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