US Markets 16 Nov 24

The US market broke the previous week's high and reversed to close lower.  

BDI, Harpex, CDFI and CCFI closed higher.

The dollar index rallied and closed higher. It tested 106.7 resistance but failed to hold.

Watch out for

• Manufacturing PMI, Services PMI and CPI 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 

• 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 21,431

Potential support around 20,709, 19,986, 19,264, 18,542, 17,819

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)

18 Nov, Mon

• No important data

19 Nov, Tue

• 0830 Australia RBA Meeting Minutes
• 1800 Europe CPI (YoY) (Oct)
• 1800 Europe Core CPI (YoY) (Oct)
• 2130 US Building Permits (Oct)
• 2130 US Housing Starts (Oct)
• 2130 Canada CPI (MoM) (Oct)
• 2130 Canada Core CPI (MoM) (Oct)

20 Nov, Wed

• 0915 China PBoC Loan Prime Rate
• 1500 UK CPI (YoY) (Oct)
• 2330 US Crude Oil Inventories

21 Nov, Thu

• 2130 US Initial Jobless Claims
• 2130 US Philadelphia Fed Manufacturing Index (Nov)
• 2300 US Existing Home Sales (Oct)

22 Nov, Fri

• 0730 Japan National Core CPI (YoY) (Oct)
• 1500 UK Core Retail Sales (MoM) (Oct)
• 1500 UK Retail Sales (MoM) (Oct)
• 1500 Germany GDP (QoQ) (Q3)
• 1630 Germany HCOB Manufacturing PMI (Nov) 
• 1630 Germany HCOB Services PMI (Nov)  
• 1700 Europe HCOB Manufacturing PMI (Nov) 
• 1700 Europe HCOB Services PMI (Nov)  
• 1730 UK S&P Global/CIPS UK Manufacturing PMI (Nov)  
• 1730 UK S&P Global/CIPS UK Services PMI (Nov)  
• 2130 Canada Retail Sales (MoM) (Sep)
• 2245 US S&P Global US Manufacturing PMI (Nov)  
• 2245 US S&P Global Services PMI (Nov)  
• 2300 US Michigan Consumer Sentiment (Nov)