Tuesday, August 29, 2023

DTI Daily Rundown - August 29

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On TBUZ TV Today:

4435 Pivot.

4455 Resistance

4418 Support

Opens: 2023 3895.00; 3rd Quarter 4485.50; Month 4608.75

Recording from last night: https://vimeo.com/858486707/bd3f29070c

Connect the Dots at 10:45m ET.

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Market Review:

The Big Picture

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The month of August has seen our major markets take a turn lower. The big picture seems to be related not to the month, but rather to the quarter.

As of the open of this week, the ES market is down 1.5% from the open of the quarter. The NQ and the Russell are down a bit more, and the YM is fairing a little better. All four markets started this week below the open of the quarter. All four rallied on Monday.

The YM managed to peak above the July open for a short time on Monday. As we close out August, and gear up for September, don't forget July.


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

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Major Events:

Aug 30 ADP Employment and Preliminary GDP

Aug 31 Core PCE

Sep 1 Employment Reports

Sep 6 ISM Services PMI



Key Numbers Opens: Above or Below

4617.75 is the open of the Month

4485.50 is the open of the Quarter

4444.00 is the open

4418.00 is the open of the Week

3895.00 is the open of 2023

What's Hot and Not!

Salesforce, Inc (CRM) Reports Aug 30

CRM reports Wednesday. They opened the year at 135.19. They opened the quarter at 210.57, and opened August at 223.89. CRM opened this week at 210.45 and closed Monday at 211.72. Like much of the overall market, the month of August has seen a decline. It is a decline that has brought the market down to a level where the open of the quarter is a defining number.

Past performance is not indicative of future results. Futures trading involves substantial financial risk.

Please consult your personal financial advisor before using this information for your own trading purposes.

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