Thursday, June 16, 2011

6/17 Almanac

On Friday, June 17: Consumer sentiment, leading indicators

Friday is the last day June options will be traded. There are 29 trading days before the July options expire, 64 the August and 92 the September.

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


Blue chip stocks (SPY) closed the latest regular session up 0.2% from the prior close. During the day SPY traversed 1.3% in a net move up of 0.2%.

The day's extremes: Open $127.06, high $127.97, low $126.32, close $127.30.

SPY traded entirely within the DeMark pivots. The next DeMark pivots are $126.81-$128.46.

In total, 2.9 billion shares were traded on the three major U.S. stock exchanges, 6% fewer than on the prior trading day.

Five-year bond yields imply inflation at 2.01%, five basis points lower than the prior trading day.

Econ reports:

The University of Michigan, with Reuters, releases its consumer sentiment report at 9:55 a.m. Eastern. This report, sometimes a market mover, covers similar ground with the government's consumer confidence report, but from a different angle.

The index of leading economic indicators is out at 10 a.m. It is no longer considered to be a potential market mover, but there are those of us who love it still.

Friday is quadruple witching day, when stock index futures and options and single stock futures and options all expire together in a great Armageddon of expiration. (I use the term "Armageddon" in honor in honor of today's inbox, which had two stock-service promotions -- one from Jim Cramer -- with that dire prospect in the subject line.)

No Fedsters at the podium. 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 July vertical, calendar, diagonal and butterfly spreads, iron condors and covered calls, as well as September or later straddles, strangles, calls and puts. And of course, shares are good at any time.

Good trading!

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