US Markets 15 Jun 24

The US market closed mixed. While Dow and Russell closed lower during consolidation, S&P and Nasdaq closed at historic highs. Russell closed with an outside day on the weekly chart.

BDI, Harpex, CCFI and CDFI continued to close higher.

The dollar index tested and closed above TLU3 resistance.

Watch out for

• Interest rate decisions by China, Australia, Switzerland and the UK
• Manufacturing PMI, Services PMI and CPI 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 

• 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 DT, 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 5,574

Potential support around 5,338, 5,103, 4,867, 4,632, 4,396

Nasdaq
Daily UT, Weekly UT

Potential resistance around 19,986, 20,709

Potential support around 19,264, 18,542, 17,819, 17,097, 16,374

Russell
Daily DT, 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)

17 Jun, Mon

• 1000 China Industrial Production (YoY) (May)
• 1000 China Chinese Unemployment Rate (May)
• 2030 US NY Empire State Manufacturing Index (Jun)

18 Jun, Tue

• 1230 Australia RBA Interest Rate Decision (Jun)
• 1700 Europe CPI (YoY) (May)
• 2030 US Core Retail Sales (MoM) (May)
• 2030 US Retail Sales (MoM) (May)

19 Jun, Wed

• US on holiday
• 1400 UK CPI (YoY) (May)

20 Jun, Thu

• 0645 New Zealand GDP (QoQ) (Q1)
• 0915 China PBoC Loan Prime Rate
• 1400 German PPI (MoM) (May)
• 1530 Switzerland SNB Interest Rate Decision (Q2)
• 1900 UK BoE Interest Rate Decision (Jun)
• 2030 US Building Permits (May)  
• 2030 US Philadelphia Fed Manufacturing Index (Jun)
• 2300 US Crude Oil Inventories

21 Jun, Fri

• 0730 Japan National Core CPI (YoY) (May)
• 1400 UK Core Retail Sales (YoY) (May)
• 1400 UK Retail Sales (YoY) (May)
• 1530 German HCOB Manufacturing PMI (Jun) 
• 1530 German HCOB Services PMI (Jun) 
• 1600 Europe HCOB Manufacturing PMI (Jun) 
• 1600 Europe HCOB Services PMI (Jun) 
• 1630 UK S&P Global/CIPS UK Composite PMI  
• 1630 UK S&P Global/CIPS UK Manufacturing PMI  
• 2030 Canada Core Retail Sales (MoM) (Apr)
• 2030 Canada Retail Sales (MoM) (Apr)
• 2145 US S&P Global US Manufacturing PMI (Jun)  
• 2145 US S&P Global Services PMI (Jun) 
• 2200 US Existing Home Sales (May)
• 2300 US Fed Monetary Policy Report