Wednesday, April 20, 2011

4/21 Almanac

On Thursday, April 21: Jobless claims, Philly Fed survey.

There are 30 days before May options expire, 58 the June and 86 the July.

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


Blue chip stocks (SPY) closed the latest regular session up 1.4% from the prior close. During the day SPY traversed 0.5% in a net move up of 0.2%.

The day's extremes: Open $132.88, high $133.39, low $132.79, close $133.10.

SPY traded entirely above the DeMark pivots. The next DeMark pivots are $132.95-$133.55.

In total, 3.1 billion shares were traded on the three major U.S. stock exchanges, 20% more than on the prior trading day.

Five-year bond yields imply inflation at 2.81%, one basis point higher than the prior trading day.

Econ reports:

When the Philadelphia Fed survey makes the top of the chart, you know it's a slow day.

The survey, released at 10 a.m. Eastern, takes a look at business conditions in the mid-Atlantic. The idea is that the region is a good avatar for the nation.

Earlier, at 8:30 a.m., the weekly jobless claims report will be out.

Lesser but fascinating: The Federal Housing Finance Agency's house price index and the leading indicators, both at 10 a.m.; the natural gas report at 10:30 a.m.; and the Federal Reserve's balance sheet and money supply report at 4:30 p.m.

Treasury auctions 5-year inflation-indexed bonds (TIPS) at 11:30 a.m.

No Fedsters are scheduled to make public appearances.

An archive is available at the Federal Reserve web site, where the central bank 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 July or later straddles, calls and puts. And of course, shares are good at any time.

Good trading!

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