US Market 25 Jun 2022

US market broke lhf (lower high formation) and closed higher on the weekly chart, except Russell closed higher with an inside day.

BDI, CDFI, and CCFI closed lower except for Harpex remained the same.

The dollar index closed lower with an inside day on the weekly chart.

Watch out for

• Speech by ECB President Lagarde, ECB Guindos, BoE Gov Bailey and Fed Chair Powell
• Manufacturing PMI from multiple countries.

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

S&P
Daily DT, Weekly DT

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

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

Nasdaq
Daily DT, Weekly DT

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

Potential support around 12,040, 11,318, 10,856, 10,595, 9,873

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)

27 Jun, Mon

• 0800 Europe ECB Forum on Central Banking
• 2030 US Core Durable Goods Orders (MoM) (May)
• 2200 US Pending Home Sales (MoM) (May)

28 Jun, Tue

• 0800 Europe ECB Forum on Central Banking
• 1630 Europe ECB President Lagarde Speaks 
• 2030 US Goods Trade Balance (May)
• 2200 US CB Consumer Confidence (Jun)

29 Jun, Wed

• 0800 Europe ECB Forum on Central Banking
• 0930 Australia Retail Sales (MoM) (May)
• 1545 Europe ECB Guindos Speech 
• 2030 US GDP (QoQ) (Q1)
• 2100 UK BoE Gov Bailey Speaks 
• 2100 US Fed Chair Powell Speaks  
• 2100 Europe ECB President Lagarde Speaks  
• 2230 US Crude Oil Inventories

30 Jun, Thu

• 0930 China Manufacturing PMI (Jun)
• 1400 UK GDP (QoQ) (Q1)
• 1555 German Unemployment Change (Jun)
• 1700 Europe Unemployment Change (Jun)
• 2030 US Initial Jobless Claims
• 2030 Canada GDP (MoM) (Apr)
• 2130 Europe ECB President Lagarde Speech 

01 Jul, Fri

• Hong Kong and Canada holiday
• 0750 Japan Tankan Large Manufacturers Index (Q2)
• 0945 China Caixin Manufacturing PMI (Jun)
• 1555 German Manufacturing PMI (Jun)
• 1630 UK Manufacturing PMI (Jun)
• 1700 Europe CPI (YoY) (Jun)
• 2200 US ISM Manufacturing PMI (Jun)