Tuesday, July 19, 2011

7/20 Almanac

On Wednesday, July 20: Existing home sales.

There are 31 trading days before the August options expire, 59 the September, 94 the October and 122 the November.

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


Blue chip stocks (SPY) closed the latest regular session up 1.6% from the prior close. During the day SPY traversed 1.2% in a net move up of 1.1%.

The day's extremes: Open $131.34, high $132.89, low $131.31, close $132.73.

SPY traded entirely above the DeMark pivots. The next DeMark pivots are $132.02-$133.60.

In total, 2.8 billion shares were traded on the three major U.S. stock exchanges, 2% more than on the prior trading day.

Five-year bond yields imply inflation at 2.11%, two basis points more than on the prior trading day.

Econ reports:

Existing home sales will be reported at 10 a.m. Eastern. This indicator tracks the greater share of housing transactions: Sales of This Old House -- homes that aren't newly built.

Also out, petroleum inventories at 10:30 a.m. -- big for the energy sector -- and the Mortgage Bankers' weekly purchase applications report at 7 a.m.

No Fedsters are scheduled for the podium. The Federal Reserve maintains an archive of speeches and testimony.

Trading Calendar:

By my rules, at this point in the cycle I can trade August vertical, diagonal, calendar 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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