3/7 Almanac

On Monday, March 7: Consumer credit.

There are 12 days before March options expire, 40 the April and 75 the May.

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



Stats

Blue chip stocks (SPY) closed the latest regular session down 0.8% from the prior close. During the day SPY traversed 1.5% in a net move down of 0.7%.

The day's extremes: Open $133.37, high $133.63, low $131.60, close $132.47.

SPY closed below the DeMark pivots after trading within their range. The next DeMark pivots are $131.02-$133.05.

In total, 2.9 billion shares were traded on the three major U.S. stock exchange, 6% fewer than on the prior trading day.

Five-year bond yields imply inflation at 2.65%, one basis points less than on the prior trading day.


Econ reports:

The Federal Reserve reports the dollar value of consumer credit at 3 p.m. Eastern.

Treasury auctions 3- and 6-month bills at 11:30 a.m.

Atlanta Fed Pres Dennis Lockhart gives a speech. He is a non-voting alternate member of the Federal Open Market Committee.

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

Later in the week, look for international trade and jobless claims on Thursday, and retail sales on Friday.

All in all, not a blockbuster econ week.


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!