Sunday, April 20, 2014

The Week Ahead: Durables, homes

Durable goods orders lead the week's economics reporting, with the release scheduled for Thursday at 8:30 a.m. New York time.

Earlier in the week, the housing market will be the focus, with existing home sales out Tuesday and new home sales on Wednesday, each at 10 a.m.

Leading indicators (in descending order of importance):

The interest rate spread between 10-year Treasuries and the federal funds rate, reported continually during market hours.

The M2 money supply, at 4:30 p.m. Thursday.

The S&P 500 index, reported continually during market hours.

Average weekly initial jobless claims, at 8:30 a.m. Thursday. 

The index of consumer expectations from the Reuters/University of Michigan consumer sentiment report, at 9:55 a.m. Friday.

Other reports of interest:

Wednesday: Purchasing Managers Index flash release at 9:45 a.m., and petroleum inventories at 10:30 a.m.

Thursday:  The Federal Reserve money supply report at 4:30 p.m.

Friday: Reuters/University of Michigan consumer sentiment report at 9:55 a.m.

I also keep an eye on the Baltic Dry Index, updated daily.


The Federal Reserve glitterati are absent from the calendar this week, with no appearances scheduled.

Analytical universe

This week I shall be analyzing new bull and bear signals among 3,914 small-cap and larger stocks and exchange-traded funds.

Trading calendar

By my rules, I'm trading May options for the short legs of vertical, diagonal and calendar spreads and covered calls, and for all legs of butterfly spreads and iron condors. I'm trading August options for single calls and puts as well as straddles. Shares, of course, are good at any time.

Good trading.

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