US Markets 17 Feb 24

The US market closed lower, except Russell closed higher. 
Russell is testing a long-term strong resistance range.

While BDI and Harpex closed higher, CCFI and CDFI closed for a holiday.

The dollar index continued to close higher. The traders trimmed most of the gain before closing.

Watch out for

• FOMC Meeting Minutes
• CPI, Services 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 

• 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)

19 Feb, Mon

• Canada and US on holiday
• No important data

20 Feb, Tue

• 0830 Australia RBA Meeting Minutes
• 0945 China PBoC Loan Prime Rate
• 2130 Canada Core CPI (YoY) (Jan)
• 2130 Canada CPI (YoY) (Jan)

21 Feb, Wed

• No important data

22 Feb, Thu

• 0300 US FOMC Meeting Minutes
• 1630 German HCOB Manufacturing PMI (Feb)  
• 1630 German HCOB Services PMI (Feb)  
• 1700 Europe HCOB Manufacturing PMI (Feb)  
• 1700 Europe HCOB Services PMI (Feb)  
• 1800 Europe CPI (YoY) (Jan)
• 2130 US Initial Jobless Claims
• 2130 Canada Core Retail Sales (MoM) (Dec)
• 2130 Canada Retail Sales (MoM) (Dec)
• 2245 US S&P Global US Manufacturing PMI (Feb)  
• 2245 US S&P Global Services PMI (Feb)  
• 2300 US Existing Home Sales (Jan)

23 Feb, Fri

• 0000 US Crude Oil Inventories
• 1500 German GDP (QoQ) (Q4)