US Market 23 Oct 2021

US market closed higher.  Dow and S&P closed at a historic high.  Russell consolidating.

Harpex and CCFI closed higher while BDI and CDFI closed lower.

The dollar index closed below 94.0 resistance.

Watch out for

• Interest rate decisions by Canada, Japan, and Europe
• CPI, GDP, and Retail Sales data from multiple countries.

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

UT 

• Russell

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 37,625

Potential support around 35,495, 33,365, 31,236, 29,407, 29,106

S&P
Daily UT, Weekly UT

Potential resistance around 4,632, 4,867

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, 16,374

Potential support around 14,930, 14,207, 13,485, 12,762, 12,410

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

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

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

25 Oct, Mon

• New Zealand holiday
• 1600 German Ifo Business Climate Index (Oct)

26 Oct, Tue

• 2200 US CB Consumer Confidence (Oct)
• 2200 US New Home Sales (Sep)

27 Oct, Wed

• 0830 Australia CPI (QoQ) (Q3)
• 1400 German GfK Consumer Confidence (Nov)
• 2030 US Core Durable Goods Orders (MoM) (Sep)
• 2030 US Goods Trade Balance
• 2200 Canada BoC Monetary Policy Report
• 2200 Canada BoC Interest Rate Decision
• 2230 US Crude Oil Inventories
• 2300 Canada BOC Press Conference

28 Oct, Thu

• 1100 Japan BoJ Interest Rate Decision
• 1100 Japan BoJ Outlook Report (YoY)
• 1555 German Unemployment Change (Oct)
• 1945 Europe German Unemployment Change (Oct)
• 1945 Europe ECB Interest Rate Decision (Oct)
• 2030 US GDP (QoQ) (Q3) 
• 2030 US Initial Jobless Claims
• 2030 Europe ECB Press Conference 
• 2200 US ECB Press Conference

29 Oct, Fri

• 0830 Australia Retail Sales (MoM) (Sep)
• 1300 Japan Consumer Confidence (Oct)
• 1600 German GDP (QoQ) (Q3)
• 1700 Europe CPI (YoY) (Oct) 
• 2030 Canada GDP (MoM) (Aug) 
• 2200 US Michigan 5 Year Inflation Expectations (Oct)