US Markets 27 Jan 24

The US market closed higher.

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

The dollar index closed higher. It tested 103.6 resistance but was unable to hold.

Watch out for

• Interest rate decisions by the US and UK.
• US Nonfarm Payrolls

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
• Nasdaq
• 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 5,103

Potential support around 4,867, 4,632, 4,396, 4,161, 3,925

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)

29 Jan, Mon

• No important data

30 Jan, Tue

• 1700 German GDP (QoQ) (Q4)
• 1800 Europe GDP (QoQ) (Q4)   
• 2300 US CB Consumer Confidence (Jan)
• 2300 US JOLTs Job Openings (Dec)

31 Jan, Wed

• 0830 Australia CPI (Q4)
• 0930 China Manufacturing PMI (Jan)
• 1500 German Retail Sales (Dec)
• 2100 German CPI (MoM) (Jan) 
• 2115 US ADP Nonfarm Employment Change (Jan)
• 2245 US Chicago PMI (Jan)
• 2330 US Crude Oil Inventories

01 Feb, Thu

• 0300 US Fed Interest Rate Decision
• 0330 FOMC Press Conference 
• 0945 China Caixin Manufacturing PMI (Jan)
• 1800 Europe CPI (YoY) (Jan)
• 2000 UK BoE Interest Rate Decision (Jan)
• 2130 US Initial Jobless Claims
• 2245 US S&P Global US Manufacturing PMI (Jan)
• 2300 US ISM Manufacturing PMI (Jan)

02 Feb, Fri

• 2130 US Average Hourly Earnings (MoM) (Jan)
• 2130 US Nonfarm Payrolls (Jan)
• 2130 US Unemployment Rate (Jan)