US Market 05 Feb 2022

US market broke lhf (lower high formation), trimmed some of the gains, and closed higher.

BDI and Harpex closed higher while CDFI and CCFI closed for a long holiday.

The dollar index returned all the gain of last week and closed lower.

Watch out for

• Balance of Trade from multiple countries
• Speech by ECB De Guindo, BoE Gov Bailey, and Australia RBA Gov Lowe

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

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

S&P
Daily DT, Weekly UT

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

Potential support around 4,396, 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)

07 Feb, Mon

• New Zealand Holiday
• 0830 Australia Retail Sales (MoM) (Jan) 
• 0945 China Caixin Services PMI

08 Feb, Tue

• 2130 US Balance of Trade (Dec)
• 2130 Canada Balance of Trade (Dec)

09 Feb, Wed

• 1500 German Balance of Trade (Dec)
• 2330 US Crude Oil Inventories

10 Feb, Thu

• 2000 Europe ECB De Guindos Speech
• 2130 US Core CPI (MoM) (Jan)
• 2130 US Initial Jobless Claims
• 2300 US ISM Non-Manufacturing PMI (Jan)

11 Feb, Fri

• Japan Holiday
• 0415 UK BoE Gov Bailey Speaks
• 0630 Australia RBA Gov Lowe Speech
• 1500 UK GDP
• 1500 UK Goods Trade Balance (Dec)
• 2300 US Fed Monetary Policy Report
• 2300 US Michigan Consumer Sentiment (Feb)