Dollar Index closed higher

The dollar index continued to close higher after last week's broke out.
Resistance at 106.7, TLU2, 109.7
Support at TLD2, 103.6, 102.3, TLU1, TLD1, 100.3

COT for Dollar Index

Weekly chart with 50 SMA

Commodities Update 30 Mar 2024

BDI closed lower from 2,196 (22 Mar) to 1,821 (28 Mar)

Harpex closed higher from 1,216 (22 Mar) to 1,220 (29 Mar)

CDFI closed lower from 1,384.66 (22 Mar) to 1,252.27 (29 Mar)

CCFI closed lower from 1,244.83 (22 Mar) to 1,208.42 (29 Mar)

COT     

Download Commodities COT

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

• Corn
• Soybean Meal
• Soybeans 
• Wheat

Neutral

• Platinum

Up Trend

• Sugar
• Orange Juice
• Palladium

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

• None

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 30 Mar 24

The US market closed higher, except the Nasdaq closed lower. The Dow and S&P closed at historic highs, while the Nasdaq consolidated.

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

The dollar index continued to close higher after last week's broke out.

Watch out for

• Short trading week for most countries
• Manufacturing PMI, Services PMI by multiple countries
• Speech by US Fed Chair Powell
• US Nonfarm Payrolls

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 

• Dow

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 41,884

Potential support around 39,754, 37,625, 35,495, 33,365, 31,236

S&P
Daily UT, Weekly UT

Potential resistance around 5,338

Potential support around 5,103, 4,867, 4,632, 4,396, 4,161

Nasdaq
Daily UT, Weekly UT

Potential resistance around 18,542

Potential support around 17,819, 17,097, 16,374, 15,652

Russell
Daily UT, Weekly UT
Potential resistance around 2,170, 2,300

Potential support around 2,040, 1,910, 1,779, 1,649, 1,519

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

01 Apr, Mon

• Australia, Hong Kong and most European countries are having holiday
• 0750 Japan Tankan Large Manufacturers Index (Q1)
• 0945 China Caixin Manufacturing PMI (Mar)
• 2145 US S&P Global US Manufacturing PMI (Mar)
• 2200 US ISM Manufacturing PMI (Mar)

02 Apr, Tue

• 0830 Australia RBA Meeting Minutes 
• 1555 German HCOB Manufacturing PMI (Mar) 
• 1630 UK S&P Global/CIPS UK Manufacturing PMI (Mar)
• 2000 German CPI (MoM) (Mar)
• 2200 US JOLTs Job Openings (Feb)

03 Apr, Wed

• 0945 China Caixin Services PMI (Mar)
• 1700 Europe CPI (YoY) (Mar) 
• 2015 US ADP Nonfarm Employment Change (Mar)
• 2145 US S&P Global Services PMI (Mar)
• 2200 US ISM Non-Manufacturing PMI (Mar)
• 2230 US Crude Oil Inventories

04 Apr, Thu

• China and Hong Kong on holiday
• 0010 US Fed Chair Powell Speaks 
• 1555 German HCOB Services PMI (Mar)
• 1600 Europe HCOB Services PMI (Mar)
• 1630 UK S&P Global/CIPS UK Services PMI (Mar)
• 2030 US Initial Jobless Claims

05 Apr, Fri

• China on holiday
• 2030 US Average Hourly Earnings (MoM) (Mar)
• 2030 US Nonfarm Payrolls (Mar)
• 2030 US Unemployment Rate (Mar)
• 2200 Canada Ivey PMI (Mar)

Dollar Index broke resistance

The dollar index broke lower-high formation, 103.6 and TLD2 resistance and closed higher.
Resistance at 106.7, TLU2, 109.7
Support at TLD2, 103.6, 102.3, TLU1, TLD1, 100.3

COT for Dollar Index

Weekly chart with 50 SMA

Commodities Update 23 Mar 2024

BDI closed lower from 2,374 (15 Mar) to 2,196 (22 Mar)

Harpex closed higher from 1,202 (15 Mar) to 1,216 (22 Mar)

CDFI closed lower from 1,400.97 (15 Mar) to 1,384.66 (22 Mar)

CCFI closed lower from 1,278.28 (15 Mar) to 1,244.83 (22 Mar)

COT     

Download Commodities COT

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

• Corn
• Soybean Oil
• Soybean Meal
• Soybeans (1)
• Wheat
• Platinum

Neutral

• None

Up Trend

• Sugar (1)
• Orange Juice
• Palladium

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

• None

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 23 Mar 24

The US market closed higher. The Dow, S&P and Nasdaq closed at historic highs.
The Dow, Nasdaq and Russell are consolidating.

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

The dollar index broke lower-high formation, 103.6 and TLD2 resistance and closed higher.

Watch out for

• Short trading week for most countries
• US and UK GDP
• Speech by Fed Chair Powell Speaks

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 

• S&P

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 39,754, 41,884

Potential support around 37,625, 35,495, 33,365, 31,236

S&P
Daily UT, Weekly UT

Potential resistance around 5,338

Potential support around 5,103, 4,867, 4,632, 4,396, 4,161

Nasdaq
Daily UT, Weekly UT

Potential resistance around 18,542

Potential support around 17,819, 17,097, 16,374, 15,652

Russell
Daily UT, Weekly UT
Potential resistance around 2,040, 2,170, 2,300

Potential support around 1,910, 1,779, 1,649, 1,519

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

25 Mar, Mon

• 2200 US New Home Sales (Feb)

26 Mar, Tue

• 2030 US Durable Goods Orders (MoM) (Feb)
• 2200 US CB Consumer Confidence (Mar)

27 Mar, Wed

• 2230 US Crude Oil Inventories

28 Mar, Thu

• 1500 UK GDP (YoY) (Q4)
• 2030 US GDP (QoQ) (Q4)
• 2030 US Initial Jobless Claims
• 2145 US Chicago PMI (Mar)

29 Mar, Fri

• 2030 US Core PCE Price Index (MoM) (Feb)
• 2330 US Fed Chair Powell Speaks