US Market 11 Jun 2022

US market broke hlf (higher low formation) on the weekly chart and slumped.

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

The dollar index rallied.

Watch out for

• Interest rate decisions from multiple countries
• Speech by Fed Chair Powell 

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

UT 

• None

Neutral 

• None

DT 

• Dow (1)
• S&P
• Russell (1)

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 are based on 50 Simple Moving Average.

Dow

Daily DT, Weekly DT
Potential resistance around 33,365, 35,495, 37,625

Potential support around 31,236, 29,407, 29,106, 28,912, 26,976

S&P
Daily DT, Weekly DT

Potential resistance around 3,925, 4,161, 4,396, 4,632, 4,867

Potential support around 3,690, 3,579, 3,454, 3,219, 2,983

Nasdaq
Daily DT, Weekly DT

Potential resistance around 12,040, 12,410, 12,762, 13,485, 14,207, 14,930

Potential support around  11,318, 10,595, 9,873, 9,150

Russell
Daily DT, Weekly DT
Potential resistance around 1,910, 2,040, 2,170, 2,300, 2,430

Potential support around 1,779, 1,743, 1,708, 1,649, 1,624, 1,609

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

13 Jun, Mon

• Australia Holiday
• 1400 UK GDP

14 Jun, Tue

• 1400 UK Claimant Count Change (May)
• 1400 UK Unemployment Rate (May)
• 1700 German ZEW Economic Sentiment (Jun)
• 2030 US PPI (MoM) (May)

15 Jun, Wed

• 1000 China Industrial Production (YoY) (May)
• 1000 China Unemployment Rate (May)
• 1000 China Retail Sales YoY (May)
• 2030 US Core Retail Sales (MoM) (May)
• 2030 US Retail Sales (MoM) (May)
• 2230 US Crude Oil Inventories

16 Jun, Thu

• 0200 US FOMC Economic Projections
• 0200 US FOMC Statement  
• 0200 US Fed Interest Rate Decision
• 0230 US Fed Press Conference
• 0645 New Zealand GDP (QoQ) (Q1)
• 0930 Australia Employment Change (May)
• 1530 Switzerland SNB Interest Rate Decision (Q2)
• 1530 Switzerland SNB Monetary Policy Assessment  
• 1630 Switzerland SNB Press Conference  
• 1900 UK BoE Interest Rate Decision (Jun)
• 2030 US Building Permits (May)
• 2030 US Initial Jobless Claims
• 2030 US Philadelphia Fed Manufacturing Index (Jun)

17 Jun, Fri

• 1100 Japan BoJ Monetary Policy Statement  
• 1700 Europe CPI (YoY) (May)
• 2045 US Fed Chair Powell Speaks