US Markets 19 Jun 21

The Federal Reserve raised its expectations for inflation and moved forward the timing of its interest rate hikes to 2023.

US market closed lower within consolidating range except for Dow closed lower and broke consolidating range

BDI closed higher 2,857 (11 Jun) to 3,218 (18 Jun)
Harpex closed higher from 1,986.58 (04 Jun) to 2,033.69 (11 Jun)
CDFI closed higher from 1,462.54 (11 Jun) to 1,576.02 (18 Jun)
CCFI close higher from  2,442.57 (11 Jun) to 2,526.65 (18 Jun)

The dollar index rallied.

Watch out for 

• Speech from ECB President Lagarde, BoJ's Governor Kuroda
• Fed Chair Powell Testifies
• UK BoE MPC Meeting Minutes 
• US GDP

No COT charts due to the federal government closed for the holiday.

Dow

Daily UT, Weekly UT
Potential resistance around 33,365, 35,495

Potential support around 31,236, 29,407, 29,106, 28,912

S&P
Daily UT, Weekly UT

Potential resistance around 4,161, 4,396

Potential support around 3,925, 3,690, 3,579, 3,454, 3,388

Nasdaq
Daily UT, Weekly UT

Potential resistance around 14,207, 14,930

Potential support around 13,485, 12,762, 12,410, 12,040, 11,318

Russell
Daily UT, Weekly UT
Potential resistance around 2,300, 2,430

Potential support around 2,170, 2,040, 1,910, 1,779

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

21 Jun, Mon

• 0930 Australia Retail Sales (MoM) (May) 
• 0930 China PBoC Loan Prime Rate
• 2030 Europe ECB President Lagarde Speaks
• 2200 Europe ECB President Lagarde Speaks

22 Jun, Tue

• 2200 US Existing Home Sales (May)

23 Jun, Wed

• 0200 US Fed Chair Powell Testifies
• 0750 Japan BoJ Monetary Policy Meeting Minutes
• 1530 German Manufacturing PMI (Jun) 
• 1600 Europe Markit PMI Composite 
• 1630 UK Composite PMI
• 1630 UK Manufacturing PMI  
• 1630 UK Services PMI  
• 2030 CAD Core Retail Sales (MoM) (Apr)
• 2200 New Home Sales (May)
• 2230 US Crude Oil Inventories

24 Jun, Thu

• 0200 Europe ECB's President Lagarde speech
• 0800 Europe European Council Meeting
• 1445 Japan BoJ's Governor Kuroda speech
• 1600 German Ifo Business Climate Index (Jun)
• 1900 UK BoE Interest Rate Decision (Jun)
• 1900 UK BoE MPC Meeting Minutes 
• 2030 US Core Durable Goods Orders (MoM) (May)
• 2030 US GDP (QoQ) (Q1)
• 2030 US Initial Jobless Claims

25 Jun, Fri

• 0430 US Bank Stress Test Info
• 0800 Europe European Council Meeting
• 2200 US Michigan Consumer Sentiment Index