DTI Daily Rundown - December 07

On TBUZ TV Today: 4560 Pivot. 4587 Resistance. 4540 Support. Opens: 2023 3895.00; 4th Quarter 4349.00; Month 4571.75 Wednesday Recording: https://vimeo.com/892077409/a78276d421 Flash Meeting at 10:30am EST TBUZ Talk and Trade. Sign up!

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Market Review:

Rollover After the end of day Friday, the US Equity Futures will roll from December 2023 to March 2024 contracts. Currently the March contracts in the ES Futures are trading roughly 50 points higher than their December counterpart. Given that discrepancy there are a few numbers to consider. The first is the high of the year 4634.50. December contracts would need to be trading at 4634.50 –50, roughly 4584.00 so they do not make a new high when they open as lead Sunday night. That part seems to be front and center. The second number to consider is 4571.75, the open of the month. If we look at the negative end of the market, subtract 50 points from the month open and you will find 4522.00. If the December contract is above 4522.00, then the March contract will open as lead above the open of the month.

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

Current version of RoadMap 10-20-2023

Genesis Bar: Dec 6 (11:30am ET)

High: 4577.50 Low: 4568.75

Major Events: Dec 8 Employment Situation Reports Dec 12 CPI Dec 13 PPI Dec 13 FOMC Statement Dec 13 FOMC Press Conference Key Numbers Opens: Above or Below 4603.25 is the open of the Week 4571.75 is the open of the Month 4556.00 is the open 4349.00 is the open of the Quarter 3895.00 is the open of 2023

What's Hot and Not! Dec 8 Morning News The Employment Situation Reports released in the morning on Dec 8 may hang a shadow over this market. Consensus expectation is for the Employment Rate to remain at 3.9%. The Participation rate is expected to move up from 62.7% to 62.8%. If the numbers show a strong economy, it could be negative for the market, as we would need to wait longer for action from the FOMC.

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