Dollar Index closed higher

The dollar index continued to close higher after last week's broke out.
Resistance at 106.7, TLU2, 109.7
Support at TLD2, 103.6, 102.3, TLU1, TLD1, 100.3

COT for Dollar Index

Weekly chart with 50 SMA

Commodities Update 30 Mar 2024

BDI closed lower from 2,196 (22 Mar) to 1,821 (28 Mar)

Harpex closed higher from 1,216 (22 Mar) to 1,220 (29 Mar)

CDFI closed lower from 1,384.66 (22 Mar) to 1,252.27 (29 Mar)

CCFI closed lower from 1,244.83 (22 Mar) to 1,208.42 (29 Mar)

COT     

Download Commodities COT

Instruments that show buying interest (3) by Producer/Merchant/Processor/User
Down Trend

• Corn
• Soybean Meal
• Soybeans 
• Wheat

Neutral

• Platinum

Up Trend

• Sugar
• Orange Juice
• Palladium

Instruments that show selling interest at extreme (2) only by Producer/Merchant/Processor/User
Up Trend

• None

Neutral

• None

Down Trend

• 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 a trend reversal
Down Trend and Up Trend are based on 50 Simple Moving Averages

US Markets 30 Mar 24

The US market closed higher, except the Nasdaq closed lower. The Dow and S&P closed at historic highs, while the Nasdaq consolidated.

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

The dollar index continued to close higher after last week's broke out.

Watch out for

• Short trading week for most countries
• Manufacturing PMI, Services PMI by multiple countries
• Speech by US Fed Chair Powell
• 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

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 41,884

Potential support around 39,754, 37,625, 35,495, 33,365, 31,236

S&P
Daily UT, Weekly UT

Potential resistance around 5,338

Potential support around 5,103, 4,867, 4,632, 4,396, 4,161

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 2,170, 2,300

Potential support around 2,040, 1,910, 1,779, 1,649, 1,519

Key event to watch out for (SG Time, GMT+8)

01 Apr, Mon

• Australia, Hong Kong and most European countries are having holiday
• 0750 Japan Tankan Large Manufacturers Index (Q1)
• 0945 China Caixin Manufacturing PMI (Mar)
• 2145 US S&P Global US Manufacturing PMI (Mar)
• 2200 US ISM Manufacturing PMI (Mar)

02 Apr, Tue

• 0830 Australia RBA Meeting Minutes 
• 1555 German HCOB Manufacturing PMI (Mar) 
• 1630 UK S&P Global/CIPS UK Manufacturing PMI (Mar)
• 2000 German CPI (MoM) (Mar)
• 2200 US JOLTs Job Openings (Feb)

03 Apr, Wed

• 0945 China Caixin Services PMI (Mar)
• 1700 Europe CPI (YoY) (Mar) 
• 2015 US ADP Nonfarm Employment Change (Mar)
• 2145 US S&P Global Services PMI (Mar)
• 2200 US ISM Non-Manufacturing PMI (Mar)
• 2230 US Crude Oil Inventories

04 Apr, Thu

• China and Hong Kong on holiday
• 0010 US Fed Chair Powell Speaks 
• 1555 German HCOB Services PMI (Mar)
• 1600 Europe HCOB Services PMI (Mar)
• 1630 UK S&P Global/CIPS UK Services PMI (Mar)
• 2030 US Initial Jobless Claims

05 Apr, Fri

• China on holiday
• 2030 US Average Hourly Earnings (MoM) (Mar)
• 2030 US Nonfarm Payrolls (Mar)
• 2030 US Unemployment Rate (Mar)
• 2200 Canada Ivey PMI (Mar)

Dollar Index broke resistance

The dollar index broke lower-high formation, 103.6 and TLD2 resistance and closed higher.
Resistance at 106.7, TLU2, 109.7
Support at TLD2, 103.6, 102.3, TLU1, TLD1, 100.3

COT for Dollar Index

Weekly chart with 50 SMA

Commodities Update 23 Mar 2024

BDI closed lower from 2,374 (15 Mar) to 2,196 (22 Mar)

Harpex closed higher from 1,202 (15 Mar) to 1,216 (22 Mar)

CDFI closed lower from 1,400.97 (15 Mar) to 1,384.66 (22 Mar)

CCFI closed lower from 1,278.28 (15 Mar) to 1,244.83 (22 Mar)

COT     

Download Commodities COT

Instruments that show buying interest (3) by Producer/Merchant/Processor/User
Down Trend

• Corn
• Soybean Oil
• Soybean Meal
• Soybeans (1)
• Wheat
• Platinum

Neutral

• None

Up Trend

• Sugar (1)
• Orange Juice
• Palladium

Instruments that show selling interest at extreme (2) only by Producer/Merchant/Processor/User
Up Trend

• None

Neutral

• None

Down Trend

• 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 a trend reversal
Down Trend and Up Trend are based on 50 Simple Moving Averages

US Markets 23 Mar 24

The US market closed higher. The Dow, S&P and Nasdaq closed at historic highs.
The Dow, Nasdaq and Russell are consolidating.

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

The dollar index broke lower-high formation, 103.6 and TLD2 resistance and closed higher.

Watch out for

• Short trading week for most countries
• US and UK GDP
• Speech by Fed Chair Powell Speaks

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

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 5,338

Potential support around 5,103, 4,867, 4,632, 4,396, 4,161

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

Key event to watch out for (SG Time, GMT+8)

25 Mar, Mon

• 2200 US New Home Sales (Feb)

26 Mar, Tue

• 2030 US Durable Goods Orders (MoM) (Feb)
• 2200 US CB Consumer Confidence (Mar)

27 Mar, Wed

• 2230 US Crude Oil Inventories

28 Mar, Thu

• 1500 UK GDP (YoY) (Q4)
• 2030 US GDP (QoQ) (Q4)
• 2030 US Initial Jobless Claims
• 2145 US Chicago PMI (Mar)

29 Mar, Fri

• 2030 US Core PCE Price Index (MoM) (Feb)
• 2330 US Fed Chair Powell Speaks 

Dollar Index closed higher

The dollar index tested 102.3 support again and closed higher with a +roc (closing price > opening price)
Resistance at 103.6, TLD2, 106.7, TLU2, 109.7
Support at 102.3, TLU1, TLD1, 100.3, 99.8

COT for Dollar Index

Weekly chart with 50 SMA

Commodities Update 16 Mar 2024

BDI closed higher from 2,345 (08 Mar) to 2,374 (15 Mar)

Harpex closed higher from 1,200 (08 Mar) to 1,202 (15 Mar)

CDFI closed lower from 1,425.44 (08 Mar) to 1,400.97 (15 Mar)

CCFI closed lower from 1,312.13 (08 Mar) to 1,278.28 (15 Mar)

COT     

Download Commodities COT

Instruments that show buying interest (3) by Producer/Merchant/Processor/User
Down Trend

• Corn
• Soybean Oil
• Soybean Meal (1)
• Soybeans (1)
• Wheat
• Palladium

Neutral

• Palladium

Up Trend

• Sugar (1)
• Orange Juice

Instruments that show selling interest at extreme (2) only by Producer/Merchant/Processor/User
Up Trend

• None

Neutral

• None

Down Trend

• 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 a trend reversal
Down Trend and Up Trend are based on 50 Simple Moving Averages

US Markets 16 Mar 24

The US market closed lower, and the Dow is consolidating.
Russell broke the high-low formation on the weekly chart while S&P and Nasdaq closed with an inside day.

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

The dollar index tested 102.3 support again and closed higher with a +roc (closing price > opening price)

Watch out for

• Interest rate decisions by Japan, Australia, the US, Switzerland and the UK.
• CPI, Manufacturing PMI and Services PMI 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 

• 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 5,338

Potential support around 5,103, 4,867, 4,632, 4,396, 4,161

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

Key event to watch out for (SG Time, GMT+8)

18 Mar, Mon

• 1000 China Industrial Production (YoY) (Feb)
• 1000 China Unemployment Rate (Jan)
• 1800 Europe CPI (YoY) (Feb)

19 Mar, Tue

• 1030 Japan BoJ Interest Rate Decision
• 1130 Australia RBA Interest Rate Decision (Mar)
• 2030 Canada Core CPI (YoY) (Feb)
• 2030 Canada CPI (YoY) (Feb)

20 Mar, Wed

• Japan on holiday
• 1500 UK CPI (YoY) (Feb)
• 2230 US Crude Oil Inventories

21 Mar, Thu

• 0200 US FOMC Statement 
• 0200 US Fed Interest Rate Decision
• 0230 US FOMC Press Conference
• 0545 New Zealand GDP (QoQ) (Q4)
• 1630 Switzerland SNB Interest Rate Decision (Q1)
• 1630 German HCOB Services PMI (Mar) 
• 1630 German HCOB Manufacturing PMI (Mar) 
• 1700 Europe HCOB Services PMI (Mar) 
• 1700 Europe HCOB Manufacturing PMI (Mar)
• 1730 UK S&P Global Manufacturing PMI (Mar) 
• 1730 UK S&P Global Services PMI (Mar) 
• 2000 UK BoE Interest Rate Decision (Mar)
• 2030 US Initial Jobless Claims
• 2030 US Philadelphia Fed Manufacturing Index (Mar)
• 2145 US S&P Global US Manufacturing PMI (Mar)  
• 2145 US S&P Global Services PMI (Mar)  
• 2200 US Existing Home Sales (Feb)

22 Mar, Fri

• 0730 Japan Inflation Rate YoY (Feb)
• 1500 UK Retail Sales YoY (Feb)
• 2030 Canada Retail Sales YoY (Jan)

Dollar Index tested support and recovered

The dollar index broke consolidation support, tested 102.3 support and recovered some losses before closing.
Resistance at 103.6, TLD2, 106.7, TLU2, 109.7
Support at 102.3, TLU1, TLD1, 100.3, 99.8

COT for Dollar Index

Weekly chart with 50 SMA

Commodities Update 09 Mar 2024

BDI closed higher from 2,203 (01 Mar) to 2,345 (08 Mar)

Harpex closed higher from 1,187 (01 Mar) to 1,200 (08 Mar)

CDFI closed higher from 1,346.59 (01 Mar) to 1,425.44 (08 Mar)

CCFI closed lower from 1,352.4 (01 Mar) to 1,312.13 (08 Mar)

COT     

Download Commodities COT

Instruments that show buying interest (3) by Producer/Merchant/Processor/User
Down Trend

• Corn (1)
• Soybean Oil (1)
• Soybean Meal (1)
• Soybeans (1)
• Wheat
• Copper
• Platinum (1)
• Palladium (1)

Neutral

• Sugar (1)
• Orange Juice

Up Trend

• None

Instruments that show selling interest at extreme (2) only by Producer/Merchant/Processor/User
Up Trend

• Rough Rice

Neutral

• None

Down Trend

• 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 a trend reversal
Down Trend and Up Trend are based on 50 Simple Moving Averages

US Markets 09 Mar 24

The US market closed lower, except Russell closed higher. S&P and Nasdaq closed with an outside day on the weekly chart.

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

The dollar index broke consolidation support, tested 102.3 support and recovered some losses before closing.

Daylight Saving Time has started; the US cash market opens at 2130 Hrs instead of 2230Hrs.

Watch out for

• US CPI data

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 

• None

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 5,338

Potential support around 5,103, 4,867, 4,632, 4,396, 4,161

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 2,170, 2,300

Potential support around 2,040, 1,910, 1,779, 1,649, 1,519

Key event to watch out for (SG Time, GMT+8)

11 Mar, Mon

• 0750 Japan GDP (QoQ) (Q4)

12 Mar, Tue

• 1500 German CPI (MoM) (Feb)
• 1500 UK Unemployment Rate (Jan)
• 2030 US Core CPI (MoM) (Feb)
• 2030 US CPI (MoM) (Feb)

13 Mar, Wed

• 0100 US 10-Year Note Auction
• 1500 UK GDP (MoM) (Jan)
• 2230 US Crude Oil Inventories

14 Mar, Thu

• 0100 US 30-Year Bond Auction
• 2030 US Core Retail Sales (MoM) (Feb)
• 2030 US Retail Sales (MoM) (Feb)
• 2030 US Initial Jobless Claims
• 2030 US PPI (MoM) (Feb)

15 Mar, Fri

• 2030 US NY Empire State Manufacturing Index (Mar)
• 2200 US Michigan Consumer Sentiment (Mar) 

Dollar Index is consolidating

The dollar index closed lower while consolidating.
Resistance at 106.7, TLU2, TLU1, 109.7
Support at 103.6, 102.3, TLD2, TLD1, 100.3, 99.8

COT for Dollar Index

Weekly chart with 50 SMA

Commodities Update 02 Mar 2024

BDI closed higher from 1,866 (23 Feb) to 2,203 (01 Mar)

Harpex closed higher from 1,158 (23 Feb) to 1,187 (01 Mar)

CDFI closed higher from 1,211.97 (23 Feb) to 1,346.59 (01 Mar)

CCFI closed lower from 1,402.22 (23 Feb) to 1,352.4 (01 Mar)

COT     

Download Commodities COT

Instruments that show buying interest (3) by Producer/Merchant/Processor/User
Down Trend

• Corn (1)
• Soybean Oil
• Soybean Meal (1)
• Soybeans (1)
• Wheat
• Orange Juice
• Platinum (1)
• Palladium (1)

Neutral

• Sugar
• Copper
• Heating Oil

Up Trend

• None

Instruments that show selling interest at extreme (2) only by Producer/Merchant/Processor/User
Up Trend

• Rough Rice

Neutral

• None

Down Trend

• 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 a trend reversal
Down Trend and Up Trend are based on 50 Simple Moving Averages

US Markets 02 Mar 24

The US market closed higher, except the Dow closed lower.
S&P and Nasdaq closed at historic highs.

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

The dollar index closed lower while consolidating.

Watch out for

• Services PMI  by multiple countries
• Interest Rate Decision by Canada and Europe
• US Fed Chair Powell Testifies
• US NFP
• Daylight Saving Time starts 10 Mar 2024

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 

• 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 5,338

Potential support around 5,103, 4,867, 4,632, 4,396, 4,161

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 2,170, 2,300

Potential support around 2,040, 1,910, 1,779, 1,649, 1,519

Key event to watch out for (SG Time, GMT+8)

04 Mar, Mon

• No important data

05 Mar, Tue

• 0945 China Caixin Services PMI (Feb)
• 1655 German HCOB Services PMI (Feb)
• 1700 Europe HCOB Services PMI (Feb)
• 1730 UK S&P Global Services PMI (Feb)
• 2230 Canada S&P Global Services PMI (Feb)
• 2245 US S&P Global Services PMI (Feb)
• 2300 US ISM Non-Manufacturing PMI (Feb)

06 Mar, Wed

• 0830 Australia GDP Growth Rate QoQ (Q4)
• 0830 Australia Retail Sales MoM (Jan)
• 1800 Europe Retail Sales YoY (Jan)
• 2115 US ADP Nonfarm Employment Change (Feb)
• 2245 Canada BoC Interest Rate Decision
• 2300 US Fed Chair Powell Testifies  
• 2300 US JOLTs Job Openings (Jan)
• 2300 Canada Ivey PMI s.a (Feb)
• 2330 US Crude Oil Inventories

07 Mar, Thu

• 2115 Europe Deposit Facility Rate (Mar)
• 2115 Europe ECB Interest Rate Decision (Mar)
• 2130 US Initial Jobless Claims
• 2145 Europe ECB Press Conference 
• 2300 US Fed Chair Powell Testifies  

08 Mar, Fri

• 1800 Europe Employment Change (Q4)
• 2130 Canada Unemployment Rate (Feb)
• 2130 US Average Hourly Earnings (MoM) (Feb)
• 2130 US Nonfarm Payrolls (Feb)
• 2130 US Unemployment Rate (Feb)

09 Mar, Sat

• 0930 China Inflation Rate YoY (Feb)