Thursday, April 21, 2011

4/25 Almanac

Markets are closed on Friday, April 22, except for forex trading.

On Monday, April 25: New home sales. There are 26 days before May options expire, 54 the June and 82 the July.

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


Blue chip stocks (SPY) closed the latest regular session up 0.5% from the prior close. During the day SPY traversed 0.6% in a net move down of 1¢.

The day's extremes: Open $133.79, high $133.84, low $133.10, close $133.78.

SPY closed above the DeMark pivots after trading within their range. The next DeMark pivots are $133.07-$133.81.

In total, 2.7 billion shares were traded on the three major U.S. stock exchanges, 12% fewer than on the prior trading day.

Five-year bond yields imply inflation at 2.78%, three basis points lower than the prior trading day.

Econ reports:

The government's new-home-sales figures will be out at 10 a.m. Eastern.

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

Later in the week, look for consumer confidence on Tuesday; durable goods and the Federal Open Market Committee's meeting and announcement, including the first-ever announcement news conference by a Federal Reserve chair, on Wednesday; GDP, weekly jobless claims and pending home sales on Thursday; and personal income and outlays on Friday.

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.

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.

Enjoy the long weekend!

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