US Market 18 Jun 2022

US market continues to slump, break and close below the previous year's low.

BDI, CDFI, CCFI, and Harpex closed higher.

The dollar index closed higher with a long-legged doji on the weekly chart.

Watch out for

• Manufacturing PMI from multiple countries
• US Fed Chair Powell Testifies

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 31,236, 33,365, 35,495, 37,625

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

S&P
Daily DT, Weekly DT

Potential resistance around 3,690, 3,925, 4,161, 4,396

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

Nasdaq
Daily DT, Weekly DT

Potential resistance around 11,318, 12,040, 12,410, 12,762, 13,485

Potential support around 10,595, 9,873, 9,150, 8,428

Russell
Daily DT, Weekly DT
Potential resistance around 1,779, 1,910, 2,040

Potential support around 1,649, 1,519, 1,389

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

20 Jun, Mon

• US Holiday
• 0915 China PBoC Loan Prime Rate

21 Jun, Tue

• 0930 Australia RBA Meeting Minutes  
• 2030 Canada Core Retail Sales (MoM) (Apr)
• 2200 US Existing Home Sales (May)

22 Jun, Wed

• 1400 UK CPI (YoY) (May)
• 2030 Canada CPI (YoY) (May)
• 2130 US Fed Chair Powell Testifies

23 Jun, Thu

• 0700 Australia Manufacturing PMI (Jun) 
• 1530 German Manufacturing PMI (Jun)
• 1600 Europe Manufacturing PMI (Jun)
• 1630 UK Manufacturing PMI (Jun)
• 2030 US Initial Jobless Claims
• 2200 US Fed Chair Powell Testifies
• 2300 US Crude Oil Inventories

24 Jun, Fri

• New Zealand holiday
• 0730 Japan Inflation Rate YoY (May)
• 1400 UK Retail Sales (MoM) (May)
• 1600 German Ifo Business Climate Index (Jun)
• 2200 US New Home Sales (May)
• 2200 US Michigan Consumer Sentiment (Jun)