US Market 11 Dec 2021

US market closed higher.
Dow broke pwh (previous week high), S&P broke lhf (lower high formation), Nasdaq broke pwl (previous week low) and recovered while Russell broke pwh and retreated to trim gain.

Harpex, BDI, CDFI, and CCFI closed higher.

The dollar index is directionless.

Watch out for

• Interest rate decisions by multiple countries (US, Switzerland, UK, Europe, Japan)
• Manufacturing PMI and Retail sales data by multiple countries.

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 

• Nasdaq

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 Neutral, 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 Neutral, Weekly UT
Potential resistance around 2,300, 2,430, 2,561, 2,691

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)

13 Dec, Mon

• 0750 Japan Tankan Large Manufacturers Index (Q4)
• 0750 Japan Tankan Large Non-Manufacturers Index (Q4)

14 Dec, Tue

• 1500 UK Average Earnings Index +Bonus (Oct)
• 1500 UK Claimant Count Change (Nov)
• 2130 US PPI (MoM) (Nov)

15 Dec, Wed

• 1000 China Industrial Production (YoY) (Nov)
• 1000 China Retail Sales YoY (Nov)
• 1500 UK CPI (YoY) (Nov)
• 2130 US Core Retail Sales (MoM) (Nov)
• 2130 Canada Core CPI (MoM) (Nov)
• 2330 US Crude Oil Inventories

16 Dec, Thu

• 0300 US FOMC Economic Projections
• 0300 US FOMC Statement  
• 0300 US Fed Interest Rate Decision
• 0330 US FOMC Press Conference 
• 0545 New Zealand GDP (QoQ) (Q3)
• 0730 Australia RBA Gov Lowe Speech 
• 0750 Japan Balance of Trade
• 0830 Australia Unemployment Rate (Nov)
• 1630 Switzerland SNB Interest Rate Decision (Q4)
• 1630 Switzerland SNB Monetary Policy Assessment  
• 1630 German Manufacturing PMI (Dec)  
• 1700 Europe Composite PMI
• 1700 Europe Manufacturing PMI  
• 1700 Europe Services PMI  
• 1730 UK Composite PMI
• 1730 UK Manufacturing PMI  
• 1730 UK Services PMI  
• 1730 Switzerland SNB Press Conference  
• 2000 UK BoE Interest Rate Decision (Dec)
• 2000 UK BoE MPC Meeting Minutes  
• 2045 Europe Deposit Facility Rate (Dec)
• 2045 Europe ECB Interest Rate Decision (Dec)
• 2130 Canada ADP Employment Change
• 2130 US Building Permits (Nov)
• 2130 US Initial Jobless Claims
• 2130 US Philadelphia Fed Manufacturing Index (Dec)
• 2130 Europe ECB Press Conference 
• 2245 US Manufacturing PMI 

17 Dec, Fri

• 1030 Japan BoJ Monetary Policy Statement  
• 1030 Japan BoJ Press Conference
• 1100 Japan BoJ Interest Rate Decision  
• 1500 UK Retail Sales (MoM) (Nov)
• 1700 German Ifo Business Climate Index (Dec)
• 1800 Europe CPI (YoY) (Nov)