US Market 05 Mar 2022

US market broke pwh (previous week high) and reversed to close lower.

BDI, CDFI, and Harpex closed higher except for CCFI closed lower.

The dollar index rallied, tested the 98.7 resistance level and closed at 98.67.

Watch out for

• China and US Inflation Rate
• EU Leaders Summit
• ECB Interest Rate Decision

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

UT 

• None

Neutral 

• None

DT 

• Russell (1)
• Dow

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 4,396, 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 14,207, 14,930, 15,652, 16,374, 17,097, 17,819

Potential support around 13,485, 12,762, 12,410, 12,040

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)

07 Mar, Mon

• No important data

08 Mar, Tue

• 1800 Europe GDP Growth Rate
• 1800 Europe Employment Change
• 2130 US Balance of Trade (Jan)

09 Mar, Wed

• 0615 Australia RBA Gov Lowe Speech 
• 0750 Japan GDP
• 0930 China Inflation Rate YoY (Feb)
• 1000 Australia RBA Gov Lowe Speech 
• 2300 US Crude Oil Inventories
• 2300 US JOLTs Job Openings (Jan)

10 Mar, Thu

• 1800 Europe EU Leaders Summit
• 2045 Europe ECB Monetary Policy Statement
• 2045 Europe ECB Interest Rate Decision (Mar)
• 2130 Europe ECB Press Conference 
• 2130 US Initial Jobless Claims
• 2130 US Core CPI

11 Mar, Fri

• 0545 Australia RBA Gov Lowe Speech 
• 1500 UK GDP (MoM)
• 1500 UK Manufacturing Production (MoM) (Jan)
• 1800 Europe EU Leaders Summit
• 2130 Canada Employment Change (Feb)
• 2300 US Michigan Consumer Sentiment (Mar)