US Markets 13 Jul 24

The US market closed higher. While the S&P and Nasdaq closed at historic highs, the Dow tested the historic high, and Russell rallied and closed at a year's high. 

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

The dollar index continued to close lower while consolidating.

Watch out for

• Speech by US Fed Chair Powell
• Retail Sales and CPI Data by Multiple Countries 
• ECB Interest Rate Decision

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 41,884

Potential support around3 9,754, 37,625, 35,495, 33,365, 31,236

S&P
Daily UT, Weekly UT

Potential resistance around 5,809

Potential support around 5,574, 5,338, 5,103, 4,867, 4,632, 4,396

Nasdaq
Daily UT, Weekly UT

Potential resistance around 20,709, 21,431

Potential support around 19,986, 19,264, 18,542, 17,819, 17,097

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)

15 Jul, Mon

• Japan on holiday
• 1000 China GDP (YoY) (Q2)
• 1000 China Industrial Production (YoY) (Jun)
• 2030 US NY Empire State Manufacturing Index (Jul)

16 Jul, Tue

• 0000 US Fed Chair Powell Speaks
• 1700 German ZEW Economic Sentiment (Jul)
• 2030 US Core Retail Sales (MoM) (Jun)
• 2030 US Retail Sales (MoM) (Jun)
• 2030 Canada Core CPI (MoM) (Jun)
• 2030 Canada CPI (MoM) (Jun)

17 Jul, Wed

• 1400 UK CPI (YoY) (Jun)
• 1700 Europe CPI (YoY) (Jun)
• 2030 US Building Permits (Jun)  
• 2230 US Crude Oil Inventories

18 Jul, Thu

• 0930 Australia Employment Change (Jun)
• 0930 Australia Unemployment Rate (Jun)
• 1400 UK Claimant Count Change (Jun)
• 1400 UK Unemployment Rate (May)
• 2015 Europe Deposit Facility Rate (Jul)
• 2015 Europe ECB Interest Rate Decision (Jul)
• 2030 US Initial Jobless Claims
• 2030 US Philadelphia Fed Manufacturing Index (Jul)
• 2045 Europe ECB Press Conference  

19 Jul, Fri

• 0730 Japan National Core CPI (YoY) (Jun)
• 0730 Japan National CPI (YoY) (Jun)
• 1400 UK Core Retail Sales (MoM) (Jun)
• 1400 UK Retail Sales (MoM) (Jun)
• 2030 Canada Core Retail Sales (MoM) (May)
• 2030 Canada Retail Sales (MoM) (May)