US Market 10 Jul 2021

US market closed at a new historic high except Russell closed lower and consolidating.

BDI, Harpex, CDFI, and CCFI closed higher

The dollar index closed lower.

Watch out for

• New Zealand, Canada and Japan Interest Rate decision and statement
• US Fed's Chair Powell testifies
• China GDP and Industrial Production
• Various countries reporting CPI data

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 35,495

Potential support around 33,365, 31,236, 29,407, 29,106, 28,912

S&P
Daily UT, Weekly UT

Potential resistance around 4,396, 4,632

Potential support around 4,161, 3,925, 3,690, 3,579, 3,454, 3,388

Nasdaq
Daily UT, Weekly UT

Potential resistance around 14,930, 15,652

Potential support around 14,207, 13,485, 12,762, 12,410, 12,040, 11,318

Russell
Daily Neutral, Weekly UT
Potential resistance around 2,430, 2,561

Potential support around 2,300, 2,170, 2,040, 1,910, 1,779

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

12 Jul, Mon

• No important data

13 Jul, Tue

• 1400 German Harmonized Index of Consumer Prices (YoY)
• 2030 US Core CPI (MoM) (Jun)

14 Jul, Wed

• 1000 New Zealand RBNZ Interest Rate Decision
• 1000 New Zealand RBNZ Rate Statement  
• 1400 UK CPI (YoY) (Jun)
• 2030 US PPI (MoM) (Jun)
• 2200 Canada BoC Monetary Policy Report 
• 2200 Canada BoC Interest Rate Decision
• 2230 US Crude Oil Inventories
• 2315 Canada BOC Press Conference 

15 Jul, Thu

• 0000 US Fed's Chair Powell testifies
• 0930 Australia Employment Change (Jun)
• 1000 China GDP (YoY) (Q2)
• 1000 China Industrial Production (YoY) (Jun)
• 1400 UK Average Earnings Index +Bonus (May)
• 1400 UK Claimant Count Change (Jun)
• 2030 US Initial Jobless Claims
• 2030 US Philadelphia Fed Manufacturing Index (Jul)
• 2130 US Fed's Chair Powell testifies

16 Jul, Fri

• 0645 New Zealand CPI (QoQ) (Q2)
• 1100 Japan BoJ Monetary Policy Statement 
• 1100 Japan BoJ Outlook Report (YoY) 
• 1400 Japan BoJ Press Conference  
• 1700 Europe CPI (YoY) (Jun)
• 2030 US Core Retail Sales (MoM) (Jun)
• 2030 US Retail Sales (MoM) (Jun)
• 2200 US Michigan Consumer Sentiment Index