US Markets 24 Jun 2023

The US market closed lower. While Dow and Russell broke hlf (higher low formation) on the weekly chart, S&P and Nasdaq closed with an inside day.

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

The dollar index broke pdl (previous day's low) on the weekly chart and reversed to close higher.

Watch out for

• Speech by Fed Chair Powell
• ECB Forum on Central Banking
• CPI and GDP data by multiple countries

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 

• Nasdaq

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 4,396, 4,632, 4,867, 5,103

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

Nasdaq
Daily UT, Weekly UT

Potential resistance around 14,930, 15,652, 16,374, 17,097

Potential support around 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)

26 Jun, Mon

• 0800 Europe ECB Forum on Central Banking
• 1600 German Ifo Business Climate (Jun)

27 Jun, Tue

• 0800 Europe ECB Forum on Central Banking
• 2000 US Building Permits
• 2030 Canada Inflation Rate YoY (May)
• 2030 US Core Durable Goods Orders (MoM) (May)
• 2200 US CB Consumer Confidence (Jun)
• 2200 US New Home Sales (May)

28 Jun, Wed

• 0800 Europe ECB Forum on Central Banking
• 2130 US Fed Chair Powell Speaks
• 2230 US Crude Oil Inventories

29 Jun, Thu

• 0930 Australia Retail Sales MoM (May) 
• 1430 US Fed Chair Powell Speaks
• 2000 German CPI (MoM) (Jun) 
• 2030 US GDP (QoQ) (Q1)
• 2030 US Initial Jobless Claims
• 2200 US Pending Home Sales (MoM) (May)

30 Jun, Fri

• 0930 China Manufacturing PMI (Jun)
• 1400 UK GDP (YoY) (Q1)
• 1700 Europe CPI (YoY) (Jun)
• 2030 US Core PCE Price Index (MoM) (May)
• 2200 US Michigan Consumer Sentiment (Jun)