US Markets 24 Jan 26

The US market closed lower. The S&P and Nasdaq are consolidating.

While BDI and CDFI reversed to close higher, CCFI reversed to close lower, and Harpex closed higher.

The dollar index broke its previous week's high, reversed, and slumped, forming an outside day on the weekly chart.

Watch out for

• Interest rate decision by Canada and the US
• China NBS Manufacturing and Non-Manufacturing PMI

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 50,403

Potential support around 48,273, 46,144, 44,014

S&P
Daily UT, Weekly UT

Potential resistance around 6,987, 7,222

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

Nasdaq
Daily Neutral, Weekly UT

Potential resistance around 25,766, 26,488

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

Russell
Daily UT, Weekly UT
Potential resistance around 2,691, 2,821

Potential support around 2,561, 2,430, 2,300

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

26 Jan, Mon

• Australia on holiday
• 2130 US Core Durable Goods Orders (MoM) (Nov)
• 2130 US Durable Goods Orders (MoM) (Nov) 

27 Jan, Tue

• No important event

28 Jan, Wed

• 0750 Japan Monetary Policy Meeting Minutes
• 0830 Australia CPI (YoY) (Q4)
• 2245 Canada BoC Interest Rate Decision 
• 2330 Canada BOC Press Conference  
• 2330 US Crude Oil Inventories

29 Jan, Thu

• 0300 US Fed Interest Rate Decision  
• 0330 US FOMC Press Conference
• 2130 US Initial Jobless Claims

30 Jan, Fri

• 0730 Japan Tokyo Core CPI (YoY) (Jan)
• 0730 Japan Industrial Production (MoM) (Dec)
• 1700 Germany GDP (QoQ) (Q4)
• 1800 Europe GDP (QoQ) (Q4)
• 2100 Europe German CPI (MoM) (Jan)
• 2130 US PPI (MoM) (Dec)
• 2130 US Core PPI (MoM) (Dec)
• 2130 Canada GDP (MoM) (Nov)
• 2245 US Chicago PMI  (Jan)

31 Jan,  Sat

• 0930 China NBS Manufacturing PMI (Jan)
• 0930 China NBS Non-Manufacturing PMI (Jan)