US Markets 09 Nov 24

The US market closed at a historic high.  

BDI, Harpex, CDFI and CCFI closed higher.

The dollar index closed higher with an outside day on the weekly chart.

Watch out for

• Unemployment and GDP data by multiple countries
• US CPI Data
• Speech by US Fed Chair Powell 

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
• 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 44,014, 46,144

Potential support around 41,884, 39,754, 37,625, 35,495, 33,365

S&P
Daily UT, Weekly UT

Potential resistance around 6,045

Potential support around 5,809, 5,574, 5,338, 5,103

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 2,430, 2,561

Potential support around 2,300, 2,170, 2,040, 1,910, 1,779

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

11 Nov, Mon

• No important data

12 Nov, Tue

• 1500 UK Employment Change 3M/3M (MoM) (Sep)
• 1500 UK Unemployment Rate (Sep)
• 1500 Germany CPI (MoM) (Oct)\
• 1800 Germany ZEW Economic Sentiment (Nov)
• 1800 Europe ZEW Economic Sentiment (Nov)

13 Nov, Wed

• 2130 US Core CPI (MoM) (Oct)
• 2130 US CPI (MoM) (Oct)

14 Nov, Thu

• 0830 Australia Employment Change (Oct)
• 0830 Australia Unemployment Rate (Oct)
• 1800 Europe GDP (QoQ) (Q3)
• 2130 US Initial Jobless Claims
• 2130 US PPI (MoM) (Oct)

15 Nov, Fri

• 0000 US Crude Oil Inventories
• 0400 US Fed Chair Powell Speaks 
• 0750 Japan GDP (QoQ) (Q3)  
• 1000 China Industrial Production (YoY) (Oct)
• 1000 China Chinese Unemployment Rate (Oct)
• 1500 UK GDP (QoQ) (Q3)
• 2130 US Core Retail Sales (MoM) (Oct)
• 2130 US Retail Sales (MoM) (Oct)
• 2130 US NY Empire State Manufacturing Index (Nov)