DTI Daily Rundown - May 5

On TBUZ TV Today: 4100.00 Pivot. 4135.00 Resistance 4075.00 Support Opens: 2023 3895.00; 2nd Quarter 4127.00; May 4190.00. Wed. Night's Recording: https://vimeo.com/823573584/6c6c676dbb Watch 4040.00 on the ES. Below that, look for a flash meeting!

Market Review:

Higher High / Lower Low So far in May we have traded both higher than the April high and lower than the April low. Unfortunately, this does not tell us a whole lot. The month of April was considerably constrained in terms of range. It was a small enough range that the month of May exceeded both sides of the range in only four days. The higher high, lower low setup is what we refer to as an outside bar. It is neither bullish, nor bearish, and yet somehow, a little bit of both. This creates a neutral read in the market. That neutral read can change quickly though. We know about 4040.00 on the lower side. Don't forget that 4208.50 is the current high of the year. If you missed Tom and Stephen Wednesday night, you can find the recording here: https://vimeo.com/823573584/6c6c676dbb

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Major Events: May 10 CPI May 11 PPI May 12 Consumer Sentiment May 15 Empire State Manufacturing Key Numbers Opens: Above or Below 4190.00 is the open of the Week 4150.00 was the open of last Week 4127.00 is the open of the Quarter 4077.25 is the open 3895.00 is the open of 2023

What's Hot and Not! MTI Indicator and 4040.00 Having a reasoned outlook for where support could be while the market is showing confusion is valuable. The current low of the month is 4062.25. The current low of the day is 4076.75, after a 4077.25 open. The market though has moved higher to a 4107.50 overnight high.

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