US Markets 18 Feb 23

The US market closed mixed while consolidating. Dow and S&P closed lower; Nasdaq and Russell closed higher. 

BDI closed lower from 602 (10 Feb) to 538 (17 Feb)

Harpex closed lower from 1,091 (10 Feb) to 1,065 (17 Feb)

CDFI closed lower from 869.94 (10 Feb) to 862.26 (17 Feb)

CCFI closed lower from 1,133.1 (10 Feb) to 1,094.05 (17 Feb)

The dollar index closed higher.

Watch out for

• Interest Rate Decision by China, New Zealand
• CPI and Manufacturing PMI from multiple countries
• US FOMC Meeting Minutes

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 Neutral
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)

20 Feb, Mon

• Canada and US holiday
• 0915 China PBoC Loan Prime Rate

21 Feb, Tue

• 0830 Australia RBA Meeting Minutes
• 1630 German Manufacturing PMI (Feb)  
• 1700 Europe Manufacturing PMI (Feb) 
• 1730 UK Composite PMI 
• 1730 UK Manufacturing PMI  
• 1730 UK Services PMI 
• 1800 German ZEW Economic Sentiment (Feb)
• 2130 Canada Core CPI (MoM) (Jan)
• 2130 Canada Core Retail Sales (MoM) (Dec)
• 2130 Canada Inflation Rate YoY (Jan)
• 2245 US Manufacturing PMI (Feb) 
• 2300 US Existing Home Sales (Jan)

22 Feb, Wed

• 0900 New Zealand RBNZ Interest Rate Decision
• 1000 New Zealand RBNZ Press Conference
• 1500 German CPI (Jan)
• 1700 German Ifo Business Climate Index (Feb)

23 Feb, Thu

• Japan Holiday
• 0300 US FOMC Meeting Minutes
• 1800 Europe CPI (YoY) (Jan)
• 2130 US GDP (QoQ) (Q4)
• 2130 US Initial Jobless Claims

24 Feb, Fri

• 0000 US Crude Oil Inventories
• 0730 Japan Inflation Rate YoY (Jan)
• 1500 German GDP (QoQ) (Q4)
• 2130 US Core PCE Price Index (MoM) (Jan)
• 2300 US New Home Sales (Jan)
• 2300 US Michigan Consumer Sentiment (Feb)