DTI Daily Rundown - March 22

On TBUZ TV Today: 4025.00 Pivot. 4075.00 Resistance 3960.00 Support Open of 2023: 3895.00, Open of March 3968.50 Had a great time with the SQQQ Class! FOMC this afternoon, and see where it takes gold at the end of the day.

Market Review:

All Eyes on Today, and on May 3 That CME FedWatch Tool is still showing the likely outcome of a quarter point rate hike later today. The percentage has firmed up to a little above 89%. That still leaves a greater than 10% chance of no change. It's important to note, this tool is based on market movements, and not on the thinking of the FOMC. So this could best be viewed as the market expectation of the FOMC action. Clicking over to the May 3 tab, you can see 5-5.25 sitting at over 65%. A week ago, that was at 36.2%, and just yesterday it was 59.8%. What will that look like this time tomorrow? There is a rate decision at 2:00pm ET today, but there is also a press conference at 2:30pm ET.

Over 70% of stocks track with the S&P 500 Futures

Major Events: Mar 22 FOMC Statement Mar 24 Flash Services PMI Mar 28 Consumer Confidence Mar 31 Core PCE Apr 3 ISM Manufacturing PMI Key Numbers Opens: Above or Below 4085.75 was the open of Feb 2023 4038.75 is the open 3968.50 is the open of the Month 3963.75 is the open of the Week 3895.00 is the open of 2023

What's Hot and Not! Gold Gold Futures opened the month at 1827.10 and the low in Gold this month has been 1811.50. Recently Gold has pushed up to a high of 2003.90. Tuesday's low of 1938.00 has already been pushed past, but the market could be making a small wave higher. Watch gold for the end of the day though, after the FOMC press conference.

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