Dollar Index recovered to consolidation range

The dollar index broke the previous week's low and recovered to the consolidation range.
Resistance at TLU2, 106.7, TLU1, 109.7
Support at 103.6, 102.3, TLD1, 100.3, 99.8

COT for Dollar Index

There will be no update on COT this week due to the delayed release date due to a Federal holiday

Weekly chart with 50 SMA

US Markets 11 Nov 23

The US market continues to close higher, except Russell closed lower with an inside day on the weekly chart.

BDI rebounded from 1,462 (03 Nov) to 1,643 (10 Nov)

Harpex closed lower, from 873 (03 Nov) to 845 (10 Nov)

CDFI rebounded from 1,042.47 (03 Nov) to 1,107.04 (10 Nov)

CCFI rebounded from 827.84 (03 Nov) to 843.77(10 Nov)

The dollar index broke the previous week's low and recovered to the consolidation range.

Watch out for

• CPI and Retail Sales data by multiple countries

There will be no update on COT this week due to the delayed release date due to a Federal holiday.

Dow

Daily DT, Weekly DT
Potential resistance around 35,495, 37,625, 39,754

Potential support around 33,365, 31,236, 29,106, 26,976

S&P
Daily DT, Weekly DT

Potential resistance around 4,632, 4,867, 5,103

Potential support around 4,396, 4,161, 3,925, 3,690, 3,454

Nasdaq
Daily Neutral, Weekly DT

Potential resistance around  15,652, 16,374, 17,097

Potential support around 14,930, 14,207, 13,485, 12,762, 12,040

Russell
Daily DT, Weekly DT
Potential resistance around 1,779, 1,910, 2,040, 2,170, 2,300

Potential support around 1,649, 1,519, 1,389, 1,2591

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

13 Nov, Mon

• No important data

14 Nov, Tue

• 1500 UK Unemployment Rate (Sep)
• 1800 Europe Employment Change QoQ (Q3) 
• 1800 German ZEW Economic Sentiment Index (Nov)
• 2130 US Core CPI (MoM) (Oct)
• 2130 US CPI (MoM) (Oct)

15 Nov, Wed

• 0750 Japan GDP (QoQ) (Q3) 
• 1000 China Unemployment Rate (Oct) 
• 1000 China Retail Sales YoY (Oct)
• 1000 China Industrial Production YoY (Oct)
• 1500 UK CPI (YoY) (Oct)
• 2130 US Core Retail Sales (MoM) (Oct)
• 2130 US Retail Sales (MoM) (Oct)
• 2130 US PPI (MoM) (Oct)
• 2130 US NY Empire State Manufacturing Index (Nov)
• 2330 US Crude Oil Inventories

16 Nov, Thu

• 0830 Australia Employment Change (Oct)
• 0830 Australia Unemployment Rate (Oct)
• 2130 US Initial Jobless Claims
• 2130 US Philadelphia Fed Manufacturing Index (Nov)

17 Nov, Fri

• 1500 UK Retail Sales MoM (Oct)
• 1800 Europe CPI (YoY) (Oct)
• 2130 US Building Permits (Oct) 

Dollar Index broke consolidation support

The dollar index broke consolidation support and closed lower.
Resistance at TLU2, 106.7, TLU1, 109.7
Support at 103.6, 102.3, TLD1, 100.3, 99.8

COT for Dollar Index

Weekly chart with 50 SMA

Commodities Update 04 Nov 2023

BDI closed lower, from 1,563 (27 Oct) to 1,462 (03 Nov)

Harpex closed lower, from 884 (27 Oct) to 873 (03 Nov)

CDFI closed lower, from 1,107.13 (27 Oct) to 1,042.47 (03 Nov)

CCFI closed higher, from 811.5 (27 Oct) to 827.84 (03 Nov)

COT     

Download Commodities COT

Instruments that show buying interest (3) by Producer/Merchant/Processor/User
Down Trend

• Wheat (1)
• Corn (1)
• Soybeans (1)
• Copper
• Palladium
• Gasoline
• Feeder Cattle

Neutral

• Platinum

Up Trend

• None

Instruments that show selling interest at extreme (2) only by Producer/Merchant/Processor/User
Up Trend

• Natural Gas

Neutral

• None

Down Trend

• 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 a trend reversal
Down Trend and Up Trend are based on 50 Simple Moving Averages.

US Markets 04 Nov 2023

The US market broke the lower-high formation on the weekly chart and closed high. Russell closed with an outside day on the weekly chart. 

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

The dollar index broke consolidation support and closed lower.

The daylight saving ended on 05 Nov 2023.

Watch out for

• Australia RBA Interest Rate Decision
• Speech by US Fed Chair Powell
• China CPI data

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

UT 

• None

Neutral 

• None

DT 

• Dow (1)

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 35,495, 37,625, 39,754

Potential support around 33,365, 31,236, 29,106, 26,976

S&P
Daily DT, Weekly UT

Potential resistance around 4,396, 4,632, 4,867

Potential support around 4,161, 3,925, 3,690, 3,454

Nasdaq
Daily DT, Weekly UT

Potential resistance around 14,930, 15,652, 16,374

Potential support around 14,207, 13,485, 12,762, 12,040, 11,318

Russell
Daily DT, Weekly DT
Potential resistance around 1,779, 1,910, 2,040, 2,170

Potential support around 1,649, 1,519, 1,389, 1,259

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

06 Nov, Mon

• 1655 German HCOB Services PMI (Oct)
• 1700 Europe HCOB Services PMI (Oct)
• 2300 Canada Ivey PMI s.a (Oct)

07 Nov, Tue

• 1130 Australia RBA Interest Rate Decision (Nov)

08 Nov, Wed

• 1500 German CPI (MoM) (Oct)
• 1800 Europe Retail Sales MoM (Sep)
• 2215 US Fed Chair Powell Speaks
• 2330 US Crude Oil Inventories

09 Nov, Thu

• 0930 China CPI (MoM) (Oct)
• 2130 US Initial Jobless Claims

10 Nov, Fri

• 0300 US Fed Chair Powell Speaks
• 1500 UK GDP (QoQ) (Q3)  
• 2300 US Michigan Consumer Sentiment (Nov) 

Dollar Index closed higher

The dollar index closed higher while consolidating.
Resistance at TLU2, 106.7, TLU1, 109.7
Support at 103.6, TLD1,102.3, 100.3, 99.8

COT for Dollar Index

Weekly chart with 50 SMA