US Markets 08 Apr 23

The US market closed lower, except Dow closed higher. While Nasdaq closed with an inside day on the weekly chart, Russell closed with an outside day.

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

The dollar index closed lower while consolidating.

Watch out for

• CPI data by multiple countries
• Canada Interest Rate Decision
• US FOMC Meeting Minutes 

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

UT 

• S&P

Neutral 

• None

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 35,495, 37,625, 39,754
Potential support around 33,365, 31,236, 29,106, 26,976

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

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

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)

10 Apr, Mon

• Holiday for Australia, New Zealand, Hong Kong and most of the European countries
• No important data

11 Apr, Tue

• 0930 China CPI (YoY) (Mar)
• 0930 China PPI (YoY) (Mar)

12 Apr, Wed

• 2030 US Core CPI (MoM) (Mar)
• 2030 US CPI (MoM) (Mar)
• 2100 UK BoE Gov Bailey Speaks
• 2200 Canada BoC Monetary Policy Report 
• 2200 Canada BoC Interest Rate Decision
• 2230 US Crude Oil Inventories
• 2300 Canada BOC Press Conference

13 Apr, Thu

• 0200 US FOMC Meeting Minutes 
• 0315 UK BoE Gov Bailey Speaks
• 0930 Australia Employment Change (Mar)
• 1400 UK GDP (MoM) (Feb)
• 1400 German CPI (MoM) (Mar)
• 2030 US Initial Jobless Claims

14 Apr, Fri

• 2030 US Core Retail Sales (MoM) (Mar)
• 2030 US Retail Sales (MoM) (Mar)
• 2200 US Michigan Consumer Sentiment (Apr)