3/3 Almanac

On Thursday, March 3: More employment previews, productivity.

There are 16 days before March options expire, 44 the April and 79 the May.

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



Stats

Blue chip stocks (SPY) closed the latest regular session up 0.2% from the prior close. During the day SPY traversed 1.1% in a net move up of 0.4%.

The day's extremes: Open $130.75, high $131.82, low $130.35, close $131.21.

SPY traded entirely within the DeMark pivots. The next DeMark pivots are $130.78-$132.25.

In total, 3 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 2.64%, five basis points more than on the prior trading day.


Econ reports:

The run-up to Friday's employment report blow-out continues, with the weekly jobless claims at 8:30 a.m. Eastern and the Monster employment index at 6 a.m. Employment week, with its growing anticipation, always reminds me of a night at the opera, when the conductor takes his stand and raises the baton. So, Friday, from the Labor Dept., a blast of Verdi.

Also out, a pair of occasional market movers: Productivity and cost per unit of labor from the Bureau of Labor Statistics, at 8:30 a.m., and the Institute of Supply Management's non-manufacturing index at 10 a.m.

Look for chain store sales at various times during the day, the natural gas report at 10:30 a.m., and an aria duet from the Fed at 4:30 p.m., with the balance sheet and money supply reports.

Two of the Fedsters are busy little divas. Minneapolis Fed Pres. Narayana Kocherlakota and Atlanta Fed Pres. Dennis Lockhart give speeches at separate venues.

Kocherlakota is a voting member of the Federal Open Market Committee, and Lockhart is a non-voting alternate member.

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 vertical and calendar spreads. Also, May or later straddles, calls and puts. And of course, shares are good at any time.


Good trading!