US Markets 09 Dec 17

US markets (except Nasdaq) created a new historic high but failed to hold and closed with a -roc on the weekly chart.  Nasdaq broke pwl, recovered but still closed with a -roc.

Dollar Index broke lhf on the weekly chart and closed higher.

BDI surged higher again.

14 Dec will be a busy day starting at 0300 US Interest rate decision, SNB (Swiss National Bank) Interest rate decision in the afternoon while ECB Interest Rate Decision in the evening.  Expecting volatile week before most fund close for the year.

I will be taking a short break from this holiday season.  If COT is available, I will post the charts.  Next update will be either on the 7 or 14 Jan 2018 depending on when will the COT data is released.

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

• Nasdaq

Neutral 

• None

DT 

• None

Instruments that show selling interest at extreme (2) by Dealer/Intermediary (sell-side participants)
UT 

• Russell

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 24,520, 24,847

Potential support around 24,157, 23,567, 23,435, 23,175, 22,777, 22,717, TLU11, 22,409

S&P
Daily UT, Weekly UT

Potential resistance around 2,748

Potential support around 2,650, 2,593, TLU1, 2,576, 2,552, 2,512, 2,506, 2,480

Nasdaq
Daily UT, Weekly UT
Potential resistance around 6,347, 6,421,  6,983

Potential support around 6,261, 6,118, TLU6, 6,061, 5,952, TLU3, 5,890

Russell
Daily UT, Weekly UT
Potential resistance around 1,543, 1,649
Potential support around 1,519, 1,508, TLU1, 1,497, 1,451, TLU2, 1,420, 1,401, 1,389

Key event to watch out  (SG Time)

11 Dec, Mon

• 2300 USD US JOLTs Job Openings (Nov) 

12 Dec, Tue

• 1730 GBP UK CPI (YoY) (Nov)
• 1800 EUR German ZEW Economic Sentiment (Dec) 
• 2130 USD US PPI (MoM) (Nov)

13 Dec, Wed 

• 0300 EUR ECB President Draghi Speaks (Oct) 
• 1730 GBP UK Average Earnings Index +Bonus (Oct) 
• 1730 GBP UK Claimant Count Change (Nov) 
• 2130 USD US Core CPI (MoM) (Nov) 
• 2330 USD US Crude Oil Inventories 

14 Dec, Thu

• 0300 USD FOMC Economic Projections     
• 0300 USD FOMC Statement
• 0300 USD Fed Interest Rate Decision  
• 0300 USD FOMC Press Conference 
• 0830 AUD Australia Employment Change (Nov)       
• 1000 CNY China Industrial Production (YoY) (Nov)
• 1630 CHF SNB (Swiss National Bank) Interest Rate Decision    
• 1630 CHF SNB Monetary Policy Assessment   
• 1630 EUR German Manufacturing PMI (Dec) 
• 1700 CHF SNB Press Conference      
• 1730 GBP UK Retail Sales (MoM) (Nov) 
• 2000 GBP BoE Interest Rate Decision (Dec) 
• 2000 GBP BoE MPC Meeting Minutes     
• 2045 EUR Europe Deposit Facility Rate 
• 2045 EUR ECB Interest Rate Decision (Dec) 
• 2130 USD US Core Retail Sales (MoM) (Nov)
• 2130 USD US Retail Sales (MoM) (Nov) 
• 2130 EUR ECB Press Conference 

15  Dec, Fri

• 0125 CAD BoC Gov Poloz Speaks
• 0750 JPY Japan Tankan Large Manufacturers Index (Q4)
• 0750 JPY Japan Tankan Large Non-Manufacturers Index (Q4)