US Markets 25 Nov 23

The US market closed higher. Russell closed with an inside day on the weekly chart.

BDI accelerated higher, from 1,758 (17 Nov) to 2,102 (24 Nov)

Harpex closed lower from 838 (17 Nov) to 832 (24 Nov)

CDFI closed higher from 1,153.41 (17 Nov) to 1,175.71 (24 Nov)

CCFI closed higher from 872.11 (17 Nov) to 876.74 (24 Nov)

The dollar index continued to close lower.

Watch out for

• New Zealand RBNZ Interest Rate Decision
• US and China Manufacturing PMI
• US GDP
• Speech by Fed Chair Powell

There will be no update on COT this week due to the delayed release date due to a Federal holiday.

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

Nasdaq
Daily UT, Weekly UT

Potential resistance around 16,374, 17,097, 17,819

Potential support around 15,652, 14,930, 14,207, 13,485, 12,762

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

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

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

27 Nov, Mon

• 2100 US Building Permits
• 2300 US New Home Sales (Oct)

28 Nov, Tue

• 2300 US CB Consumer Confidence (Nov)

29 Nov, Wed

• 0900 New Zealand RBNZ Interest Rate Decision
• 2100 German CPI (MoM) (Nov)
• 2130 US GDP (QoQ) (Q3)
• 2330 US Crude Oil Inventories

30 Nov, Thu

• 0930 China Manufacturing PMI (Nov)
• 1655 German Unemployment Rate (Nov)
• 1800 Europe Unemployment Rate (Oct)
• 1800 Europe CPI (YoY) (Nov)  
• 2130 Canada GDP Growth Rate QoQ (Q3)
• 2130 US Core PCE Price Index (YoY) (Oct)
• 2130 US Initial Jobless Claims
• 2300 US Pending Home Sales (MoM) (Oct)

01 Dec, Fri

• 0945 China Caixin Manufacturing PMI (Nov)
• 2230 Canada S&P Global Manufacturing PMI (Nov)
• 2230 Canada Unemployment Rate (Nov)
• 2300 US ISM Manufacturing PMI (Nov)

02 Dec, Sat

• 0000 US Fed Chair Powell Speaks