US Markets 18 Jan 25

The US market broke the previous week's low and recovered to close higher. The Dow closed with an outside day on the weekly chart.

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

The dollar index tested TLU2 and 109.7 resistance and closed lower with a -roc (closing price < opening price) on the weekly chart.

Watch out for

• CPI, Manufacturing PMI and Services PMI data by multiple countries
• Japan 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 

• None

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 6,045

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

Nasdaq
Daily UT, Weekly UT

Potential resistance around 22,154 

Potential support around 21,431, 20,709, 19,986, 19,264, 18,542, 17,819

Russell
Daily Neutral, Weekly UT
Potential resistance around 2,300, 2,430, 2,561, 2,691

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

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

20 Jan, Mon

• US on holiday

21 Jan, Tue

• US Inauguration Day
• 1500 UK Claimant Count Change (Dec)
• 1500 UK Unemployment Rate (Nov)
• 1800 Germany ZEW Economic Sentiment (Jan)
• 1800 Europe ZEW Economic Sentiment (Jan)
• 2130 Canada Core CPI (MoM) (Dec)
• 2130 Canada CPI (MoM) (Dec)

22 Jan, Wed

• 0545 New Zealand CPI (YoY) (Q4)

23 Jan, Thu

• 2130 US Initial Jobless Claims
• 2130 Canada Retail Sales (MoM) (Nov)
• 2130 Canada Core Retail Sales (MoM) (Nov)

24 Jan, Fri

• 0100 US Crude Oil Inventories
• 0730 Japan National CPI (MoM) (Dec)
• 0730 Japan National Core CPI (MoM) (Dec)
• 1100 Japan BoJ Interest Rate Decision
• 1430 Japan BoJ Press Conference 
• 1630 Germany HCOB Manufacturing PMI  
• 1630 Germany HCOB Services PMI 
• 1700 Europe HCOB Manufacturing PMI  
• 1700 Europe HCOB Services PMI 
• 1725 UK S&P Global Manufacturing PMI (Jan) 
• 1730 UK S&P Global Services PMI (Jan)   
• 2245 US S&P Global Manufacturing PMI (Jan) 
• 2245 US S&P Global Services PMI (Jan)   
• 2300 US Existing Home Sales (Dec)
• 2300 US Michigan Consumer Sentiment (Jan)