US Markets 20 Jan 24

The US market closed higher, except Russell closed lower.

BDI, Harpex, CCFI and CDFI closed higher.

The dollar index broke the lower high formation on the weekly chart and closed higher.

Watch out for

• Interest rate decisions by  Japan, Canada and Europe
• Services PMI and Manufacturing PMI  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 

• 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 39,754, 41,884

Potential support around 37,625, 35,495, 33,365, 31,236

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 17,819, 18,542

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

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)

22 Jan, Mon

• No important data

23 Jan, Tue

• 1030 Japan BoJ Interest Rate Decision
• 1430 Japan BoJ Press Conference  

24 Jan, Wed

• 0545 New Zealand CPI (QoQ) (Q4)
• 1630 German HCOB Services PMI (Jan) 
• 1630 German HCOB Manufacturing PMI (Jan) 
• 1700 Europe HCOB Services PMI (Jan) 
• 1700 Europe HCOB Manufacturing PMI (Jan) 
• 1730 UK S&P Global/CIPS Services PMI (Jan) 
• 1730 UK S&P Global/CIPS Manufacturing PMI (Jan) 
• 2245 US S&P Global US Manufacturing PMI (Jan)  
• 2245 US S&P Global Services PMI (Jan)  
• 2300 Canada BoC Interest Rate Decision
• 2230 US Crude Oil Inventories

25 Jan, Thu

• 0000 Canada BOC Press Conference
• 2115 Europe ECB Interest Rate Decision (Jan)
• 2130 US Core Durable Goods Orders (MoM) (Dec)
• 2130 US GDP (QoQ) (Q4)  
• 2130 US Initial Jobless Claims
• 2145 Europe ECB Press Conference 
• 2300 US New Home Sales (Dec)

26 Jan, Fri

• Australia on holiday
• 2130 US Core PCE Price Index (MoM) (Dec)