3/9 Almanac

On Wednesday, March 9: Petroleum, a Treasury auction.

There are 10 days before March options expire, 38 the April and 73 the May.

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



Stats

Blue chip stocks (SPY) closed the latest regular session up 0.9% from the prior close. During the day SPY traversed 1.5% in a net move up of 0.7%.

The day's extremes: Open $131.64, high $133.00, low $131.07, close $132.58.

SPY closed above the DeMark pivots after trading within their range. The next DeMark pivots are $131.83-$133.76.

In total, 2.5 billion shares were traded on the three major U.S. stock exchange, 22% fewer than on the prior trading day.

Five-year bond yields imply inflation at 2.74%, four basis points higher than on the prior trading day.


Econ reports:

You know it's the slow day when the high point is the weekly petroleum inventories report, out at 10:30 a.m. Eastern.

The Census Bureau reports on wholesale trade at 10 a.m., and the Mortgage Bankers Association releases its purchase applications report at 7 a.m.

Treasury auctions 10-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!