DTI Daily Rundown - May 15

On TBUZ TV Today: 4135.00 Pivot. 4175.00 Resistance 4125.00 Support Opens: 2023 3895.00; 2nd Quarter 4127.00; May 4190.00. Monday is a watch day. Watch and learn. Today at 9:15am ET: Workshop #2 for MTI Members

Market Review:

Middle of the Month, and Middle of the Market Last week we discussed this market moving back and forth between 4134.00 and 4150.00. In overnight trading we have moved up from an open of the week at 4132.25, to an early morning high at 4156.25. It's a new week, but it seems to be the same market. When a market spends an excessive amount of time in a relatively small range, that is typically an indication of a breakout looming. The first week of May produced a high of 4206.25 and a low of 4062.25. Last week, the range was 4173.25 to 4111.75. Pay attention to last week's high and low. If we stay between them then we are continuing to tighten.

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

Major Events: May 16 Retail Sales May 23 Manufacturing PMI May 24 FOMC Minutes May 25 GDP (Preliminary) Key Numbers Opens: Above or Below 4190.00 is the open of the Month 4151.00 was the open of last Week 4132.25 is the open of the Week 4077.25 was Friday's open 3895.00 is the open of 2023

What's Hot and Not! Debt Ceiling As long as the game continues to be played, the market will stop and stare. Usually these things come down to a resolution, but while we wait for the resolution, the market waits as well. Later this week we have earnings from DE, Deere & Company.

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