US Market 12 Feb 2022

US market closed lower except for Russell closed higher. S&P and Nasdaq broke hlf (higher low formation) on the weekly chart while Dow and Russell trimmed some gains before closing.

Dow weekly MA improved from DT (Down Trend) to Neutral, while Russell weekly MA deteriorated from Neutral to DT.

BDI, Harpex, CDFI and, CCFI closed higher.

The dollar index closed higher but directionless.

Watch out for

• CPI data from multiple countries
• Australia RBA Meeting Minutes
• US FOMC Meeting Minutes

Instruments that show buying interest (3) from Dealer/Intermediary (sell-side participants)

UT 

• None

Neutral 

• Dow

DT 

• Russell

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 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 DT
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)

14 Feb, Mon

• No important data

15 Feb, Tue

• 0750 Japan GDP
• 0830 Australia RBA Meeting Minutes
• 1500 UK Claimant Count Change (Jan)
• 1800 German ZEW Economic Sentiment (Feb)
• 1800 Europe Employment Change
• 2130 US PPI (MoM) (Jan)

16 Feb, Wed

• 0930 China CPI YoY (Jan)
• 1500 UK CPI (YoY) (Jan)
• 2130 US Core Retail Sales (MoM) (Jan)
• 2130 US Retail Sales (MoM) (Jan)
• 2130 Canada Core CPI (MoM) (Jan)
• 2330 US Crude Oil Inventories

17 Feb, Thu

• 0300 US FOMC Meeting Minutes 
• 0750 Japan Balance of Trade (Jan)
• 0830 Australia Employment Change (Jan)
• 2130 US Building Permits (Jan)
• 2130 US Philadelphia Fed Manufacturing Index (Feb)
• 2130 US Initial Jobless Claims

18 Feb, Fri

• 0730 Japan CPI YoY (Jan)
• 1500 UK Retail Sales (MoM) (Jan)
• 2130 Canada Core Retail Sales (MoM) (Dec)
• 2130 Canada ADP Employment Change (Jan)
• 2130 US Existing Home Sales (Jan)