TRADING WEEK DEC11-15

The market started on a downward trend last Monday. It did not, however, travel too far or last too long. A negative gamma position needed little or no adjusting. The intraday trading ranges for the week were 4.78, 2.72, 4.53, 2.61 and 3.51. The hi-lo for the week was 6.41. On Tuesday, the CPI comes out at 8:30am ET, followed twenty-four hours later by the PPI. Not too long ago market watchers would be waiting with bated breath for those two results. That's no longer the case. On Thursday, U.S. Retail Sales comes out at 8:30am ET. Industrial Production comes out at 9:15am ET on Friday. If there are no big inflationary numbers at the beginning of the week, nor any recessionary numbers at the end of the week the you can expect another snoozer. The 29Dec23-15Dec23 long time value spread at 1.43 seems like just the ticket for this negative gamma environment. ORCL releases earnings on Monday after the close.