DTI Daily Rundown - January 04

On TBUZ TV Today:

4755 Pivot.

4800 Resistance.

4740 Support.

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

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Market Review:

The First 5 days of January.

It has always been the first 5 days, and not the first week. That has always struck me as interesting. The holiday schedule almost demands that the first week of the year is at best 4 days. So, the market this year gets this week plus an extra day next week to make the first 5 days.

Today is a challenge day for the market. After two days moving down, the market has two remaining days this week. Then by the end of Monday next week the market will give us our first glimpse into 2024 expectations. Those expectations currently look grim. This market has shown a remarkable tendency to defy the expectation of a retracement.

This market though looks eerily like what we were seeing at the end of 2021 and the beginning of 2022.

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

Current version of RoadMap 10-20-2023

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

High: 4809.00

Low: 4801.75

Major Events:

Jan 5 Employment Situation Reports

Jan 11 CPI

Jan 12 PPI

Jan 16 Empire State Manufacturing Index

Key Numbers Opens: Above or Below

4818.00 is the open of 2024

4800.25 was the open of last Week

4750.00 is the open

4571.75 was the open of last Month

4349.00 was the open of last Quarter

What's Hot and Not!

STZ Constellation Brands

STZ reports earnings tomorrow morning. STZ opened 2023 at 232.00. The July 2023 open for STZ was 246.25. STZ opened 2024 at 240.64. While increasing in price from one year to the next, the performance in the back half of 2023 was less than stellar. STZ is picking up a good bit of market share and could be a bellwether moving forward.

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