond yields imply inflation at 2.35%, unchanged from the prior trading day.
Econ reports:
Weekly jobless claims are out at 8:30 a.m. Eastern. Other potential market-movers: Productivity and costs at 8:30 a.m., factory orders at 10 a.m., and the Institute of supply Management's non-manufacturing index at 10 a.m.
Also, the jobs website Monster.com releases its employment index at 6 a.m., and natural gas inventories will be out at 10:30 a.m.
The Fed does the weekly balance sheet and money supply reports at 4:30 a.m.
Speaking of, Fed Chairman Ben Bernanke speaks at the National Press Club in Washington, at 12:30 p.m., and the Minneapolis Fed Pres. Narayana Kocherlakota also gives a speech. Both are a voting member of the Federal Open Market Committee.
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.
- M, MO: Possible entry.
Click here for stocks on my Watchlist.
Good trading!
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