DTI Daily Rundown - December 19

On TBUZ TV Today:

4790 Pivot.

4815 Resistance.

4770 Support.

Opens: 2023 3895.00; 4th Quarter 4349.00; Month 4571.75

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Market Review:

New High of the Year

The market has already made a new high of the year. The all-time high in the ES is 4808.25. This market is hunting that number. If and when we get above 4808.25 it will be interesting to see how the market reacts. It could react with a little more climbing. The market could jump past 4808.25 and 4815 and just take off. Or the market could reach an all-time high and start pulling back down.

If for some reason the market fails to exceed 4808.25 then we might be in for a long wait. The market would likely consolidate and try again. In that case the expectation is that it would keep trying. However, the market could reach a failure state, and begin an aggressive retracement.

Right now, all eyes are on 4808.25 in the ES futures.

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

Current version of RoadMap 10-20-2023

Genesis Bar: Dec 18 (11:30am ET)

High: 4794.25

Low: 4791.50

Major Events:

Dec 14 Retail Sales

Dec 15 Empire State Manufacturing Index

Dec 15 Flash Manufacturing PMI

Dec 15 Flash Services PMI

Key Numbers Opens: Above or Below

4677.75 is the open

4770.5 is the open of the Week

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!

FedEx Corporation (FDX)

FDX reports after the bell today. FDX opened the year at 174.97. At the start of the 2nd quarter they were trading at 227.32. FDX opened July at 247.11. The open of the 4th quarter was 266.00. FDX opened December at 259.15, and they closed last week at 281.29.

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