DTI Daily Rundown - March 29

On TBUZ TV Today: 4013.00 Pivot. 4052.00 Resistance 3985.00 Support Open of 2023: 3895.00, Open of March 3968.50 Gold pulled back with a calming in global markets. Alibaba break up, and First Republic

Market Review:

The Rollover Dilemma The open of the Month for the ESM23 contract was 4002.00. This is a true and correct statement. However, the story it tells is incomplete. Begin with this, the open of the Month for the ESH23 contract was 3968.50. Add on to that a general rule about futures contracts, the concept of lead at the time. Now, we have a bit of an issue. What was the open of the Month? For old school traders its simple. The open of the month was 3968.50, based on lead at the time. For newer traders looking at just the ESM23 contract it was 4002.00. When you are closing out the month, you should know where it opened. Usually this would be a non-issue. An aggressive premium has made this an issue. So be aware of both numbers as we close out March.

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Major Events: Mar 31 Core PCE Apr 3 ISM Manufacturing PMI Apr 4 JOLTS Job Openings Apr 5 ADP Employment Apr 5 ISM Services PMI Key Numbers Opens: Above or Below 4085.75 was the open of Feb 2023 4008.00 is the open of the Week 4006.50 is the open 3968.50 is the open of the Month 3895.00 is the open of 2023

What's Hot and Not! Eldorado Gold Corporation (EGO) EGO opened the year at 8.51. It opened March at 9.47. EGO set a high of the year at 10.22 yesterday. Pre-Market prices show that 10.22 being challenged today. Tuesday's low was 9.77, so we have EGO pivoting on the 10.00 level, and leaning toward resistance at the 10.22 high of the year.

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