US Markets 07 Mar 26

The US market broke the previous week's low and closed lower. The daily trend of Dow and S&P turned neutral.

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

The dollar index broke out of its consolidation and rallied.

Watch out for

• US trading time will be one hour earlier (Singapore Time Zone).
• CPI data from multiple countries.

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 Neutral, Weekly UT

Potential resistance around 48,273, 50,403

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

S&P
Daily Neutral, Weekly UT

Potential resistance around 6,751, 6,987, 7,222

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

Nasdaq
Daily DT, Weekly UT

Potential resistance around 25,043, 25,766, 26,488

Potential support around 24,321, 23,598, 22,876

Russell
Daily UT, Weekly UT
Potential resistance around 2,561, 2,691, 2,821

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

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

09 Mar, Mon

• 0930 China CPI (MoM) (Feb)
• 0930 China CPI (YoY) (Feb)

10 Mar, Tue

• 0750 Japan GDP (QoQ) (Q4)
• 2200 US Existing Home Sales (Feb)

11 Mar, Wed

• 1500 Germany CPI (MoM) (Feb)
• 2030 US CPI (MoM) (Feb)
• 2030 US Core CPI (MoM) (Feb)
• 2230 US Crude Oil Inventories

12 Mar, Thu

• 0100 US 10-Year Note Auction
• 2030 US Initial Jobless Claims
• 2030 US Housing Starts (Jan)

13 Mar, Fri

• 0101 US 30-Year Bond Auction
• 1500 UK GDP (MoM) (Jan)
• 2200 US JOLTS Job Openings (Jan)
• 2200 US Michigan Consumer Sentiment (Mar)