US Market 22 Jan 2022

US market closed lower.
Dow and S&P 50 SMA started to turn down on the daily chart.
Dow was consolidating while Russell broke down from the consolidating support level.

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

The dollar index closed higher with an inside day on the weekly chart.

Watch out for

• Manufacturing PMI from multiple countries
• Interest rate decisions from US and Canada

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

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

S&P
Daily Neutral, Weekly UT

Potential resistance around 4,396, 4,632, 4,867, 5,103

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

Nasdaq
Daily DT, Weekly UT

Potential resistance around 14,930, 15,652, 16,374, 17,097, 17,819

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

Russell
Daily DT, Weekly Neutral
Potential resistance around 2,040, 2,170, 2,300, 2,430, 2,561, 2,691

Potential support around 1,910, 1,779, 1,743, 1,708

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

24 Jan, Mon

• 1630 German Manufacturing PMI (Jan)
• 1700 Europe Markit Manufacturing PMI  
• 1700 UK Manufacturing PMI 
• 2245 US Manufacturing PMI 

25 Jan, Tue

• 0830 Australia CPI (QoQ) (Q4)
• 1700 German Ifo Business Climate Index (Jan)
• 2300 US CB Consumer Confidence (Jan)

26 Jan, Wed

• Australia Holiday
• 2130 US Goods Trade Balance (Dec) 
• 2300 US New Home Sales (Dec)
• 2300 Canada BoC Monetary Policy Report   
• 2300 Canada BOC Press Conference  
• 2300 Canada BoC Interest Rate Decision

27 Jan, Thu

• 0000 US Crude Oil Inventories
• 0300 US FOMC Statement  
• 0300 US Fed Interest Rate Decision
• 0330 US FOMC Press Conference  
• 0545 New Zealand CPI (QoQ) (Q4)
• 1500 German GfK Consumer Confidence (Feb)
• 2130 US Core Durable Goods Orders (MoM) (Dec)
• 2130 US GDP (QoQ) (Q4)  
• 2130 US Initial Jobless Claims
• 2300 US Pending Home Sales (Dec)

28 Jan, Fri

• 1700 German GDP (QoQ) (Q4)
• 2300 US Michigan Consumer Sentiment (Jan)