US Markets 28 Mar 26

On the weekly chart, the US market slumped, except for the Russell, which closed higher.

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

The dollar index consolidated and closed higher.

Watch out for

• Short trading week for most of the markets
• Speech by US Fed Chair Powell
• Manufacturing PMI data from multiple countries
• US NFP

Instruments that show buying interest (3) from Dealer/Intermediary (sell-side participants)

UT 

• None

Neutral 

• None

DT 

• Nasdaq

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 DT, Weekly UT

Potential resistance around 46,144, 48,273, 50,403

Potential support around 44,014, 41,884, 39,754

S&P
Daily DT, Weekly UT

Potential resistance around 6,516, 6,751, 6,987

Potential support around 6,280, 6,045, 5,809

Nasdaq
Daily DT, Weekly UT

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

Potential support around  22,876, 22,154, 21,431

Russell
Daily DT, 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)

30 Mar, Mon

• 2000 Germany CPI (MoM) (Mar)
• 2230 US Fed Chair Powell Speaks

31 Mar, Tue

• 0830 Australia RBA Meeting Minutes
• 0930 China Manufacturing PMI (Mar)
• 1400 UK GDP (YoY) (Q4)
• 1700 Europe CPI (YoY) (Mar)
• 1700 Europe Core CPI (YoY) (Mar)
• 2030 Canada GDP (MoM) (Jan)
• 2145 US Chicago PMI (Mar)
• 2200 US CB Consumer Confidence (Mar)
• 2200 US JOLTS Job Openings (Feb)

01 Apr, Wed

• 1555 Germany HCOB Manufacturing PMI (Mar)
• 1600 Europe HCOB Manufacturing PMI (Mar)
• 1630 UK S&P Global Manufacturing PMI (Mar)
• 2015 US ADP Nonfarm Employment Change (Mar)
• 2030 US Retail Sales (MoM) (Feb)
• 2030 US Core Retail Sales (MoM) (Feb)
• 2200 US ISM Manufacturing PMI (Mar)
• 2230 US Crude Oil Inventories

02 Apr, Thu

• 2030 US Initial Jobless Claims

03 Apr, Fri

• Australia, Canada, Germany, Hong Kong, Switzerland, the UK and the US are on holiday
• 2030 US Nonfarm Payrolls (Mar)
• 2030 US Unemployment Rate (Mar)
• 2145 US S&P Global Services PMI (Mar)