Monday, June 20, 2011

6/21 Almanac

On Tuesday, June 21: Existing home sales.

There are 25 trading days before the July options expire, 60 the August, 88 the September and 123 the October.

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 1.1% in a net move up of 0.9%.

The day's extremes: Open $126.62, high $127.97, low $126.58, close $127.70.

SPY closed above the DeMark pivots after trading within their range. The next DeMark pivots are $127.14-$128.53.

In total, 2.4 billion shares were traded on the three major U.S. stock exchanges, 39% fewer than on the prior trading day.

Five-year bond yields imply inflation at 1.97%, one basis point lower than the prior trading day.

Econ reports:

The National Association of Realtors reports on existing home sales at 10 a.m. Eastern. These properties have been lived in before and constitute by far the greater share of the housing market, compared to new homes.

Also out, two weekly retail reports: ICSC-Goldman at 7:45 a.m., and Redbook at 8:55 a.m.

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

The Federal Open Market Committee begins a two-day meeting, but Fedsters won't emerge from their curial seclusion until Wednesday.

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 October or later straddles, strangles, calls and puts. And of course, shares are good at any time.

Good trading!

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