US Market 24 Jul 2021

US market closed higher.  Dow, S&P and Nasdaq closed at a historic high with an outside day on the weekly chart.  Russell broke pwl (previous week low), recovered and closed higher; still consolidating.

Harpex, BDI, CDFI, and CCFI closed higher.

The dollar index closed higher.

Watch out for

• Speech by Japan BoJ's Governor Kuroda
• CPI and GDP data from various countries
• US Interest rate decision, FOMC statement and Press conference
• China Manufacturing and Non-Manufacturing PMI

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

UT 

• None

Neutral 

• Russell

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 4,632

Potential support around 4,396, 4,161, 3,925, 3,690, 3,579, 3,454

Nasdaq
Daily UT, Weekly UT

Potential resistance around 15,652

Potential support around 114,930, 4,207, 13,485, 12,762, 12,410, 12,040

Russell
Daily Neutral, Weekly UT
Potential resistance around 2,300, 2,430, 2,561

Potential support around 2,170, 2,040, 1,910, 1,779, 1,743, 1,708

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

26 Jul, Mon

• 1600 German Ifo Business Climate Index (Jul)
• 2200 New Home Sales (Jun)

27 Jul, Tue

• 1530 Japan BoJ's Governor Kuroda speech
• 2030 US Core Durable Goods Orders (MoM) (Jun)
• 2200 US CB Consumer Confidence (Jul)

28 Jul, Wed

• 0930 Australia CPI (QoQ) (Q2)
• 2030 Canada Core CPI (MoM) (Jun)
• 2030 US Goods Trade Balance
• 2230 US Crude Oil Inventories

29 Jul, Thu

• 0200 US FOMC Statement
• 0200 US Fed Interest Rate Decision
• 0230 US FOMC Press Conference  
• 1555 German Unemployment Change (Jul)
• 2000 German Harmonized Index of Consumer Prices (YoY)
• 2030 US GDP (QoQ) (Q2)
• 2030 US Initial Jobless Claims
• 2200 US Pending Home Sales (Jun)

30 Jul, Fri

• 0930 Australia Producer Price Index
• 1400 German GDP (QoQ) (Q2)
• 1700 Europe CPI (YoY) (Jul)
• 1700 Europe Gross Domestic Product s.a. (QoQ)
• 2030 Canada GDP (MoM) (May)
• 2200 US Michigan Consumer Sentiment Index

31 Jul, Sat

• 0900 China Manufacturing PMI (Jul)
• 0900 China Non-Manufacturing PMI