US Market 14 Mar 2020

On the weekly chart, US market (except Russell) broke hlf, slumped down and trimmed some losses before closing.  Russell broke pwl again and closed lower.
Dow tested the year 2018 low. S&P tested the year 2019 low. Nasdaq tested Jun 2019 low. Russell tested Oct 2016 low.

BDI closed higher, Harpex closed lower.

Dollar Index recovered and broke resistance.

Instruments that show buying interest (3) from Dealer/Intermediary (sell-side participants)
UT 

• None

Neutral 

• None

DT 

• Dow

Instruments that show selling interest at extreme (2) by Dealer/Intermediary (sell-side participants)
UT 

• None

Neutral 

• None

DT 

• None

Note

(1) COT Index >= 90, Buying interest at extreme
(2) COT Index <= 10, Selling interest at extreme
(3) COT Index >= 70, rising COT Index, monitor for trend reversal

Down Trend and Up Trend is based on 50 Simple Moving Average 

Dow

Daily DT, Weekly Neutral
Potential resistance around 23,175, 23,435, 23,567, 24,170, 24,837, 25,326, 25,645, 25,784

Potential support around 22,776, 22,121, 22,027, 21,659, 21,099, 20,756

S&P
Daily DT, Weekly Neutral

Potential resistance around 2,710, 2,747, 2,786, 2,814, 2,825, 2,854, 2,874, 2,940

Potential support around 2,593 2,551, 2,506, 2,480, 2,450, 2,406, 2,392, 2,366

Nasdaq
Daily DT, Weekly UT

Potential resistance around 7,859, 8,002, 8,196, 8,428, 8,781, 8,954, 9,166, 9,243

Potential support around 7,706, 7,516, 7,282, 7,134, 6,982, 6,516

Russell
Daily DT, Weekly Neutral
Potential resistance around 1,213, 1,240, 1,296, 1,341, 1,388, 1,420, 1,451, 1,508

Potential support around  1,185, 1,164, 1,137, 1,114, 1,095, 1,082, 1,049, 1,009

Key event to watch out  (SG Time, GMT+8)

16 Mar, Mon

• 1000 China Industrial Production (YoY) (Feb) 

17 Mar, Tue

• 0830 Australia RBA Meeting Minutes
• 1730 UK Average Earnings Index +Bonus (Jan)
• 1730 UK Claimant Count Change (Feb)
• 1800 German ZEW Economic Sentiment (Mar)
• 2030 US Core Retail Sales (MoM) (Feb) 
• 2030 US Retail Sales (MoM) (Feb)
• 2200 US JOLTs Job Openings (Jan)

18 Mar, Wed

• 1800 Europe CPI (YoY) (Feb)
• 2030 US Building Permits (Feb)
• 2030 Canada Core CPI (MoM) (Feb)
• 2230 US Crude Oil Inventories 

19 Mar, Thu

• 0200 US FOMC Economic Projections  
• 0200 US FOMC Statement  
• 0200 US Fed Interest Rate Decision 
• 0230 US FOMC Press Conference  
• 0545 New Zealand GDP (QoQ) (Q4)
• 0830 Australia Employment Change (Feb) 
• 1100 Japan BoJ Interest Rate Decision
• 1100 Japan BoJ Monetary Policy Statement 
• 1400 Japan BoJ Press Conference
• 1630 Switzerland SNB Interest Rate Decision 
• 1630 Switzerland SNB Monetary Policy Assessment  
• 2030 US Philadelphia Fed Manufacturing Index (Mar)

20 Mar, Fri

• Japan holiday
• 0930 China PBoC Loan Prime Rate 
• 2030 Canada Core Retail Sales (MoM) (Jan) 
• 2200 US Existing Home Sales (Feb)