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| Today’s TBUZ TV Flash meeting today at 2pm ET! See you then! "It is better to keep your mouth closed and let people think you are a fool than to open it and remove all doubt." ~ Mark Twain This Week at DTI Friday - 2pm ET - Flash Meeting (Join Here) - 3pm ET - Weekly Wrap Up (Join Here) Market Review - S&P Futures After making a new all time high on Wednesday, the market pulled back to 6102.75 on Thursday. Thursday’s high was 6159.50, and we open Friday’s market at 6132.50. The open of this week is 6138.25, and the close of last week was 6134.00. The range so far this week has been 6166.50 to 6102.75. The midpoint of this week’s market is 6134.625. If you look close enough, the numbers are telling a story. Take a look at the picture of a headline from last December WMT made a 13% jump in November, seemingly out of nowhere. And most traders were scratching their heads after missing out on this explosive move. But had they just known about an overlooked signal in the first three days of the month… they might have been able to see these breakouts coming. In my opinion, this signal is like adding “jet fuel” to your portfolio. And instead of taking years and years to watch these positions mature like you would with buying and holding, with my “jet fuel” approach, traders can target year-long returns in a month or less! Now, I can’t promise any future returns or guarantee against losses. But yesterday I sat down with ProsperityPub’s Editor-in-Chief, Stephen Ground, to tell him all about this trick. And you can listen to it all right here Editorial by Chuck Crow On February 19, Wednesday, the ES futures traded to a new all time high at 6166.50. It was the first time this year we traded above the high of 2024, 6163.75. The low on February 19 was 6129.25. On February 20, Thursday, the market dropped below that 6129.25 low and broke the daily uptrend. Daily trends tend to be fragile. Making and breaking a trend tends to happen often. The fact that a trend was broken does not necessarily mean the market is changing directions. At this point we are now looking for the market’s next action. The high on February 20 was 6159.50 and the low was 6102.75. The next step to the market is moving outside of that range. The bulls will be looking for a move above 6159.50 and the bears will be looking for a drop back below 6102.75. If a trend does develop, it could be in contrast to the longer term trends that may be already in place. Moving beyond the daily view of the market we can look at the numbers for the weekly trend. Last week the market broke a weekly downtrend, and then this week we started an uptrend. That trend will remain intact, so long as the ES futures manage to stay above 6014.00 throughout Friday’s trade date. One day is not enough to change that picture. In addition the high and low of February are respectively higher than the high and low of January. Even with an additional week to finish February that seems to be in good standing. On the quarterly perspective, the first quarter high is higher than the fourth quarter high, and the market has a low of the first quarter at 5809.00 that is well above the fourth quarter low at 5724.00. In the ES futures for Friday, we want to see the market show a bit of a recovery. At the very least staying above Thursday’s low at 6102.75 would give us a consolidating market. If the market does break below that 6102.75 low then it could drop below 6100.00 and move to challenge the 6051.50 high from the week of January 13. Walmart (WMT) At the start of this week we were looking for a possible sign that WMT was ready to make the jump past week’s high and run to 110.00. Any trading opportunity was conditionally based on WMT’s ability to move above 105.30. WMT not only did not move above 105.30, it also had a less than stellar earnings report. It may still be worth watching WMT for a move next week, but at this point, it looks like that trading opportunity did not present itself this week. Super Micro Computers Inc. (SMCI) SMCI continues an impressive run after moving above 38.50 last week. This week the stock opened at 51.00 and was able to move to a high of 66.44 on Wednesday. Just like the ES futures though, SMCI moved below Wednesday’s low at 55.61 and found support at 54.30. They closed Thursday at 59.40. We still have the February 25 deadline looming. As long as we stay above the 51.00 open of the week, this position may still be viable. Follow along and join the conversation for real-time analysis, trade ideas, market insights and more! Telegram: https://dtitrader.com/telegram YouTube: https://dtitrader.com/youtube *This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk. Important Note: No one from the DTI Trader team or Tom Busby will ever contact you directly on Telegram. |
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