US Markets 04 Feb 23

The US market closed higher, except Dow closed lower in consolidation.

BDI closed lower from 676 (27 Jan) to 621 (03 Feb)

Harpex closed higher from 1,100 (27 Jan) to 1,103 (03 Feb)

CDFI closed lower from 905.49 (20 Jan) to 885.07 (03 Feb)

CCFI closed lower from 1,160.59 (20 Jan) to 1,110 (03 Feb)

The dollar index closed higher with an outside day on the weekly chart.

Watch out for

• Interest rate decision by Australia
• Speech by Fed Chair Powell
• China Inflation Rate 

There will be no update on COT this week due to an ongoing issue with a third-party service provider reporting to CFTC.

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 UT, 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

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

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

06 Feb, Mon

• New Zealand Holiday
• 0830 Australia Retail Sales MoM (Dec)
• 1800 Europe Retail Sales MoM (Dec)
• 2300 Canada Ivey PMI (Jan)

07 Feb, Tue

• 1130 Australia RBA Interest Rate Decision (Feb)
• 1130 Australia RBA Rate Statement  

08 Feb, Wed

• 0140 US Fed Chair Powell Speaks
• 2330 US Crude Oil Inventories

09 Feb, Thu

• 2100 German CPI (YoY) (Jan)
• 2130 US Initial Jobless Claims

10 Feb, Fri

• 0930 China Inflation Rate YoY (Jan)
• 1500 UK GDP (YoY) (Q4)
• 2130 Canada Employment Change (Jan)
• 2300 US Michigan Consumer Sentiment (Feb)