US Markets 06 Jan 24

The US market broke the higher-low formation on the weekly chart and closed lower.

BDI closed at 2,110 (05 Jan)

Harpex closed at 853 (05 Jan)

CDFI closed at 1,219.15 (05 Jan)

CCFI closed at 936.83 (05 Jan)

The dollar index broke the lower-high formation on the weekly chart and closed higher. It tested TLD2 resistance and pulled back.

Watch out for

• CPI data by multiple countries
• US Note and Bond auction

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 

• Dow
• S&P
• Russell

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 Averages.

Dow
Daily UT, Weekly UT
Potential resistance around 37,625, 39,754

Potential support around 35,495, 33,365, 31,236, 29,106

S&P
Daily UT, Weekly UT

Potential resistance around 4,867, 5,103

Potential support around 4,632, 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

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

Potential support around 1,910, 1,779, 1,649, 1,519, 1,389

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

08 Jan, Mon

• Japan on holiday
• 1530 Switzerland CPI (Dec)
• 1800 Europe Retail Sales YoY (Nov)

09 Jan, Tue

• 0830 Australia Retail Sales MoM (Nov)
• 1800 Europe Unemployment Rate (Nov)
• 2130 US Balance of Trade (Nov)

10 Jan, Wed

• 0830 Australia Monthly CPI Indicator (Nov)
• 2330 US Crude Oil Inventories

11 Jan, Thu

• 0200 US 10-Year Note Auction
• 2130 US Core CPI (MoM) (Dec)
• 2130 US CPI (MoM) (Dec)
• 2130 US Initial Jobless Claims

12 Jan, Fri

• 0200 US 30-Year Bond Auction
• 0930 China CPI (YoY) (Dec)
• 0930 China PPI (YoY) (Dec)
• 1100 China Balance of Trade (Dec)
• 1500 UK GDP (MoM) (Nov)
• 1500 UK Balance of Trade (Dec)
• 2130 US PPI (MoM) (Dec)