3/8 Almanac

On Tuesday, March 8: Big yawn. Two weekly retail reports, and some Treasury auctions.

There are 11 days before March options expire, 39 the April and 74 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 1.8% in a net move down of 1.1%.

The day's extremes: Open $132.86, high $133.16, low $130.74, close $131.43.

SPY closed within the DeMark pivots after trading above and below their range. The next DeMark pivots are $129.88-$132.30.

In total, 3.2 billion shares were traded on the three major U.S. stock exchange, 10% more than on the prior trading day.

Five-year bond yields imply inflation at 2.70%, five basis points higher than on the prior trading day.


Econ reports:

Two weekly retail reports will be released, the ICSC-Goldman store sales at 7:45 a.m. Eastern, and Redbook at 8:55 a.m.

Treasury auctions 4- and 52-week bills at 11:30 a.m., and 3-year notes at 1 p.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!