US Market 29 Feb 2020

On the weekly chart, US market broke hlf,  slammed down tested Aug 2019 support level and recovered some of the losses before closing.  Nasdaq broke hlf, slammed down tested Jul 2019 resistance and recovered some of the losses.

BDI closed higher, Harpex closed lower.

Dollar Index broke support.

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 Neutral, Weekly UT
Potential resistance around 25,784, 26,245, 26,627, 26,976, 27,350, 28,195, 28,730, 29,106

Potential support around 25,645, 25,326, 24,837, 24,170, 23,567, 23,435, 23,175

S&P
Daily Neutral, Weekly UT

Potential resistance around 3,022, 3,072, 3,155, 3,219, 3,303, 3,391, 3,690, 3,925

Potential support around 2,983, 2,940, 2,874, 2,854, 2,825, 2,814, 2,786, 2,747, 2,710

Nasdaq
Daily Neutral, Weekly UT

Potential resistance around 8,781, 8,954, 9,166, 9,243, 9,653, 9,873, 10,595

Potential support around 8,428, 8,196, 8,002, 7,859, 7,706, 7,516, 7,282, 7,134

Russell
Daily Neutral, Weekly UT
Potential resistance around 1,508, 1,519, 1,543, 1,585, 1,609, 1,624, 1,649, 1,683

Potential support around 1,451, 1,420, 1,388 TLU3, 1,341, 1,296

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

02 Mar, Mon

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

03 Mar, Tue

• 1130 Australia RBA Interest Rate Decision (Mar)
• 1130 Australia RBA Rate Statement  
• 1730 UK Construction PMI (Feb)
• 1800 Europe CPI (YoY) (Feb)  

04 Mar, Wed

• 0830 Australia GDP (QoQ) (Q4)
• 1730 UK Composite PMI (Feb)
• 1730 UK Services PMI (Feb)
• UK BoE MPC Treasury Committee Hearings 
• 2115 US ADP Nonfarm Employment Change (Feb)
• 2300 US ISM Non-Manufacturing PMI (Feb)
• 2300 Canada BoC Interest Rate Decision 
• 2330 US Crude Oil Inventories 

05 Mar, Thu

• 0015 Canada BoC Press Conference
• 0830 Australia Trade Balance

06 Mar, Fri

• 0100 UK BoE Gov Carney Speaks  
• 0100 Canada BoC Gov Poloz Speaks  
• 0830 Australia Retail Sales (MoM) (Jan)
• 2130 US Nonfarm Payrolls (Feb)
• 2130 US Unemployment Rate (Feb)
• 2130 US Trade Balance 
• 2130 Canada Employment Change (Feb)
• 2300 Canada Ivey PMI (Feb)