US Markets 29 Nov 25

The US market broke the previous week's high and closed higher. The Dow and S&P closed at a historic high on the weekly chart.

BDI closed higher from 2,275 (21 Nov) to 2,560 (28 Nov)

Harpex remained the same at 2,184 (28 Nov)

CDFI continued to close higher from 1,181.54 (21 Nov) to 1,209.94 (28 Nov)

CCFI reversed to close lower from 1,122.79 (21 Nov) to 1,121.8 (28 Nov)

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

Watch out for

• Manufacturing and services PMI data from multiple countries
• Speech by Fed Chair Powell

The release of the COT data has resumed. They are clearing the backlog due to the US government shutdown.  There will be no COT update till the released data is up to date.

Dow
Daily UT, Weekly UT
Potential resistance around 48,273

Potential support around 46,144, 44,014, 41,884

S&P
Daily UT, Weekly UT

Potential resistance around 6,987

Potential support around 6,751, 6,516, 6,280, 6,045

Nasdaq
Daily UT, Weekly UT

Potential resistance around 25,766, 26,488

Potential support around 25,043, 24,321, 23,598

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

Potential support around 2,430, 2,300, 2,170

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

01 Dec, Mon

• 0945 China Caixin Manufacturing PMI (MoM) (Nov)
• 1655 Germany HCOB Manufacturing PMI (Nov)
• 1700 Europe HCOB Manufacturing PMI (Nov)
• 1730 UK S&P Global Manufacturing PMI (Nov)
• 2245 US Chicago PMI (Dec)
• 2245 US S&P Global Manufacturing PMI (Nov)
• 2300 US ISM Manufacturing PMI (Nov)

02 Dec, Tue

• 0830 Australia Building Approvals (MoM) (Oct)
• 0900 US Fed Chair Powell Speaks
• 1500 UK Nationwide HPI (MoM) (Nov)
• 1500 UK Nationwide HPI (YoY) (Nov)
• 1800 Europe Core CPI (YoY) (Nov)  
• 1800 Europe CPI (YoY) (Nov)  
• 1800 Europe Unemployment Rate (Oct)

03 Dec, Wed

• 0830 Australia GDP (QoQ) (Q3)
• 0830 Australia GDP (YoY) (Q3)
• 0945 China Caixin Services PMI (Nov)
• 1655 Germany HCOB Services PMI (Nov)
• 1700 Europe HCOB Services PMI (Nov)
• 2115 US ADP Nonfarm Employment Change (Nov)
• 2245 US S&P Global Services PMI (Nov)
• 2300 US ISM Non-Manufacturing PMI (Nov)
• 2330 US Crude Oil Inventories

04 Dec, Thu

• 2130 US Initial Jobless Claims
• 2300 Canada Ivey PMI (Nov)

05 Dec, Fri

• 1800 Europe GDP (QoQ) (Q3)
• 2130 Canada Employment Change (Nov)
• 2130 Canada Unemployment Rate (Nov)
• 2300 US Core PCE Price Index (MoM) (Sep)
• 2300 US Michigan Consumer Sentiment (Dec)