Monday, April 18, 2011

4/19 Almanac

On Tuesday, April 19: Housing starts.

There are 32 days before May options expire, 60 the June and 88 the July.

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


Blue chip stocks (SPY) closed the latest regular session down 1.1% from the prior close. During the day SPY traversed 1.9% in a net move down of 3¢.

The day's extremes: Open $130.59, high $132.03, low $129.51, close $130.56.

SPY closed below the DeMark pivots after trading within their range. The next DeMark pivots are $128.78-$131.30.

In total, 2.8 billion shares were traded on the three major U.S. stock exchanges, barely changed from the prior trading day.

Five-year bond yields imply inflation at 2.77%, unchanged from the prior trading day.

Econ reports:

The government reports on housing starts at 8:30 a.m. Eastern. When the shovel bites the dirt, that's a housing start, and it's a key indicator of the health of the home-building industry, a backbone of the economy because good things in housing tend to spread widely.

Also, two weekly retail reports: ICSC-Goldman at 7:45 a.m., and Redbook at 8:55 a.m.

Treasury auctions 4-week bills at 11:30 a.m.

No Fedsters are scheduled to make public appearances -- all week, actually.

For past appearances, the Federal Reserve often posts transcripts of speeches and testimony within a few days of the event.

All markets are closed on Friday.

Trading Calendar:

By my rules, at this point in the cycle I can trade May vertical, calendar, diagonal and butterfly spreads, iron condors and covered calls, as well as June or later straddles, calls and puts. And of course, shares are good at any time.

Good trading!

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