US Market 03 Dec 2022

The US market closed higher. Nasdaq and Russell are consolidating.

No change in BDI, while Harpex, CDFI and CCFI closed lower.

The Dollar Index broke consolidation support.

Watch out for

• Australia and Canada Interest Rate Decision
• China Inflation Rate

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 are based on 50 Simple Moving Average.

Dow

Daily UT, Weekly DT
Potential resistance around 35,495, 37,625, 39,754

Potential support around 33,365, 31,236, 29,106, 26,976

S&P
Daily UT, Weekly DT

Potential resistance around  4,161, 4,396, 4,632

Potential support around 3,925, 3,690, 3,454, 3,219

Nasdaq
Daily Neutral, Weekly DT

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

Potential support around 11,318, 10,595, 9,873, 9,150

Russell
Daily UT, Weekly DT
Potential resistance around 1,910, 2,040, 2,170, 2,300

Potential support around 1,779, 1,649, 1,519, 1,389, 1,2591

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

05 Dec, Mon

• 0600 Australia S&P Global Services PMI (Nov)
• 0945 China Caixin Services PMI (Nov)
• 0945 Europe ECB President Lagarde Speaks
• 1655 German S&P Global Services PMI (Nov)
• 1700 Europe S&P Global Services PMI (Nov)
• 1730 UK S&P Global/CIPS UK Services PMI (Nov)
• 1800 Europe Retail Sales MoM (Oct)
• 2245 US S&P Global Services PMI (Nov)
• 2300 US ISM Non-Manufacturing PMI (Nov)

06 Dec, Tue

• 1130 Australia RBA Interest Rate Decision (Dec)
• 1130 Australia RBA Rate Statement
• 2130 Canada Balance of Trade (Oct)
• 2130 US Balance of Trade (Oct)
• 2300 Canada Ivey PMI s.a (Nov)

07 Dec, Wed

• 0830 Australia GDP (QoQ) (Q3)
• 1100 China Balance of Trade (Nov)
• 2300 Canada BoC Interest Rate Decision
• 2330 US Crude Oil Inventories

08 Dec, Thu

• 0750 Japan GDP (QoQ) (Q3)
• 0830 Australia Balance of Trade (Oct)
• 2000 Europe ECB President Lagarde Speaks  
• 2130 US Initial Jobless Claims

09 Dec, Fri

• 0930 China Inflation Rate YoY (Nov)
• 2130 US PPI (MoM) (Nov)
• 2300 US Michigan Consumer Sentiment (Dec)