US Market 18 Dec 2021

US market closed lower.
Dow and S&P broke pwh (previous week high) and reversed to close lower.  The third week that Nasdaq is consolidating.  Russell broke hif (higher low formation) on the weekly chart and recovered some losses closing at the consolidating support range.

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

The dollar index is consolidating.

Watch out for

• China loan prime rate
• Australia RBA Meeting Minutes, Japan BoJ Monetary Policy Statement
• Retail Sales and GDP data from multiple countries.

I will be taking a break, and this update will be the last for the Year 2021. 
The next update will resume on 08 Jan 2022.

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 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 DT, 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)

20 Dec, Mon

• 0830 Australia Mid-Year Economic and Fiscal Outlook
• 0930 China PBoC Loan Prime Rate

21 Dec, Tue

• 0830 Australia RBA Meeting Minutes 
• 1500 German GfK Consumer Confidence
• 1730 UK Retail Sales (MoM) (Nov)
• 2130 Canada Core Retail Sales (MoM) (Oct)

22 Dec, Wed

• 0750 Japan BoJ Monetary Policy Statement
• 1500 UK GDP (Q3)
• 2130 US GDP (QoQ) (Q3)
• 2300 US CB Consumer Confidence (Dec)
• 2300 US Existing Home Sales (Nov)
• 2330 US Crude Oil Inventories

23 Dec, Thu

• 0801 UK GfK Consumer Confidence
• 2130 US Core Durable Goods Orders (MoM) (Nov)
• 2130 US Initial Jobless Claims
• 2130 Canada GDP (MoM) (Oct)
• 2300 US New Home Sales (Nov)
• 2300 US Michigan Consumer Sentiment (Dec)

24 Dec, Fri

• Some markets will close for the day, while some close early.
• 0730 Japan Inflation Rate YoY (Nov)