| | | | | Today’s TBUZ TV
It's going to be a marathon today! We will be trading and talking markets all day long. Here's the times... 10:30am ET, 11:30am ET, 12:30pm ET, 1:30pm ET, and 3:00pm ET! You can use the same link all day: https://dtitrader.com/live
“Failure is not the opposite of success: it’s part of success.” — Arianna Huffington
 
Friday
- 3pm - Weekly Wrap-Up  Market Editorial - Chuck Crow Cisco (CSCO)
CSCO pulled back to 60.84 on Wednesday, but it did rally after the earnings report to 64.23 before closing Wednesday at 61.92. The stock rallied to 65.75 in Thursday’s trading with a low at 62.46. This is a dividend paying stock, but we should still watch for a possible break in trend. Thursday’s low represents the backside of the daily trend. Wednesday’s low at 60.84 is where we know we are looking in the wrong direction.
Last Week’s Stocks
SMCI continued to push up to a high on May 14 at 47.13. The stock pulled back to a low on Thursday at 41.41. The target expressed by the upgrade was 41.00. At this point we do want to see SMCI hold above that same 41.00 level. However, real risk is the 38.50 level we have been watching for the past few months. This stock does not pay a dividend, so if they move below 38.00 traders should take profits from earlier entries.
APA has maintained a presence above the 17.00 pivot. They have not moved any higher than Tuesday’s 18.73, but if the stock can stay above 17.00 then there is still potential for higher prices. Real risk in this stock is likely below the May 9 low at 16.31. Consider that APA is a dividend paying stock. While considering that, also remember that 17.00 is the pivot number.
Observation
The week started with strength with an open at 5761.00 after closing the prior week at 5684.00. The market has not only traded above the high of the previous week, but has pushed enticingly close to the open of the year. ES futures started this year at 5949.25 and reached a high on Thursday at 5944.50. The low in the ES at 5867.00 is the risk. Dow futures still remain below their open of the year at 42935. They are above the open of the quarter at 42219. NQ Futures opened the year at 21269 and traded up to 21529.75 on Thursday. With the NQ up and the YM down, the ES becomes the balance. With that balance being ever so close to the open of the year at 5949.25 the market could swing on the reaction in the ES.
News for the Week
Probabilities for the Week
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*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
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