US Markets 25 Mar 23

The US market closed higher. Dow, S&P and Nasdaq broke lhf (lower high formation) on the weekly chart, while Russell closed with a -roc (closing price < opening price) outside day on the weekly chart.

BDI, CCFI and CDFI closed lower, while Harpex closed higher.

The dollar index closed lower.

Watch out for

• Start of Daylight Saving on 26 Mar in Europe
• GDP data by multiple countries
• Speech by UK BoE Gov Bailey
• China Manufacturing PMI

Instruments that show buying interest (3) from Dealer/Intermediary (sell-side participants)

UT 

• None

Neutral 

• S&P

DT 

• Dow

Instruments that show selling interest at extreme (2) by Dealer/Intermediary (sell-side participants)
UT 

• None

Neutral 

• None

DT 

• None

Note

(1) COT Index >= 90, Buying interest at extreme
(2) COT Index <= 10, Selling interest at extreme
(3) COT Index >= 70, rising COT Index, monitor for trend reversal

Down Trend and Up Trend are based on 50 Simple Moving Average

Dow
Daily DT, Weekly DT
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 Neutral, 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 13,485, 14,207, 14,930, 15,652

Potential support around 12,762, 12,040, 11,318, 10,595, 9,873

Russell
Daily DT, Weekly DT
Potential resistance around 1,779, 1,910, 2,040, 2,170, 2,300

Potential support around 1,649, 1,519, 1,389, 1,259

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

27 Mar, Mon

• 1600 German Ifo Business Climate Index (Mar) 

28 Mar, Tue

• 0100 UK BoE Gov Bailey Speaks
• 0830 Australia Retail Sales (MoM) (Feb)
• 1645 UK BoE Gov Bailey Speaks
• 2030 US Goods Trade Balance (Feb) 
• 2200 US CB Consumer Confidence (Mar)

29 Mar, Wed

• 2200 US Pending Home Sales (MoM) (Feb)
• 2230 US Crude Oil Inventories

30 Mar, Thu

• 2000 German CPI (YoY) (Mar)
• 2030 US GDP (QoQ) (Q4)
• 2030 US Initial Jobless Claims

31 Mar, Fri

• 0930 China Manufacturing PMI (Mar)
• 1400 UK GDP Growth Rate QoQ (Q4)
• 1555 German Unemployment Change (Mar)
• 1700 Europe CPI (YoY) (Mar) 
• 2030 US Core PCE Price Index (MoM) (Feb)
• 2030 Canada GDP (MoM) (Jan)
• 2200 US Michigan Consumer Sentiment (Mar)