5/5 Almanac

On Thursday, May 5: Jobless claims.

There are 16 days before May options expire, 44 the June, 72 the July and 107 the August.

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


Stats

Blue chip stocks (SPY) closed the latest regular session down 0.7% from the prior close. During the day SPY traversed 1.1% in a net move down of 0.6%.

The day's extremes: Open $135.67, high $135.73, low $134.23, close $134.83.

SPY closed within the DeMark pivots after trading below their range. The next DeMark pivots are $133.78-$135.28.

In total, 3.4 billion shares were traded on the three major U.S. stock exchanges, 4% more than on the prior trading day.

Five-year bond yields imply inflation at 2.44%, two basis points lower than the prior trading day.


Econ reports:

Weekly jobless claims are out at 8:30 a.m. Eastern, the last sneak preview of the unemployment report that will be released on Friday. A private-sector report -- the Monster (.com) employment index -- is out at 6 a.m., monsters being early risers.

Also out: Productivity at 8:30 a.m., natural gas at 10:30 a.m. and chain store sales throughout the day.

The Federal Reserve delivers its weekly one-two punch with the Fed balance sheet and money supply numbers, both at 4:30 p.m.

And speaking of the Fed, Chairman Bernanke makes a speech, and so does Minneapolis Fed Pres. Narayana Kocherlakota. Both sit on the monetary policy committee. When these guys wink, markets move.

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!