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DTI Daily Rundown - July 13

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On TBUZ TV Today:

4510 Pivot.

4545 Resistance

4485 Support

Opens: 2023 3895.00; 3rd Quarter 4485.50; June 4188.50.

Last nights Mid-Week Market Update can be found here: https://vimeo.com/844779390/cf68ef4397

Weekend Side Hustle watch window at 11:30am ET

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Market Review:

The Spread

AS we saw with CPI, there is a spread that has been created between the standard, and the core numbers. The standard number includes food and energy, and the core does not. On CPI the year over year standard number came in at 3.0% and the core number was 4.8%. That is a difference between the two of 1.8%. PPI is projected to show a greater spread. The standard number is expected to be 0.5%. The core number is expected to be around 2.8%. That spread is expected at 2.3%.

If you try to find where that spread is coming from, most of it appears to come from energy, specifically from crude. The Light Sweet Crude (CL) futures in June of last year hit a high at 123.68. The high of July 2022 was 111.45. The June high this year was 75.06. Already in July CL moved higher to 76.16. As the spread starts to diminish, we need to discover if the standard CPI and PPI rise, or if the core starts falling.


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

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Major Events:

July 14 Consumer Sentiment

July 17 Empire State Manufacturing

July 18 Retail Sales

July 24 Flash PMI

Key Numbers Opens: Above or Below

4510.50 is the open

4485.50 is the open of the Month

4437.50 is the open of the Week

4188.50 was the open of last Month

3895.00 is the open of 2023

What's Hot and Not!

Gold

Gold futures (GC) opened the day at 1962.7. Yesterday's range was 1965.1 to 1937.5. Like most markets GC has already traded higher than yesterday's high. The way these markets are moving you should probably expect around 20 points of movement. The market needs to find some support after a very big move based on CPI yesterday.

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.

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