5/3 Almanac

On Tuesday, May 3: Factory orders, auto sales.

There are 18 days before May options expire, 46 the June, 74 the July and 109 the August.

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


Stats

Blue chip stocks (SPY) closed the latest regular session down 0.2% from the prior close. During the day SPY traversed 0.9% in a net move up of 0.6%.

The day's extremes: Open $137.07, high $137.18, low $136.01, close $136.22.

SPY closed within the DeMark pivots after trading both above and below their range. The next DeMark pivots are $135.53-$136.70.

In total, 2.9 billion shares were traded on the three major U.S. stock exchanges, 13% fewer than on the prior trading day.

Five-year bond yields imply inflation at 2.49%, one basis point lower than the prior trading day.


Econ reports:

The Commerce Department reports on factory orders at 10 a.m. Eastern. The report is a measure of demand for products.

Also out, at various points in the day, auto sales.

Two weekly retail reports are due for release: ICSC-Goldman at 7:45 a.m., and Redbook at 8:55 a.m.

Treasury auctions 4- and 52-week bills at 11:30 a.m.

No Fedsters have scheduled public appearances. For text from past appearances, the Federal Reserve maintains an archive where it 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 and calendar spreads, as well as August or later straddles, strangles, calls and puts. And of course, shares are good at any time.


Good trading!