US Markets 24 Feb 18

On the weekly charts, US markets closed higher with a +roc.  DOW and S&P consolidating for 2 weeks while Nasdaq and Russell broke 2 weeks high.

Harpex broke Sep 2017 peak.

Dollar Index consolidating for the 5th week.

Tomorrow ECB President Draghi will be speaking.  Fed Chair Powell Testifies on Tue. Various countries will be releasing their Manufacturing PMI.  US GDP data on Wed while NFP on Fri.

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

• Nasdaq (1)

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 25,956, Lower Trend Channel (Blue), 25,956, 26,600, 26,976

Potential support around 24,847, 24,175, 23,567, 23,175, 22,776

S&P
Daily UT, Weekly UT

Potential resistance around 2,748, Lower Trend Channel (green), 2,874, 2,983

Potential support around 2,618,  2,593, 2,551, TLU1, 2,506

Nasdaq
Daily UT, Weekly UT
Potential resistance around  6,983, 7,022, 7,706

Potential support around TLU7, TLU6, 6,347, 6,261, 6,061, 5,952

Russell
Daily DT, Weekly UT
Potential resistance around TLU3, 1,609, 1,649

Potential support around 1,543, 1,519, 1,508, 1,494, 1,451, 1,420

Key event to watch out  (SG Time)

26 Feb, Mon

• 2200 Europe ECB President Draghi Speaks
• 2300 US New Home Sales (Jan)

27 Feb, Tue

• 2130 US Core Durable Goods Orders (MoM) (Jan)
• 2300 US CB Consumer Confidence (Feb)  
• 2300 US Fed Chair Powell Testifies

28 Feb, Wed 

• 0900 China Manufacturing PMI (Feb) 
• 1700 German Unemployment Change (Feb) 
• 1800 Europe CPI (YoY) (Feb) 
• 2130 US GDP (QoQ) (Q4)
• 2300 Canada Pending Home Sales (MoM) (Jan)
• 2330 US Crude Oil Inventories

01 Mar, Thu

• 0945 China Caixin Manufacturing PMI (Feb)
• 1655 German Manufacturing PMI (Feb) 
• 1730 UK Manufacturing PMI (Feb)
• 2300 US ISM Manufacturing PMI (Feb) 

02 Mar, Fri

• 1730 UK Construction PMI (Feb)
• 2130 US Nonfarm Payrolls (Feb)
• 2130 US Unemployment Rate (Feb) 
• 2130 Canada GDP (MoM) (Dec)