US Market 07 Dec 19

On the weekly chart, the US market broke hlf and recovered the losses to close with a small roc.  Dow and Nasdaq closed with a small -roc while S&P closed with a small +roc.  Russell closed with a +roc outside day

Dollar Index closed lower.

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 29,106, 31,236, 33,365

Potential support around 27,350, 26,976, 26,627, 26,245, 25,784, 25,645

S&P
Daily UT, Weekly UT

Potential resistance around 3,219, 3,454, 3,690

Potential support around 3,072, 3,022, 2,983, 2,940, 2,874, 2,854, 2,825, 2,814

Nasdaq
Daily UT, Weekly UT

Potential resistance around 8,428, 9,150, 9,873

Potential support around 8,196, 8,002, 7,859, 7,706, 7,516, 7,282, 7,134

Russell
Daily UT, Weekly UT
Potential resistance around 1,649 1,779, 1910

Potential support around 1,624, 1,609, 1,585,  1,543, 1,519, 1,508, 1,451, 1,420

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

09 Dec, Mon

• 0750 Japan GDP (QoQ) (Q3)
• 2130 Canada Building Permits (MoM)

10 Dec, Tue

• 0605 Australia RBA's Governor Lowe speech
• 0830 Australia Mid-Year Economic and Fiscal Outlook  
• 0930 China Consumer Price Index (YoY)
• 1730 UK GDP
• 1730 UK Manufacturing Production (MoM) (Oct)
• 1800 German ZEW Economic Sentiment (Dec)

11 Dec, Wed

• 2130 US Core CPI (MoM) (Nov)
• 2330 US Crude Oil Inventories 

12 Dec, Thu

• 0300 US FOMC Economic Projections 
• 0300 US FOMC Statement  
• 0300 US Fed Interest Rate Decision 
• 0330 US FOMC Press Conference  
• 0800 U.K. General Election
• 1500 German Harmonized Index of Consumer Prices (YoY) 
• 1630 Switzerland SNB Interest Rate Decision 
• 1630 Switzerland SNB Monetary Policy Assessment  
• 1700 Switzerland SNB Press Conference  
• 2045 Europe Deposit Facility Rate (Dec) 
• 2045 Europe ECB Marginal Lending Facility 
• 2045 Europe ECB Monetary Policy Statement  
• 2045 Europe ECB Interest Rate Decision (Dec)
• 2130 US PPI (MoM) (Nov)
• 2130 Europe ECB Press Conference  

13 Dec, Fri

• 0130 Canada BoC Gov Poloz Speaks  
• 0750 Japan Tankan Large Manufacturers Index (Q4)
• 0750 Japan Tankan Large Non-Manufacturers Index (Q4)
• 2130 US Core Retail Sales (MoM) (Nov) 
• 2130 US Retail Sales (MoM) (Nov)