US Markets 18 Mar 23

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

BDI closed higher from 1,424 (10 Mar) to 1,535 (17 Mar)

Harpex closed higher from 1,056 (10 Mar) to 1,066 (17 Mar)

CDFI closed higher from 1,070.64 (10 Mar) to 1,107.42 (17 Mar)

CCFI closed lower from 1,020.6 (10 Mar) to 992.5(17 Mar)

The dollar index broke hlf (higher low formation) and closed lower.

Watch out for

• Interest rate decisions by China, US, UK and Switzerland.
• Manufacturing PMI data by multiple countries
• EU Leaders Summit
• Start of Daylight Saving on 26 Mar in Europe

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 DT
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 12,762, 13,485, 14,207

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

Russell
Daily Neutral, Weekly DT
Potential resistance around 1,779, 1,910, 2,040, 2,170

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

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

20 Mar, Mon

• 0915 China PBoC Loan Prime Rate
• 2200 Europe ECB President Lagarde Speaks  

21 Mar, Tue

• Japan Holiday
• 0000 Europe ECB President Lagarde Speaks  
• 0830 Australia RBA Meeting Minutes
• 1800 German ZEW Economic Sentiment (Mar)
• 2030 Canada Core CPI (MoM) (Feb)
• 2030 Europe ECB President Lagarde Speaks  
• 2200 US Existing Home Sales

22 Mar, Wed

• 1500 UK CPI (YoY) (Feb)
• 1645 Europe ECB President Lagarde Speaks  
• 2230 US Crude Oil Inventories

23 Mar, Thu

• 0200 US Fed Interest Rate Decision
• 0230 US FOMC Press Conference
• 1630 Switzerland SNB Interest Rate Decision (Q1)
• 1800 Europe EU Leaders Summit  
• 2000 UK BoE Interest Rate Decision (Mar)
• 2000 UK BoE MPC Meeting Minutes
• 2000 US Building Permits
• 2030 US Initial Jobless Claims
• 2200 US New Home Sales (Feb)

24 Mar, Fri

• 0730 Japan Inflation Rate YoY (Feb)
• 1500 UK Retail Sales (MoM) (Feb)
• 1630 German Manufacturing PMI (Mar)  
• 1700 Europe Manufacturing PMI (Mar)  
• 1730 UK Manufacturing PMI (Mar)  
• 1800 Europe EU Leaders Summit  
• 2030 US Core Durable Goods Orders (MoM) (Feb)
• 2030 Canada Core Retail Sales (MoM) (Jan)
• 2145 US Manufacturing PMI (Mar)