DTI Daily Rundown - July 27

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On TBUZ TV Today:

4610 Pivot. 4645 Resistance 4590 Support

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

10:30am ET through 11:30am ET Weekend Side Hustle

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Market Review:

What the FOMC says… Oh Wait, Only 3 More Days in July

This market changed quickly from reacting to the news, to closing out the month. The monthly closeouts for most of this year have been rallies, and thus far, July does not seem different. We set a new high for the year yesterday after the FOMC and set another one in overnight trading. If the market can stay near the high, then after the end of this month, August starts with a bit of a head start.

Dangers lurk though. Not just from this morning's ECB announcement and Press conference. Later this evening, or Friday morning in Tokyo, the Bank of Japan (BoJ) will have its say. While the FOMC and the ECB are doing what is expected, the BoJ potentially could do something rather dramatic. However, there is a caveat. The BoJ has declined this potential before. Pressures are mounting, and if the BOJ does decide eventually to make a move on rates, it could be the most important news of the week.

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


Major Events:

July 28 PCE Price Index

Aug 1 ISM Non-Manufacturing

Aug 1 JOLTS Job Openings

Aug 2 ADP Employment

Aug 3 ISM Services PMI

Key Numbers Opens: Above or Below

4594.75 is the open

4564.25 is the open of the Week

4485.50 is the open of the Quarter

4188.50 was the open of last Month

3895.00 is the open of 2023

What's Hot and Not!

Gold and Silver

Take a look at a 30-minute chart of Gold. Since setting this week's low on Tuesday Gold has moved in a familiar pattern. Rally, hold, rally, pullback slightly, rally, hold. That is what a bullish market looks like. Silver charts are similar with two exceptions. One, the low was set on Monday instead of Tuesday. And Two, Silver seems a bit more… lively.

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