US Market 13 Jun 2020

On the weekly chart, US market closed lower with a -roc outside day.

Dollar Index tested support and rebounded.

BDI rebound strongly but Harpex continues to be weak.

Japan, Switzerland  and UK will have to make a decision on this week

US Fed's Chair Powell will be speaking on a few occasions.

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

UT 

• Dow
• S&P (1)
• Russell

Neutral 

• None

DT 

• None

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 UT, Weekly DT
Potential resistance around 25,645, 25,784, 26,245, 26,627, 26,976, 27,350, 28,195

Potential support around 25,326, 24,837, 24,170, 23,567, 23,435, 23,175, 22,776

S&P
Daily UT, Weekly Neutral

Potential resistance around 3,072, 3,155, 3,219, 3,303, 3,391, 3,454

Potential support around 3,022, 2,983, 2,940, 2,874, 2,854, 2,825, 2,814,  2,786

Nasdaq
Daily UT, Weekly UT

Potential resistance around 9,723, 9,873, 10,595

Potential support around 9,243, 8,781, 8,428, 8,196, 8,002, 7,859, 7,706

Russell
Daily UT, Weekly DT
Potential resistance around 1,388, 1,420, 1,451, 1,508, 1,519, 1,543, 1,585, 1,609

Potential support around 1,341, 1,296, 1,287, 1,259, 1,240, 1,213, 1,185, 1,164

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

15 Jun, Mon

• 1000 China Industrial Production (YoY) (May)

16 Jun, Tue

• 0930 Australia RBA Meeting Minutes
• 1100 Japan BoJ Interest Rate Decision
• 1400 UK Average Earnings Index +Bonus (Apr)
• 1400 UK Claimant Count Change (May)
• 1400 Japan BoJ Press Conference
• 1700 German ZEW Economic Sentiment (Jun)
• 2030 US Core Retail Sales (MoM) (May)
• 2030 US Retail Sales (MoM) (May)
• 2200 US Fed's Chair Powell testifies

17 Jun, Wed

• 1400 UK CPI (YoY) (May)
• 1700 Europe CPI (YoY) (May)
• 2030 US Building Permits (May)
• 2030 Canada Core CPI (MoM) (May)
• 2230 US Crude Oil Inventories 

18 Jun, Thu

• 0000 US Fed's Chair Powell testifies
• 0645 New Zealand GDP (QoQ) (Q1)
• 0930 Australia Employment Change (May)
• 1530 Switzerland SNB Interest Rate Decision
• 1530 Switzerland SNB Monetary Policy Assessment  
• 1600 Switzerland SNB Press Conference 
• 1900 UK BoE Interest Rate Decision (Jun)
• 1900 UK BoE MPC Meeting Minutes
• 2030 US Initial Jobless Claims
• 2030 US Philadelphia Fed Manufacturing Index (Jun)

19 Jun, Fri

• 0750 Japan BoJ Monetary Policy Meeting Minutes
• 1400 UK Retail Sales (MoM) (May)
• 2030 Canada Core Retail Sales (MoM) (Apr)

20 Jun, Sat

• 0100 US Fed's Chair Powell speech