US Market 08 Feb 2020

On the weekly chart, the US market broke lhf and closed higher.  Nasdaq closed at a historic high.

BDI and Harpex both closed lower.

Dollar Index rallied.

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, 29,407, 31,236, 33,365

Potential support around 28,730, 28,195, 27,350, 26,976, 26,627, 26,245, 25,784

S&P
Daily UT, Weekly UT

Potential resistance around 3,326, 3,454, 3,690

Potential support around 3,256, 3,219, 3,155, 3,072, 3,022, 2,983, 2,940, 2,874

Nasdaq
Daily UT, Weekly UT

Potential resistance around 9,873

Potential support around 9,243, 9,166, 8,954, 8,781, 8,428, 8,196, 8,002

Russell
Daily UT, Weekly UT
Potential resistance around 1,683, 1,708, 1,743, 1,779, 1910

Potential support around 1,649, 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)

10 Feb, Mon

• 0750 Japan Current Account n.s.a.
• 0930 China Consumer Price Index (YoY)
• 2230 Canada Building Permits (MoM)

11 Feb, Tue

• Japan Holiday
• 1730 UK GDP (MoM)
• 1730 UK Manufacturing Production (MoM) (Dec)
• 1730 UK Monthly GDP 3M/3M Change 
• 2200 Europe ECB President Lagarde Speaks  
• 2300 US Fed Chair Powell Testifies  
• 2300 US JOLTs Job Openings (Dec) 

12 Feb, Wed

• 0900 New Zealand RBNZ Interest Rate Decision 
• 0900 New Zealand RBNZ Rate Statement
• 1000 New Zealand RBNZ Press Conference  
• 2300 US Fed Chair Powell Testifies 
• 2330 US Crude Oil Inventories 

13 Feb, Thu

• 0310 New Zealand RBNZ Gov Orr Speaks  
• 0915 Canada BoC Gov Poloz Speaks
• 1500 German Harmonized Index of Consumer Prices (YoY)
• 2130 US Core CPI (MoM) (Jan)

14 Feb, Fri

• 1500 German GDP (QoQ) (Q4)  
• 1800 Europe Gross Domestic Product s.a.
• 2130 US Core Retail Sales (MoM) (Jan) 
• 2130 US Retail Sales (MoM) (Jan)
• 2300 US Michigan Consumer Sentiment Index