US Markets 13 Jan 24

The US market broke the lower-high formation on the weekly chart and closed higher, except Russell broke the previous week's low and closed lower.

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

The dollar index edged higher and closed with an inside day on the weekly chart. 

Watch out for

• CPI and retail sales 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 

• 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 17,097, 17,819

Potential support around 16,374, 15,652, 14,930, 14,207

Russell
Daily UT, Weekly UT
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)

15 Jan, Mon

• 1700 German Full-Year GDP Growth (2023)

16 Jan, Tue

• 1500 German CPI (MoM) (Dec)
• 1500 UK Unemployment Rate (Nov)
• 1500 UK Claimant Count Change (Dec)
• 1800 German ZEW Economic Sentiment Index (Jan)
• 2130 Canada CPI (MoM) (Dec)
• 2130 Canada Core CPI (MoM) (Dec)
• 2130 US NY Empire State Manufacturing Index (Jan)

17 Jan, Wed

• 1000 China GDP (YoY) (Q4)
• 1000 China Industrial Production (YoY) (Dec)
• 1000 China Unemployment Rate (Dec)
• 1000 China Retail Sales YoY (Dec)
• 1500 UK CPI (YoY) (Dec)
• 1800 Europe CPI (YoY) (Dec)
• 2130 US Core Retail Sales (MoM) (Dec)
• 2130 US Retail Sales (MoM) (Dec)

18 Jan, Thu

• 0830 Australia Unemployment Rate (Dec)
• 2130 US Initial Jobless Claims
• 2130 US Philadelphia Fed Manufacturing Index (Jan)
• 2130 US Building Permits (Dec) 

19 Jan, Fri

• 0000 US Crude Oil Inventories
• 0730 Japan Inflation Rate YoY (Dec)
• 1500 UK Retail Sales MoM (Dec)
• 2130 Canada Retail Sales MoM (Dec)
• 2300 US Existing Home Sales (Dec)
• 2300 US Michigan Consumer Sentiment (Jan)