Thursday, June 23, 2011

6/24 Almanac

On Friday, June 24: GDP, durable goods.

There are 22 trading days before the July options expire, 57 the August, 85 the September and 120 the October.

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


Blue chip stocks (SPY) closed the latest regular session down 0.3% from the prior close. During the day SPY traversed 1.9% in a net move up of 0.9%.

The day's extremes: Open $127.16, high $128.64, low $126.19, close $128.30.

SPY closed within the DeMark pivots after trading above their range. The next DeMark pivots are $127.25-$129.70.

In total, 3.1 billion shares were traded on the three major U.S. stock exchanges, 26% more than on the prior trading day.

Five-year bond yields imply inflation at 1.88%, eight basis points lower than the prior trading day.

Econ reports:

The final first-quarter gross domestic product figures will be released at 8:30 a.m. Eastern, concurrently with the durable goods sales numbers. Both can be big market movers when the stars are just right, the moon is in the 7th house and Jupiter aligns with Mars.

And also at 8:30 a.m., Commerce releases a brief report on corporate profits, which, in living memory, hasn't moved the markets at all.

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

Good trading!

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