US Markets 25 Feb 23

The US market closed broke hlf (high low formation) on the weekly chart and lower. Dow, Nasdaq and Russell closed around the consolidated support range. 

BDI closed higher from 538 (17 Feb) to 883 (24 Feb)

Harpex closed lower from 1,065 (17 Feb) to 1,059 (24 Feb)

CDFI closed higher from 862.26 (17 Feb) to 935.05 (24 Feb)

CCFI closed lower from 1,094.05 (17 Feb) to 1,077.75 (24 Feb)

The Dollar Index broke consolidation resistance.

Watch out for

• Manufacturing PMI by multiple countries
• ECB Monetary Policy Statement

The cyber-related incident at ION prevented timely and accurate data submission to the CFTC. CFTC started clearing backlogged reports and expects to complete them by mid-Mar.

COT reports will resume when the data is up to date.

Dow

Daily Neutral, Weekly UT
Potential resistance around 33,365, 35,495, 37,625, 39,754

Potential support around 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, 14,207

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

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

27 Feb, Mon

• 2130 US Durable Goods Orders MoM (Jan)
• 2300 US Pending Home Sales (MoM) (Jan)

28 Feb, Tue

• 0830 Australia Retail Sales (MoM) (Jan)
• 2130 Canada GDP (MoM) (Dec)
• 2130 US Goods Trade Balance (Jan) 
• 2300 US CB Consumer Confidence (Feb)

01 Mar, Wed

• 0830 Australia GDP (QoQ) (Q4)
• 0930 China Manufacturing PMI (Feb)
• 0945 China Caixin Manufacturing PMI (Feb)
• 1655 German Manufacturing PMI (Feb)
• 1655 German Unemployment Change
• 1700 Europe Manufacturing PMI (Feb)
• 1730 UK Manufacturing PMI (Feb)
• 2100 German CPI (YoY) (Feb)
• 2300 US ISM Manufacturing PMI (Feb)
• 2330 US Crude Oil Inventories

02 Mar, Thu

• 1800 Europe CPI (YoY) (Feb)
• 2030 Europe ECB Monetary Policy Statement
• 2130 US Initial Jobless Claims

03 Mar, Fri

• 0945 China Caixin Services PMI (Feb)
• 1630 Europe ECB Guindos Speech 
• 1700 Eruope Services PMI (Feb)
• 1730 UK Composite PMI (Feb)
• 1730 UK Services PMI (Feb)
• 2300 US ISM Non-Manufacturing PMI (Feb)