US Market 17 Jul 2021

US market closed lower. 
DOW, S&P and Nasdaq broke pwh (previous week high) and reversed to close lower while Russell consolidating.

Harpex and CCFI continue to close higher while BDI and CDFI closed lower.

The dollar index closed higher.

Watch out for

• China and Europe Interest rate decision
• Short trading week for Japan (Thu and Fri holiday)

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, 4,632

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, 15,652

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

Russell
Daily DT, Weekly UT
Potential resistance around 2,170, 2,300, 2,430, 2,561

Potential support around 2,040, 1,910, 1,779, 1,743, 1,708

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

19 Jul, Mon

• No important data

20 Jul, Tue

• Singapore holiday
• 0930 Australia RBA Meeting Minutes  
• 0930 China PBoC Interest Rate Decision
• 1600 Europe ECB Bank Lending Survey
• 2030 US Building Permits (Jun)

21 Jul, Wed

• 0750 Japan BoJ Monetary Policy Meeting Minutes
• 0930 Australia Retail Sales s.a. (MoM)
• 2230 US Crude Oil Inventories

22 Jul, Thu

• Japan holiday
• 1945 Europe Deposit Facility Rate (Jul)
• 1945 Europe ECB Marginal Lending Facility
• 1945 Europe ECB Interest Rate Decision (Jul)
• 2030 Europe ECB Monetary Policy Statement and Press Conference
• 2030 US Initial Jobless Claims
• 2200 US Existing Home Sales (Jun)

23 Jul, Fri

• Japan holiday
• 0645 Australia RBA's Governor Lowe speech
• 1400 UK Retail Sales (MoM) (Jun)
• 1530 German Manufacturing PMI (Jul)
• 1600 Europe Markit PMI Composite
• 1630 UK Services PMI  
• 2030 Canada Core Retail Sales (MoM) (May)