US Market 21 Jan 2023

The US market closed lower, except Nasdaq closed higher. Dow broke hlf (higher low formation).

BDI, Harpex, CCFI, and CDFI closed lower.

The dollar index closed lower.

Watch out for

• China and Hong Kong long holiday
• Manufacturing PMI and CPI data by multiple countries
• Interest rate decision by Canada

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

UT 

• None

Neutral 

• None

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, 24,847

S&P
Daily UT, Weekly DT

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

Potential support around 3,925, 3,690, 3,454, 3,219, 2,983

Nasdaq
Daily UT, Weekly DT

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

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

Russell
Daily UT, 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)

23 Jan, Mon

• Hong Kong and China holiday

24 Jan, Tue

• Hong Kong and China holiday
• 0145 Europe ECB President Lagarde Speaks
• 1630 German Manufacturing PMI (Jan)  
• 1700 Europe Manufacturing PMI (Jan)  
• 1730 UK Composite PMI  
• 1730 UK Manufacturing PMI
• 1730 UK Services PMI
• 1745 Europe ECB President Lagarde Speaks
• 2245 US Manufacturing PMI (Jan)  

25 Jan, Wed

• Hong Kong and China holiday
• 0545 New Zealand CPI (QoQ) (Q4)
• 0830 Australia CPI (QoQ) (Q4)
• 1700 German Ifo Business Climate Index (Jan)
• 2300 Canada BoC Monetary Policy Report 
• 2300 Canada BoC Interest Rate Decision
• 2330 US Crude Oil Inventories

26 Jan, Thu

• China Holiday
• 2130 US Core Durable Goods Orders (MoM) (Dec)
• 2130 US GDP (QoQ) (Q4)  
• 2130 US Initial Jobless Claims
• 2130 US New Home Sales (Dec)

27 Jan, Fri

• China Holiday
• 1830 Europe ECB President Lagarde Speaks  
• 2130 US Core PCE Price Index (MoM) (Dec)
• 2300 US Pending Home Sales (MoM) (Dec)
• 2300 US Michigan Consumer Sentiment (Jan)