US Market 03 Jul 2021

US market closed higher except Russell closed lower. 
S&P and Nasdaq closed with a new historic high.  Dow and Russell are consolidating.

BDI, Harpex, CDFI, and CCFI closed higher

The dollar index closed higher.

Watch out for

• RBA Rate Statement 
• FOMC Meeting Minutes
• China Consumer Price Index 

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

UT 

• None

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 35,495

Potential support around 33,365, 31,236, 29,407, 29,106, 28,912

S&P
Daily UT, Weekly UT

Potential resistance around 4,396

Potential support around 4,161, 3,925, 3,690, 3,579, 3,454, 3,388

Nasdaq
Daily UT, Weekly UT

Potential resistance around 14,930

Potential support around 14,207, 13,485, 12,762, 12,410, 12,040, 11,318

Russell
Daily UT, Weekly UT
Potential resistance around 2,430

Potential support around 2,300, 2,170, 2,040, 1,910, 1,779

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

05 Jul, Mon

• US holiday
• 0930 Australia Retail Sales (MoM) (May)
• 1630 UK Services PMI (Jun)
• 1630 UK Composite PMI (Jun)

06 Jul, Tue

• 1230 Australia RBA Interest Rate Decision (Jul)
• 1230 Australia RBA Rate Statement  
• 1400 Australia RBA's Governor Lowe speech
• 1630 UK Construction PMI (Jun)
• 1700 Europe Retail Sales (YoY)
• 1700 German ZEW Economic Sentiment (Jul)
• 2200 US ISM Non-Manufacturing PMI (Jun)

07 Jul, Wed

• 2200 US JOLTs Job Openings (May)
• 2200 Canada Ivey PMI (Jun)

08 Jul, Thu

• 0200 US FOMC Meeting Minutes
• 0750 Japan Current Account n.s.a.
• 1015 Australia RBA's Governor Lowe speech
• 2030 US Initial Jobless Claims
• 2300 US Crude Oil Inventories

09 Jul, Fri

• 0930 China Consumer Price Index (YoY)
• 1400 UK GDP 
• 1400 UK Manufacturing Production (MoM) (May)
• 1400 UK Monthly GDP 3M/3M Change
• 1800 Europe ECB President Lagarde Speaks
• 2030 Canada Employment Change (Jun)