US Markets 14 Dec 24

The US market closed lower, except the Nasdaq closed higher and created a historic high.

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

The dollar index broke the previous week's high and closed higher. 

Watch out for

• Manufacturing PMI, Services PMI and CPI data by multiple countries
• China, the US, Japan, and the UK Interest rate decisions

I will take a break; this update will be the last for 2024. 

The next update will resume on 11 Jan 2025.

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
• Nasdaq
• 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

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 2,430, 2,561, 2,691

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

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

16 Dec, Mon

• 1000 China Industrial Production (YoY) (Nov)
• 1000 China Chinese Unemployment Rate (Nov)
• 1630 Germany HCOB Manufacturing PMI (Dec)  
• 1630 Germany HCOB Services PMI (Dec)  
• 1700 Europe HCOB Manufacturing PMI (Dec)  
• 1700 Europe HCOB Services PMI (Dec) 
• 1730 UK S&P Global/CIPS UK Manufacturing PMI (Dec) 
• 1730 UK S&P Global/CIPS UK Services PMI (Dec)  
• 2245 US S&P Global US Manufacturing PMI (Dec)  
• 2245 US S&P Global Services PMI (Dec)  

17 Dec, Tue

• 1500 UK Unemployment Rate (Oct)
• 1500 UK Employment Change 3M/3M (MoM) (Oct)
• 1800 Germany ZEW Economic Sentiment (Dec)
• 2130 US Core Retail Sales (MoM) (Nov)
• 2130 US Retail Sales (MoM) (Nov)
• 2130 Canada Core CPI (MoM) (Nov)
• 2130 Canada CPI (MoM) (Nov)

18 Dec, Wed

• 1500 UK CPI (YoY) (Nov)
• 1800 Europe Core CPI (YoY) (Nov)
• 1800 Europe CPI (YoY) (Nov)
• 2130 US Building Permits (Nov)  
• 2330 US Crude Oil Inventories

19 Dec, Thu

• 0300 US Fed Interest Rate Decision
• 0330 US FOMC Press Conference  
• 1100 Japan BoJ Interest Rate Decision
• 2000 UK BoE Interest Rate Decision (Dec)
• 2130 US GDP (QoQ) (Q3)
• 2130 US Initial Jobless Claims
• 2130 US Philadelphia Fed Manufacturing Index (Dec)
• 2300 US Existing Home Sales (Nov)

20 Dec, Fri

• 0730 Japan National Core CPI (YoY) (Nov)
• 0730 Japan National CPI (YoY) (Nov)
• 0915 China PBoC Loan Prime Rate
• 1500 UK Core Retail Sales (MoM) (Nov)
• 1500 UK Retail Sales (MoM) (Nov)
• 2130 US Core PCE Price Index (MoM) (Nov)
• 2130 US PCE Price Index (MoM) (Nov)
• 2130 US Personal Spending (MoM) (Nov)
• 2130 Canada Core Retail Sales (MoM) (Oct)
• 2130 Canada Retail Sales (MoM) (Oct)
• 2300 US Michigan Consumer Sentiment (Dec)