Thursday, June 30, 2011

7/1 Almanac

On Friday, July 1: Manufacturing index.

There are 15 trading days before the July options expire, 50 the August, 78 the September and 113 the October.

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


Blue chip stocks (SPY) closed the latest regular session up 1.0% from the prior close. During the day SPY traversed 0.9% in a net move up of 0.6%.

The day's extremes: Open $131.14, high $132.18, low $130.99, close $131.97.

SPY closed above the DeMark pivots after trading within their range. The next DeMark pivots are $131.48-$132.67.

In total, 2.8 billion shares were traded on the three major U.S. stock exchanges, 1% more than the prior trading day.

Five-year bond yields imply inflation at 2.12%, two basis points higher than the prior trading day.

Econ reports:

The Institute of Supply Management releases its manufacturing index at 10 a.m. Eastern. It's based on an extensive survey of manufacturers and can move the markets.

Also out, consumer sentiment at 9:55 a.m., construction spending at 10 a.m. and motor vehicle sales throughout the day.

So, for econ reports, excluding cars and trucks, it's a 5-minute day.

No Fedsters are scheduled to speak. 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 August vertical spreads and October or later straddles, strangles, calls and puts. And of course, shares are good at any time.

Good trading!

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