US Market 09 Jan 2021

On the weekly chart, US market closed with an outside day at a new historic high.

All shipping indices (BDI, Harpex, CDFI and CCFI)  closed higher.

Dollar Index directionless.

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

UT 

• DOW

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 31,236, 33,365

Potential support around  29,407, 29,106, 28,912, 28,195, 27,345, 26,635

S&P
Daily UT, Weekly UT

Potential resistance around 3,925, 4,161

Potential support around 3,690, 3,579, 3,454, 3,388, 3,219, 3,155, 3,07

Nasdaq
Daily UT, Weekly UT

Potential resistance around 13,485, 14,207

Potential support around 12,762, 12,410, 12,040, 11,318, 10,856, 10,595

Russell
Daily UT, Weekly UT
Potential resistance around 2,170, 2,300

Potential support around  2,040, 1,910, 1,779, 1,743, 1,708, 1,683, 1,649

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

11 Jan, Mon

• Japan holiday
• 0830 Australia Retail Sales (MoM) (Nov)
• 0930 China Consumer Price Index (YoY)
• 2300 UK BoE's Governor Bailey speech

12 Jan, Tue

• 0750 Japan Current Account n.s.a.
• 2000 US EIA Short-Term Energy Outlook
• 2300 US JOLTs Job Openings (Nov)

13 Jan, Wed

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

14 Jan, Thu

• 1500 German GDP (QoQ)
• 2030 Europe ECB Monetary Policy Statement
• 2130 US Initial Jobless Claims

15 Jan, Fri

• 0130 US Fed Chair Powell Speaks
• 1500 UK GDP
• 2130 US Core Retail Sales (MoM) (Dec)
• 2130 US PPI (MoM) (Dec)
• 2130 US Retail Sales (MoM) (Dec)
• 2300 US Michigan Consumer Sentiment Index