US Markets 23 Nov 24

The US market closed higher while consolidating.
The Dow and Russell broke the previous week's low and reversed to close at the historic high. The S&P and Nasdaq closed with an inside day on the weekly chart.

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

The dollar index broke the 106.7 resistance and closed higher. 

Watch out for

• US short trading week 
• US FOMC Meeting Minutes
• New Zealand RBNZ 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
• 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 46,144

Potential support around 44,014, 41,884, 39,754, 37,625, 35,495

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)

25 Nov, Mon

• 0545 New Zealand Retail Sales (QoQ)
• 1700 Germany Ifo Business Climate Index (Nov)

26 Nov, Tue

• 2300 US CB Consumer Confidence (Nov)
• 2300 US New Home Sales (Oct)

27 Nov, Wed

• 0300 US FOMC Meeting Minutes
• 0900 New Zealand RBNZ Interest Rate Decision
• 2130 US Durable Goods Orders (MoM) (Oct) 
• 2130 US GDP (QoQ) (Q3) 
• 2130 US Initial Jobless Claims
• 2245 US Chicago PMI (Nov)
• 2300 US Core PCE Price Index (MoM) (Oct)
• 2300 US Core PCE Price Index (YoY) (Oct)
• 2330 US Crude Oil Inventories

28 Nov, Thu

• US on holiday
• 2100 German CPI (MoM) (Nov) 

29 Nov, Fri

• US on holiday - Market close early
• 1500 Germany Retail Sales (MoM) (Oct)
• 1655 Germany Unemployment Change (Nov)
• 1655 Germany Unemployment Rate (Nov)
• 1800 Europe CPI (YoY) (Nov) 
• 2130 Canada GDP (QoQ) (Q3)