US Markets 17 Jun 2023

The US market closed higher. Russell closed on the weekly chart with a -roc (closing price < opening price).

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

The dollar index broke and closed below support, 102.3.

Watch out for

• Short trading week for China
• Fed Chair Powell Testifies
• Switzerland and UK Interest Rate Decision 

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

UT 

• None

Neutral 

• None

DT 

• None

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 UT, Weekly UT
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 UT

Potential resistance around 4,632, 4,867, 5,103

Potential support around 4,396, 4,161, 3,925, 3,690, 3,454

Nasdaq
Daily UT, Weekly UT

Potential resistance around 15,652, 16,374, 17,097

Potential support around 14,930, 14,207, 13,485, 12,762, 12,040

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

Potential support around 1,779, 1,649, 1,519, 1,389, 1,259

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

19 Jun, Mon

• US on holiday
• No important data

20 Jun, Tue

• 0930 Australia RBA Meeting Minutes
• 2030 US Building Permits (May) 

21 Jun, Wed

• 1400 UK CPI (YoY) (May)
• 2030 Canada Retail Sales YoY (Apr)
• 2200 US Fed Chair Powell Testifies

22 Jun, Thu

• Hong Kong and China on holiday
• 1530 Switzerland SNB Interest Rate Decision (Q2)
• 1600 Switzerland SNB Press Conference
• 1900 UK BoE Interest Rate Decision
• 2000 UK BOE Inflation Letter
• 2030 US Initial Jobless Claims
• 2200 US Existing Home Sales (May)
• 2200 US Fed Chair Powell Testifies
• 2300 US Crude Oil Inventories

23 Jun, Fri

• China on holiday
• 0730 Japan Inflation Rate YoY (May)
• 1530 German Manufacturing PMI (Jun)  
• 1600 Europe Manufacturing PMI (Jun)  
• 1630 UK Manufacturing PMI  
• 2145 US Services PMI (Jun)