3/15 Almanac

On Tuesday, March 15: Monetary policy announcement, international capital.

There are four days before March options expire, 32 the April and 67 the May.

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



Stats

Blue chip stocks (SPY) closed the latest regular session down 0.6% from the prior close. During the day SPY traversed 1.1% in a net move up of 0.05%.

The day's extremes: Open $129.99, high $131.48, low $129.06, close $130.05.

SPY traded below the DeMark pivots after trading within their range. The next DeMark pivots are $129.56-$130.98.

In total, 2.8 billion shares were traded on the three major U.S. stock exchange, 2% more than on the prior trading day.

Five-year bond yields imply inflation at 2.61%, one basis point lower than on the prior trading day.


Econ reports:

The monetary policy folks -- the Federal Open Market Committee meet and then issue a statement at 2:15 p.m. Eastern. This can cause either a massive explosion in market volatility, or it can be a wet firecracker. I'm betting, Wet Firecracker.

The Federal Reserve Bank of New York releases its Empire State manufacturing survey at 8:30 a.m. The idea behind it is that as goes New York, so goes the nation.

Labor releases import and export prices, tracking inflation or deflation in products traded abroad, also at 8:30 a.m.

Treasury announces figures on foreign ownership of U.S. Treasuries and other financial instruments at 9 a.m. These are the numbers that feed the paranoia in some circles about China taking over ownership of the United States -- when the Chinese buy a bond, we owe them.

And the Home Builders report their housing market index at 10 a.m.

Also out, two weekly retail reports, ICSC-Goldman store sales at 7:45 a.m., and Redbook at 8:55 a.m.

Treasury will auction 4-week bills at 11:30 a.m.

No Fedsters are speaking, but if they were...

The Federal Reserve often posts transcripts of speeches and testimony within a few days of the event.


Trading Calendar:

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


Good trading!