| | | | | Today’s TBUZ TV
I'll be LIVE with my Weekly Wrap-Up at 3pm ET - Join Here. Also, if you missed me talking about the Opening Bell Breakouts this week then be sure to click here to listen to the replay.
“Develop success from failures. Discouragement and failure are two of the surest stepping stones to success.” —Dale Carnegie
 
Friday
- 3pm - Weekly Wrap-Up (Link)
 Market Editorial - Chuck Crow This Week’s StocksSMCI continues to hold below 38.50. This one way may be staying down for the foreseeable future. The last time we were close to the 38.50 resistance was on April 28 where the high was 37.82. On April 29 SMCI dropped to 28.75, and has only been up to 34.13 on May 2. They traded up to 33.19 on May 9. The bigger move would still be a break above 38.50, but if SMCI can move above 34.15 then it may make the run to challenge the 37.00 dollar level.
APA rallied to a high on Thursday at 16.37, and could be moving closer to the 17.00 resistance level. If the broader market continues its recovery then the break above 17.00 could be coming in the next few days. APA opened the 2nd quarter at 20.94. Observation This week started at 5705.00 and dropped to 5596.00, The recovery after the FOMC press conference brought the market back to the open of the quarter at 5644.25. Thursday’s rally pushed to a high of 5741.00. That is only 32.25 points below the high of April. If the market can move up to challenge that 5773.25 high, then it could continue.
Friday though could have a larger impact in terms of market behaviour. In the ES futures we are looking for the market to not only move higher, but also maintain the characteristics of a bullish market. In that endeavour we should expect Friday’s market to stay above the 5636.50 low from Thursday. We should also expect the high on Friday to exceed the 5741.00 high from Thursday. Ultimately though, we are looking for the market to just close above the open of the week at 5705.00. In terms of setting up the next week, the closer we close to the 5705.00 number the better. That would leave next week with a target to seek at 5773.25 and strong support from the performance of this week.
News for the Week
Probabilities for the Week
Follow along and join the conversation for real-time analysis, trade ideas, market insights and more!
Important Note: No one from the DTI Trader team or Tom Busby will ever contact you directly on Telegram.
*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
| | | | | |
|
|
0 Response to "Morning Market Update with TBUZ TV"
Post a Comment