US Market 21 Nov 2020

US market closed mixed.  

On the weekly chart, 

• DOW broke pwh (previous week high) and reversed to close lower.
• S&P closed lower with a -roc (close price < open price).  
• Nasdaq closed higher with a small +roc (close price > open price) inside day
• Russell broke pwh (previous week high) and closed higher.

BDI rebounded.  Harpex continues to close above 10 years high.

Dollar Index directionless.

Watch out for the short trading week in the US due the holiday and FOMC Meeting Minutes on 26 Nov 3 AM (SGT).

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

UT 

• DOW

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 UT
Potential resistance around 29,407, 31,236, 33,365

Potential support around  29,106, 28,912, 28,195, 27,345, 26,635, 25,784

S&P
Daily UT, Weekly UT

Potential resistance around 3,579, 3,690, 3,925

Potential support around 3,454, 3,388, 3,219, 3,155, 3,072, 3,022

Nasdaq
Daily UT, Weekly UT

Potential resistance around 12,040, 12,410, 12,762, 13,485

Potential support around 11,318, 10,856, 10,595, 10,206, 9,873, 9,723

Russell
Daily UT, Weekly UT
Potential resistance around 1,910

Potential support around 1,779, 1,743, 1,708, 1,683, 1,649, 1,624, 1,609

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

23 Nov, Mon

• Japan holiday
• 0545 New Zealand Retail Sales (QoQ)
• 1630 German Manufacturing PMI (Nov)
• 1700 Europe Markit PMI Composite
• 1730 UK Services PMI 

24 Nov, Tue

• 0830 Australia Trade Balance (MoM)
• 1500 German GDP (QoQ) (Q3)
• 1700 German Ifo Business Climate Index (Nov)
• 2005 Japan BoJ's Governor Kuroda speech
• 2200 Europe ECB President Lagarde Speaks  
• 2300 US CB Consumer Confidence (Nov)

25 Nov, Wed

• 1000 New Zealand RBNZ Gov Orr Speaks
• 2130 US Core Durable Goods Orders (MoM) (Oct)
• 2130 US GDP (QoQ) (Q3)
• 2130 US Initial Jobless Claims
• 2300 US New Home Sales (Oct)
• 2300 US Michigan Consumer Sentiment Index
• 2330 US Crude Oil Inventories

26 Nov, Thu

• US holiday
• 0300 US FOMC Meeting Minutes
• 1930 Europe ECB Publishes Account of Monetary Policy Meeting
• 2030 Europe ECB Monetary Policy Statement

27 Nov, Fri

• US holiday, the market closed early
• No important data