US Market 19 Nov 2022

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

BDI, Harpex, CDFI and CCFI closed lower.

The dollar index broke pwl (previous week low) and recovered to close higher.

Watch out for

• New Zealand RBNZ Interest Rate Decision
• Manufacturing PMI data by multiple countries
• US FOMC Meeting Minutes
• Short trading week in the US

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

UT 

• Dow

Neutral 

• S&P

DT 

• None

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 UT, Weekly DT
Potential resistance around 35,495, 37,625, 39,754

Potential support around 33,365, 31,236, 29,106, 26,976

S&P
Daily Neutral, Weekly DT

Potential resistance around  4,161, 4,396, 4,632

Potential support around 3,925, 3,690, 3,454, 3,219

Nasdaq
Daily DT, Weekly DT

Potential resistance around 12,040, 12,762, 13,485

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

Russell
Daily Neutral, 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)

21 Nov, Mon

• 0930 Europe ECB President Lagarde Speaks  

22 Nov, Tue

• 1500 Australia RBA Gov Lowe Speech
• 2130 Canada Core Retail Sales (MoM) (Sep)

23 Nov, Wed

• Japan Holiday
• 0600 Australia Manufacturing PMI (Nov)
• 0900 New Zealand RBNZ Interest Rate Decision
• 1000 New Zealand RBNZ Press Conference
• 1630 German Manufacturing PMI (Nov)
• 1700 Europe Manufacturing PMI (Nov)
• 1730 UK Manufacturing PMI (Nov)
• 2100 US Building Permits
• 2130 US Core Durable Goods Orders (MoM) (Oct)
• 2130 US Initial Jobless Claims
• 2245 US Manufacturing PMI (Nov)
• 2300 US New Home Sales (Oct)
• 2300 US Michigan Consumer Sentiment (Nov)
• 2330 US Crude Oil Inventories

24 Nov, Thu

• US holiday
• 0300 US FOMC Meeting Minutes
• 1700 German Ifo Business Climate Index (Nov)

25 Nov, Fri

• US holiday (US market close early)
• 0545 New Zealand Retail Sales YoY (Q3)
• 1500 German GDP (QoQ) (Q3)