Tuesday, January 2, 2024

DTI Daily Rundown - January 02

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On TBUZ TV Today:

4818 Pivot.

4841 Resistance.

4770 Support.

Opens: 2023 4818.00; 4th Quarter 4349.00; Month 4571.75

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Market Review:

January 2024

The year has started with a fizzle as the market drops in overnight trading. The ES opened the year at 4818.00. The market has moved down below 4800.00. The downside of the market could be coming into focus. The high in 2023 was 4841.50.

We are focused not just on the first day, but on the first five days. Have patience with this market. At the same time, we should all trade the market that we see.

At the very end of the year the market showed signs of retracing. One target of that retracement may have been 4771 which was the 2022 open of the year.

3 Numbers worth watching: 4771.00, 4818.00, and 4841.50.


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

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Genesis Bar: Dec 29 (11:30am ET)

High: 4809.00

Low: 4801.75

Major Events:

Jan 3 ADP Non-Farm Employment Change

Jan 3 ISM Manufacturing PMI

Jan 3 JOLTS Job Openings

Jan 3 FOMC Minutes

Key Numbers Opens: Above or Below

4818.00 is the open

4800.25 was the open of last Week

4571.75 was the open of last Month

4349.00 was the open of last Quarter

3895.00 was the open of 2023

What's Hot and Not!

Holiday Markets

Holiday markets tend to trend, except when they don't.

This is the opposing side of the holiday. It is still a short week though. The festivities may have been concluded, and the market is less likely to be low volume on this first week of January. The volume flooding back in should provide some liquidity for the market.

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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