Friday, March 18, 2011

3/21 Almanac

On Monday, March 21: Existing home sales.

There are 26 days before April options expire, 61 the May and 89 the June.

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


Blue chip stocks (SPY) closed the latest regular session down 0.1% from the prior close. During the day SPY traversed 1.1% in a net move down of 0.8%.

The day's extremes: Open $128.84, high $128.88, low $127.51, close $127.76.

SPY closed within the DeMark pivots after trading above their range. The next DeMark pivots are $126.83-$128.12.

In total, 2.6 billion shares were traded on the three major U.S. stock exchange, 8% fewer than on the prior trading day.

Five-year bond yields imply inflation at 2.69%, two basis points higher than on the prior trading day.

Econ reports:

The Realtors announce existing home sales at 10 a.m. Eastern. Such homes, where people already live, account for the greater part of the housing market.

Treasury announces 3- and 6-month 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.

Later in the week, look for new home sales on Wednesday, durable goods and weekly jobless claims on Thursday, and gross domestic product on Friday.

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.

Enjoy the weekend!

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