US Market 28 Jan 2023

The US market closed higher. While Dow closed with an inside day on the weekly chart. S&P, Nasdaq, and Russell tested the recent resistance range.

BDI and Harpex closed lower, while CCFI and CDFI remained the same because China closed for a long holiday.

The dollar index closed lower.

Watch out for

• Manufacturing PMI data by multiple countries
• Interest rate decisions by US, UK and Europe
• US NFP

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 Neutral, 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 Neutral, Weekly DT

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

Potential support around 12,040, 11,318, 10,595, 9,873, 9,150

Russell
Daily UT, Weekly DT
Potential resistance around 2,040, 2,170, 2,300, 2,430

Potential support around 1,910, 1,779, 1,649, 1,519, 1,389

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

30 Jan, Mon

• 1700 German GDP (QoQ) (Q4)

31 Jan, Tue

• 0830 Australia Retail Sales (MoM) (Dec)
• 0930 China Manufacturing PMI (Jan)
• 1500 German Retail Sales YoY (Dec)
• 1655 German Unemployment Change (Jan)
• 2100 German CPI (YoY) (Jan)
• 2130 Canada GDP (MoM) (Nov)
• 2300 US CB Consumer Confidence (Jan)

01 Feb, Wed

• 0545 New Zealand Employment Change (QoQ) (Q4)
• 0945 China Caixin Manufacturing PMI (Jan)
• 1655 German Manufacturing PMI (Jan)
• 1730 UK Manufacturing PMI (Jan)
• 1800 Europe CPI (YoY) (Jan)
• 2115 US ADP Nonfarm Employment Change (Jan)
• 2300 US ISM Manufacturing PMI (Jan)
• 2300 US JOLTs Job Openings (Dec)
• 2330 US Crude Oil Inventories

02 Feb, Thu

• 0300 US FOMC Statement
• 0300 US Fed Interest Rate Decision
• 2000 UK BoE Interest Rate Decision (Jan)
• 2115 Europe Deposit Facility Rate (Feb)
• 2115 Europe ECB Interest Rate Decision (Feb)
• 2130 US Initial Jobless Claims
• 2145 Europe ECB Press Conference  

03 Feb, Fri

• 0945 China Caixin Services PMI (Jan)
• 1730 UK Composite PMI (Jan)
• 1730 UK Services PMI (Jan)
• 2130 US Nonfarm Payrolls (Jan)
• 2130 US Unemployment Rate (Jan)
• 2300 US ISM Non-Manufacturing PMI (Jan)