DTI Daily Rundown - December 05

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/889733804/d053ac6a0f

10:45am Connect the DOTS. On SLV keep an eye on 23.11.

Flash Meeting at 3:00pm EST.

Scroll down to the bottom of the link, put in your name and email address, and get TBUZ TV

Market Review:

Corrective or Anticipatory

The ES futures opened December at 4571.75 and rallied to a new high of the quarter at 4607.75. In other words, December has already traded higher than the high of November. Monday, and early Tuesday morning the market has been retracing that Friday rally. In one sense this early move down this week is a bit of a correction of Friday's rally. The rally was not just on Friday. Throughout November the market showed tremendous strength. ES futures in November were up over 8%. If the market is moving into a corrective mode, there could be a lot of correction ahead. If this pullback is anticipatory, that paints a different picture. The futures market may be prepping for life after rollover. When the March contract becomes lead the price of the ES will be roughly 50 points higher. This retracement could simply be in anticipation of the price point change. We should know by mid-December which this is.

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

Current version of RoadMap 10-20-2023

Genesis Bar: Dec 4 (11:30am ET)

High: 4570.50

Low: 4558.50

Major Events:

Dec 6 ADP Non-Farm Employment Change

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

4573.00 is the open

4571.75 is the open of the Month

4349.00 is the open of the Quarter

3895.00 is the open of 2023

What's Hot and Not!

Futures contracts roll after the 2nd Friday.

US Equity Futures Indices will be rolling contracts at the end of this week. In the ES, the current high of the year is 4634.50. The Mach contract is trading roughly 50 points higher than the current December contract. That would make 4584.00 a line of demarcation. If we close this week above 4584.00, then we may open next week at the high of the year.

Download and Print Your DTI Daily Rundown Here

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.