Friday, July 1, 2011

7/5 Almanac

On Monday, July 4: All U.S. markets are closed for Independence Day. Markets in Europe and Asia, including forex in Sydney, Tokyo and London, will be open for trading.

I shall post results of a forex scan at the usual time (around 8:30 a.m. Eastern) on Monday, but shall not post Indicators, Top Prospects or an Almanac.

On Tuesday, July 5: U.S. markets resume trading. Factory orders.

There will be 11 trading days before the July options expire, 46 the August, 74 the September and 109 the October.

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


Blue chip stocks (SPY) closed the latest regular session up 1.5% from the prior close. During the day SPY traversed 1.8% in a net move up of 1.4%.

The day's extremes: Open $132.09, high $134.10, low $131.78, close $133.92.

SPY closed above the DeMark pivots after trading within their range. The next DeMark pivots are $132.85-$135.17.

In total, 2.4 billion shares were traded on the three major U.S. stock exchanges, 12% fewer than the prior trading day.

Five-year bond yields imply inflation at 2.16%, four basis points higher than the prior trading day.

Econ reports:

The Commerce Department releases its monthly factory orders report at 10 a.m. Eastern. It is sometimes a market mover, and is perhaps more likely to have impact this time because of the extraordinary focus on the chance of the economy relapsing into recession.

Treasury auctions 3- and 6-month bills at 11:30 a.m., and announces 4-week bill financing requirements at 11 a.m.

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

American readers: Enjoy the Glorious Fourth!

Readers from the Ukraine, Peru, the U.K., Germany, China, Russia, Malaysia, Iran, Canada, India, Uganda, France (to name a few from this week) and elsewhere in the global bazaar: Enjoy the weekend!!

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