US Markets 10 Feb 24

The US market closed higher. Dow, S&P and Nasdaq closed at historic highs. Russell closed with an outside day on the weekly chart while consolidating.

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

The dollar index closed higher, but the traders trimmed most of the gain before closing.

Watch out for

• China long holiday
• Hong Kong Short Trading Week 
• GDP and CPI 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
• 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 18,542

Potential support around 17,819, 17,097, 16,374, 15,652

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)

12 Feb, Mon

• China, Hong Kong, Japan and Singapore on holiday
• No important data

13 Feb, Tue

• China and Hong Kong on holiday
• 1500 UK Employment Change 3M/3M (MoM) (Dec)
• 1800 German ZEW Economic Sentiment (Feb)
• 2130 US Core CPI (MoM) (Jan)
• 2130 US CPI (MoM) (Jan)

14 Feb, Wed

• China on holiday
• 1500 UK CPI (YoY) (Jan)
• 1800 Europe GDP (QoQ)
• 1800 Europe Employment Change (YoY)
• 2330 US Crude Oil Inventories

15 Feb, Thu

• China on holiday
• 0750 Japan GDP (QoQ) (Q4)  
• 0830 Australia Employment Change (Jan)
• 1500 UK GDP (YoY) (Q4)  
• 2130 US Core Retail Sales (MoM) (Jan)
• 2130 US Retail Sales (MoM) (Jan)
• 2130 US Initial Jobless Claims
• 2130 US Philadelphia Fed Manufacturing Index (Feb)

16 Feb, Fri

• China on holiday
• 1500 UK Core Retail Sales (YoY) (Jan)
• 1500 UK Retail Sales (YoY) (Jan)
• 2130 US PPI (MoM) (Jan)
• 2130 US Building Permits (Jan)  
• 2300 US Michigan Consumer Sentiment (Feb)