US Market 05 Nov 2022

The US market closed lower.
Dow and Russell broke pwh (previous week high) and reversed to close lower. S&P and Nasdaq broke hlf (higher low formation) on the weekly chart.

BDI, Harpex, CDFI and CCFI closed lower.

The Dollar Index is consolidating.

Watch out for

• China and US Inflation data
• US Daylight saving ends on 06 Nov at 2 AM

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

UT 

• None

Neutral 

• None

DT 

• Dow
• S&P
• Nasdaq
• 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 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, 29,106, 26,976, 24,847

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 11,318, 12,040, 12,762, 13,485

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

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

Potential support around 1,779, 1,649, 1,519, 1,389, 1,2591

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

07 Nov, Mon

• 1100 China Balance of Trade (Oct)

08 Nov, Tue

• 0801 UK BRC Retail Sales Monitor YoY (Oct)
• 1800 Europe Retail Sales YoY (Sep)

09 Nov, Wed

• 0930 China Inflation Rate YoY (Oct)
• 2330 US Crude Oil Inventories

10 Nov, Thu

• 2130 US Core CPI (MoM) (Oct)
• 2130 US CPI (MoM) (Oct)
• 2130 US Initial Jobless Claims

11 Nov, Fri

• 1500 UK GDP (QoQ) (Q3)
• 1500 UK Manufacturing Production (MoM) (Sep)
• 1500 German CPI (YoY) (Oct)
• 2000 Europe ECB Guindos Speech 
• 2300 US Michigan Consumer Sentiment (Nov)