US Markets 07 Dec 24

The US market closed mixed. While the Dow and Russell closed lower, the S&P and Nasdaq broke consolidation resistance and created historic highs.

While Harpex closed higher, BDI continued to slump, and CDFI and CCFI closed lower.

The dollar index closed broke the previous week's low and recovered to close higher. 

Watch out for

• CPI data by multiple countries
• GDP by Japan and the UK
• Interest rate decisions by Australia, Canada, Europe and Switzerland

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 6,280

Potential support around 6,045, 5,809, 5,574, 5,338

Nasdaq
Daily UT, Weekly UT

Potential resistance around 22,154

Potential support around 21,431, 20,709, 19,986, 19,264, 18,542

Russell
Daily UT, Weekly UT
Potential resistance around 2,561, 2,691

Potential support around 2,430, 2,300, 2,170, 2,040, 1,910

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

09 Dec, Mon

• 0750 Japan GDP (QoQ) (Q3)
• 0930 China CPI (MoM) (Nov)
• 0930 China PPI (YoY) (Nov)

10 Dec, Tue

• 1130 Australia RBA Interest Rate Decision (Dec)
• 1500 Germany CPI (MoM) (Nov)

11 Dec, Wed

• 2130 US Core CPI (MoM) (Nov)
• 2130 US CPI (MoM) (Nov)
• 2245 Canada BoC Interest Rate Decision
• 2330 US Crude Oil Inventories

12 Dec, Thu

• 0200 US 10-Year Note Auction
• 0830 Australia Employment Change (Nov)
• 0830 Australia Unemployment Rate (Nov)
• 1630 Switzerland SNB Interest Rate Decision (Q4)
• 2115 Europe Deposit Facility Rate (Dec)
• 2115 Europe ECB Interest Rate Decision (Dec)
• 2130 US Initial Jobless Claims
• 2130 US PPI (MoM) (Nov)
• 2145 Europe ECB Press Conference

13 Dec, Fri

• 1500 UK GDP (MoM) (Oct)