Friday, May 27, 2011

5/31 Almanac

On Monday, May 30: U.S. markets will be closed for the Memorial Day holiday.

On Tuesday, May 31: Consumer confidence.

There are 18 trading days before the June options expire, 46 the July, 81 the August and 109 the September.

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


Blue chip stocks (SPY) closed the latest regular session up 0.4% from the prior close. During the day SPY traversed 0.7% in a net move up of 0.1%.

The day's extremes: Open $133.37, high $133.87, low $132.96, close $133.51.

SPY closed within the DeMark pivots after trading above their range. The next DeMark pivots are $133.24-$134.15.

In total, 2.3 billion shares were traded on the three major U.S. stock exchanges, 17% fewer than on the prior trading day.

Five-year bond yields imply inflation at 2.11%, one basis point lower than the prior trading day.

Econ reports:

The Conference Board releases its survey of consumer confidence at 10 a.m. Eastern. It is sometimes a market mover because, Dear Consumer, it is all up to you to pull the economy out of the doldrums of recession and despair.

Other reports: The S&P Case-Shiller home price index at 9 a.m., the Chicago purchasing managers index at 9:45 a.m., and the State Street (Boston) investor confidence index.

Also, farm prices from the Ag Department at 3 p.m.

Treasury auctions 3- and 6-month bills at 11:30 a.m., and announces funding requirements for its next 4-week bill auction at 11 a.m.

No Fedsters on the horizon. The Federal Reserve maintains an archive, where it posts transcripts of speeches and testimony within a few days of the event.

Later in the week, look for the Institute of Supply Management's manufacturing index on Wednesday, weekly jobless claims on Thursday, and the ever popular often depressing employment and unemployment report on Friday.

Trading Calendar:

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

Enjoy the holiday! And remember the fallen.

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