Thursday, June 8, 2023

DTI Daily Rundown - June 08

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On TBUZ TV Today:

4275.00 Pivot.

4300.00 Resistance

4255.00 Support

Opens: 2023 3895.00; 2nd Quarter 4127.00; June 4188.50.

Listen to WOW Recording: https://vimeo.com/834242883/89b60d8168

80 for 20 at 9:15am ET. Prepare for July 6, 2023

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Market Review:

Premium:

Recap from yesterday

"There is currently a 43-point difference between the two contracts. That's roughly 1% for the ES futures. If we do start to see a pullback, 43 points lower than the current high of the ES would be 4262.75. Keep in mind, under guidelines from the CME, the June contract rolls to the September contract after the close on Friday."

In the last 24 hours since writing the above, we saw the ES move down to an overnight low of 4262.75. The low this week of the September contract is the current high of the year 4305.75. If the market fails to move lower between today and tomorrow, then rollover will flash into a new high of the year by simply not moving.


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

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Major Events:

June 13 CPI

June 14 PPI

June 14 FOMC Announcement and Press Conference

June 15 Retail Sales

Key Numbers Opens: Above or Below

4288.00 is the open of the Week

4273.25 is the open

4188.50 is the open of the Month

4127.00 is the open of the 2nd Quarter

3895.00 is the open of 2023

What's Hot and Not!

AMZN Upgrade and AAPL

AMZN upgrade should allow a recapturing of at least half the loss from the previous day, and failure to do so would be a flag worthy of attention.

AAPL 176.40, a close below this level is something to bear in mind as you evaluate the market moving forward.

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.

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