US Markets 11 Mar 23

The US market slumped.
Dow, S&P and Nasdaq closed with an outside day on the weekly chart, while Russell broke hlf (higher low formation) and consolidated support level.

BDI continues to rally higher, from 1,211 (03 Mar) to 1,424 (10 Mar) 

Harpex remained the same at 1,056 (10 Mar) 

CDFI rallied higher from 1,017.13 (03 Mar) to 1,070.64 (10 Mar) 

CCFI closed lower from 1,057.68 (03 Mar) to 1,020.6 (10 Mar) 

The dollar index broke pwh (previous week high) and reversed to close lower.

Watch out for

• Start of Daylight Saving in the US
• China Industrial Production
• Europe and US CPI data
• Europe ECB Interest Rate Decision

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

Possible support around 31,236, 29,106, 26,976, 24,847

S&P
Daily UT, Weekly DT

Potential resistance around 3,925, 4,161, 4,396, 4,632

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

Nasdaq
Daily UT, Weekly DT

Potential resistance around 12,040, 12,762, 13,485, 14,207

Possible 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)

13 Mar, Mon

• No important data

14 Mar, Tue

• 1500 UK Claimant Count Change (Feb)
• 1500 UK Unemployment Rate (Jan)
• 2030 US Core CPI (MoM) (Feb)
• 2030 US CPI (MoM) (Feb)

15 Mar, Wed

• 1000 China Industrial Production (YoY) (Feb)
• 2030 US Core Retail Sales (MoM) (Feb)
• 2030 US Retail Sales (MoM) (Feb)
• 2030 US PPI (MoM) (Feb)
• 2230 US Crude Oil Inventories

16 Mar, Thu

• 0545 New Zealand GDP (QoQ) (Q4)
• 0830 Australia Employment Change (Feb)
• 2030 US Building Permits (Feb)  
• 2030 US Initial Jobless Claims
• 2030 US Philadelphia Fed Manufacturing Index (Mar)
• 2115 Europe ECB Interest Rate Decision (Mar)
• 2145 Europe ECB Press Conference

17 Mar, Fri

• 1800 Europe CPI (YoY) (Feb)  
• 2200 US Michigan Consumer Sentiment (Mar)