US Market 06 Nov 2021

US market closed at a historic high.  Russell broke out from consolidation.

CCFI closed higher while the rest, BDI Harpex, and CDFI closed lower.

The dollar index closed higher.

Watch out for

• Speeches by Fed Chair Powell
• ECB Forecast

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 37,625

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

S&P
Daily UT, Weekly UT

Potential resistance around 4,867

Potential support around 4,632, 4,396, 4,161, 3,925, 3,690, 3,579

Nasdaq
Daily UT, Weekly UT

Potential resistance around 16,374, 17,097, 17,819

Potential support around 15,652, 14,930, 14,207, 13,485, 12,762, 12,410

Russell
Daily UT, Weekly UT
Potential resistance around 2,561, 2,691

Potential support around 2,430, 2,300, 2,170, 2,040, 1,910

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

08 Nov, Mon

• 2330 US Fed Chair Powell Speech 

09 Nov, Tue

• 1500 German Balance of Trade
• 1800 German ZEW Economic Sentiment (Nov)
• 2130 US PPI (MoM) (Oct)
• 2200 US Fed Chair Powell Speech 

10 Nov, Wed

• 0930 China Inflation Rate YoY
• 2130 US Core CPI (MoM) (Oct)
• 2130 US Initial Jobless Claims
• 2230 US Crude Oil Inventories

11 Nov, Thu

• 0830 Australia Employment Change (Oct)
• 1500 UK GDP (Q3)  
• 1500 UK Manufacturing Production (MoM) (Sep)
• 1800 Europe ECB Forecast

12 Nov, Fri

• 2300 US JOLTs Job Openings (Sep)
• 2300 US Michigan Consumer Sentiment