US Market 01 Feb 2020

On the weekly chart, the US market broke hlf and closed lower with a -roc except for Nasdaq closed with a +roc.

BDI and Harpex closed lower.

Dollar Index broke support and closed lower.

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 is based on 50 Simple Moving Average 

Dow

Daily UT, Weekly UT
Potential resistance around 28,730, 29,106, 29,407, 31,236, 33,365

Potential support around 28,195, 27,350, 26,976, 26,627, 26,245, 25,784

S&P
Daily UT, Weekly UT

Potential resistance around 3,256, 3,326, 3,454, 3,690

Potential support around 3,249, 3,219, 3,155, 3,072, 3,022, 2,983, 2,940, 2,874

Nasdaq
Daily UT, Weekly UT

Potential resistance around 9,166, 9,243, 9,873

Potential support around 8,954, 8,781, 8,428, 8,196, 8,002, 7,859, 7,706, 7,516

Russell
Daily UT, Weekly UT
Potential resistance around 1,624, 1,649, 1,683, 1,708, 1,743, 1,779, 1910

Potential support around 1,609, 1,585, 1,543, 1,519, 1,508, 1,451, 1,420

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

03 Feb, Mon

• 0945 China Caixin Manufacturing PMI (Jan) 
• 1655 German Manufacturing PMI (Jan)
• 1730 UK Manufacturing PMI (Jan)
• 2300 US ISM Manufacturing PMI (Jan)

04 Feb, Tue

• 1130 Australia RBA Interest Rate Decision (Feb)
• 1130 Australia RBA Rate Statement  
• 1730 UK Construction PMI (Jan)

05 Feb, Wed

• 0545 New Zealand Employment Change (QoQ) (Q4)
• 0930 Australia RBA's Governor Lowe speech
• 1730 UK Composite PMI (Jan)
• 1730 UK Services PMI (Jan)
• 2115 US ADP Nonfarm Employment Change (Jan)
• 2130 US Trade Balance
• 2300 US ISM Non-Manufacturing PMI (Jan)
• 2330 US Crude Oil Inventories 

06 Feb, Thu

• New Zealand Holiday
• 0830 Australia Retail Sales (MoM) (Dec) 

07 Feb, Fri

• 0630 Australia RBA's Governor Lowe speech
• 0830 Australia RBA Monetary Policy Statement
• 2130 US Nonfarm Payrolls (Jan)
• 2130 US Unemployment Rate (Jan)
• 2130 Canada Employment Change (Jan) 
• 2300 Canada Ivey PMI (Jan)