Tuesday, January 9, 2024

DTI Daily Rundown - January 09

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On TBUZ TV Today:

4775 Pivot.

4810 Resistance.

4740 Support.

Opens: 2024 4818.00; 4th Qtr. 2023 4349.00; Dec 4571.75

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Market Review:

The First 5 days of January.

Monday was the fifth day of the month of January. Many traders enjoyed a bullish run in this market. Understanding what a market is trying to do is important to understanding trading. Yesterday was a classic example. The first 4 days of the year saw the market moving lower. However, the market is typically judged by its 5-day performance. A rally was in the cards, but the extent of the rally was an open question. With the open of the week at 4735.75 and the open of the year at 4818.00 the S&P was in trouble. It needed to move up strong early to have a chance at getting to 4818.00. We ended up with somewhat of a compromise. Monday was strong, but the market failed to reach 4818.00. What is the price of that failure?


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

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Genesis Bar: Jan 3 (11:30am ET)

High: 4809.00

Low: 4801.75

Major Events:

Jan 11 CPI

Jan 12 PPI

Jan 16 Empire State Manufacturing Index

Jan 17 Retail Sales

Key Numbers Opens: Above or Below

4818.00 is the open of 2024

4797.75 is the open

4735.75 is the open of the Week

4571.75 was the open of last Month

4349.00 was the open of last Quarter

What's Hot and Not!

Earnings this Week.

It's time to focus on finance. This week we have earnings reports from JP Morgan, Bank of America, Wells Fargo, and others. January 12 will be a very large earnings day.

Keep in mind, financials are not a part of the NQ.

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.

RISK DISCLAIMER There is a very high degree of risk involved in trading.. DTI Trader and all individuals affiliated with this site assume no responsibility for your trading results. The indicators, strategies, columns, and all other features are for educational purposes only and should not be construed as advice. Information for futures trading observations are obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. Your use of the trading observations is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the information. You must assess the risk of any trade with your broker and make your own independent decisions regarding any securities mentioned herein.

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