US Markets 01 Feb 25

The US market closed lower with a +roc (closing price > opening price) on the weekly chart, except Russell closed lower with a small -roc (closing price < opening price).

While BDI, CDFI and Harpex closed lower, CCFI remained unchanged due to China's long holiday.

The dollar index closed higher with an inside day on the weekly chart.

Watch out for

• Interest Rate Decision by UK
• Manufacturing and Services PMI data by multiple countries.
• US NFP

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 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, 6,280

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 DT, 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)

03 Feb, Mon

• China on holiday
• 0830 Australia Retail Sales (MoM) (Dec)
• 0945 China Caixin Manufacturing PMI (Jan)
• 1655 Germany HCOB Manufacturing PMI (Jan)
• 1700 Europe HCOB Manufacturing PMI (Jan)
• 1730 UK S&P Global Manufacturing PMI (Jan)
• 1800 Europe CPI (YoY) (Jan)  
• 2245 US S&P Global Manufacturing PMI (Jan)
• 2300 US ISM Manufacturing PMI (Jan)

04 Feb, Tue

• 2300 US JOLTS Job Openings (Dec)

05 Feb, Wed

• 1655 Germany HCOB Services PMI (Jan)
• 1700 Europe HCOB Services PMI (Jan)
• 1730 UK S&P Global Services PMI (Jan)
• 2115 US ADP Nonfarm Employment Change (Jan)
• 2245 US S&P Global Services PMI (Jan)
• 2300 US ISM Non-Manufacturing PMI (Jan)
• 2330 US Crude Oil Inventories

06 Feb, Thu

• New Zealand on holiday
• 2000 UK BoE Interest Rate Decision (Feb)
• 2000 UK BoE MPC Meeting Minutes 
• 2130 US Initial Jobless Claims
• 2300 Canada Ivey PMI (Jan)

07 Feb, Fri

• 2130 US Nonfarm Payrolls (Jan)
• 2130 US Unemployment Rate (Jan)
• 2130 Canada Employment Change (Jan)
• 2130 Canada Unemployment Rate (Jan)
• 2300 US Michigan Consumer Sentiment (Feb)