Indices Performance Chart - 12 Mar 16

Most markets continue to close higher this week.  US markets, US dollar index and some major pairs had closed with an outside day on Thur after ECB cut interest rate to 0% and more QE.

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

• None

Neutral

• None

DT

• DOW (increased for 1st week)
• S&P (increased for 3rd week)
• Nasdaq (1) (increased for 1st week)
• Russell (1) (decreased for 1st week)

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  

US markets was in consolidation mode until Thur with an outside day formed.  Most short term traders stop loss will have have been triggered.  US markets had been running up for 4 weeks, is a positive sign if can close above Thur Day low.  

Expect volatility on Thur (17 Mar) morning on US interest rate, FOMC statement etc.  These may help to set a clearer direction for the markets.

Dow
Daily DT, Weekly DT
Potential resistance around TLD1, 17,271, TLD2, 17,600, 17,829, TLU4, 18,189
Potential support around 17,083, 16,745, 16,503, 16,246, TLD3, 15,851, TLU3

S&P
Daily DT, Weekly DT
Potential resistance around 2,028, 2,045, 2,061, TLU4, 2,102, 2,116
Potential support around 1,996, 1,973, TLD2, 1,930, TLU2, 1,886

Nasdaq
Daily DT, Weekly DT
Potential resistance around TLD2, 4,537, TLU1, 4,640, TLU6, 4,682
Potential support around 4,347, 4,271, 4,193, TLU2, 4,089, 3,956

Russell
Daily DT, Weekly DT
Potential resistance around 1,114, 1,137, TLU2, 1,164, 1,185, 1,213
Potential support around 1,082, TLD1, TLD3, 1,049, 1,009, TLD2, TLU4, 951