US Market 16 Jan 2021

On the weekly chart, US market closed lower with a -roc (close price < open price) except for Russell closed with a new historic high.

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

Dollar Index consolidating.

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)

18 Jan, Mon

• US holiday
• 1000 China GDP (YoY) (Q4)
• 1000 China Industrial Production (YoY) (Dec)
• 1000 China Retail Sales (YoY)

19 Jan, Tue

• 1500 Europe Harmonized Index of Consumer Prices (YoY)
• 1700 Europe ECB Bank Lending Survey
• 1800 German ZEW Economic Sentiment (Jan)

20 Jan, Wed

• 0930 China PBoC Loan Prime Rate
• 1500 UK CPI (YoY) (Dec)
• 1800 Europe CPI (YoY) (Dec)
• 2130 Canada Core CPI (MoM) (Dec)
• 2300 Canada BoC Monetary Policy Report 
• 2300 Canada BoC Interest Rate Decision
• 2330 US Crude Oil Inventories

21 Jan, Thu

• U.S. President Biden Speaks  
• 0015 Canada BoC Press Conference
• 0830 Australia Employment Change (Dec)
• 1100 Japan BoJ Monetary Policy Statement 
• 1100 Japan BoJ Outlook Report (YoY) 
• 1400 Japan BoJ Press Conference  
• 2045 Europe ECB Interest Rate Decision (Jan)
• 2130 US Building Permits (Dec)
• 2130 US Initial Jobless Claims
• 2130 Europe ECB Press Conference  

22 Jan, Fri

• 0545 New Zealand CPI (QoQ) (Q4)
• 0830 Australia Retail Sales (MoM)
• 1500 UK Retail Sales (MoM) (Dec)
• 1630 German Manufacturing PMI (Jan)  
• 1700 Europe Markit PMI Composite
• 1730 UK Manufacturing PMI (Jan) 
• 1730 UK Services PMI (Jan)  
• 2130 Canada Core Retail Sales (MoM) (Nov)
• 2300 US Existing Home Sales (Dec)