US Market 27 Nov 2021

US market closed lower. 
Dow and Russell back to the previous consolidation range while S&P and Nasdaq closed lower with an outside day on the weekly chart.

BDI rebounded from 2,552 (18 Nov) to 2,767 (26 Nov)
Harpex closed lower from 3,754 (19 Nov) to 3,745 (26 Nov)
CDFI closed higher from 1,376.69 (19 Nov) to 1407.02 (26 Nov)
CCFI closed lower from 3,245.59 (19 Nov) to 3,199.98 (26 Nov)

The dollar index closed edge higher.

There will be no update on COT this week due to the delayed-release date due to a Federal holiday.

Watch out for

• Speech by ECB Guindos, FOMC Member Powell, BoE Gov Bailey, and US Treasury Secretary Yellen
• Manufacturing PMI data from multiple countries
• US Nonfarm Payrolls

Dow

Daily UT, Weekly UT
Potential resistance around 35,495, 37,625

Potential support around 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

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 2,300, 2,430, 2,561, 2,691

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

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

29 Nov, Mon

• 1630 Europe ECB Guindos Speech
• 2300 US Treasury Secretary Yellen Speech
• 2300 US Pending Home Sales (MoM) (Oct)

30 Nov, Tue

• 0405 US FOMC Member Powell Speaks 
• 0900 China Manufacturing PMI (Nov)
• 1500 German Unemployment Rate Harmonised (Oct)
• 1655 German Unemployment Change (Nov)
• 1800 Europe CPI (YoY) (Nov) 
• 2130 Canada GDP (MoM) (Sep)
• 2300 US CB Consumer Confidence (Nov)
• 2300 US Fed Chair Powell Testifies

01 Dec, Wed

• 0830 Australia GDP (QoQ) (Q3)
• 0945 China Caixin Manufacturing PMI (Nov)
• 1500 German Retail Sales YoY (Oct)
• 1655 German Manufacturing PMI (Nov)
• 1730 UK Manufacturing PMI (Nov)
• 2115 US ADP Nonfarm Employment Change (Nov)
• 2200 UK BoE Gov Bailey Speaks
• 2230 Canada Markit Manufacturing PMI (Nov) 
• 22450 US Markit Manufacturing PMI (Nov)
• 2300 US ISM Manufacturing PMI (Nov)
• 2300 US Treasury Secretary Yellen Speech
• 2330 US Crude Oil Inventories

02 Dec, Thu

• 0830 Australia Retail Sales (MoM)
• 2130 US Initial Jobless Claims

03 Dec, Fri

• 0945 China Caixin Services PMI (Nov)
• 1730 UK Composite PMI (Nov)
• 1730 UK Services PMI (Nov)
• 1800 Europe Unemployment Rate (Oct)
• 1800 Europe Retail Sales
• 2130 US Nonfarm Payrolls (Nov)
• 2130 US Unemployment Rate (Nov)
• 2130 Canada Employment Change (Nov)
• 2300 US ISM Non-Manufacturing PMI (Nov)