US Markets 07 Nov 26

The US market closed lower. The Dow and Russell closed with an outside day on the weekly chart.

The dollar index closed higher, above the 200-period MA on the weekly chart. The dollar index is consolidating.

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

Watch out for

• China and US CPI data

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 

• Dow
• Nasdaq

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 52,533, 54,662, 56,792

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

S&P
Daily DT, Weekly UT

Potential resistance around 7,458, 7,693, 7,929

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

Nasdaq
Daily DT, Weekly UT

Potential resistance around 27,210, 27,933, 28,655

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

Russell
Daily DT Weekly UT

Potential resistance around 2,821, 2,951, 3,081

Potential support around 2,691, 2,561, 2,430

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

09 Nov, Mon

• 0930 China CPI (MoM) (Oct)

10 Nov, Tue

• 2115 US ADP Employment Change Weekly
• 2130 US CPI (MoM) (Oct)
• 2130 US Core CPI (MoM) (Oct)

11 Nov, Wed

• 0200 US 10-Year Note Auction  

12 Nov, Thu

• 1500 UK GDP (YoY) (Q3) ^P
• 1500 UK GDP (QoQ) (Q3) ^P
• 2130 US Initial Jobless Claims
• 2300 US Existing Home Sales  (Oct)

13 Nov, Fri

• 0100 US Crude Oil Inventories
• 0200 US 30-Year Bond Auction
• 1800 Europe GDP (YoY) (Q3) ^P
• 2130 US PPI (MoM) (Oct)

^P: Preliminary Release