US Market 18 Jul 2020

US market closed higher except for Nasdaq closed lower with a -roc outside day on a weekly chart.

On the weekly chart, S&P and Russell closed with a small +roc.

BDI closed lower, Harpex closed higher.

Dollar index testing previous month low.

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

UT 

• Dow
• S&P (1)
• Russell

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 DT
Potential resistance around 27,350, 28,195, 28,730, 29,106, 29,407

Potential support around 26,245, 25,784, 25,336, 24,837, 24,170, 23,567, 23,435, 23,175

S&P
Daily UT, Weekly UT

Potential resistance around 3,303, 3,391, 3,454

Potential support around 3,219, 3,155, 3,072, 3,022, 2,983, 2,940, 2,874, 2,854, 2,825

Nasdaq
Daily UT, Weekly UT

Potential resistance around 10,856, 11,318, 12,040

Potential support around 10,595, 10,206, 9,873, 9,723, 9,243, 8,781, 8,428, 8,196

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

Potential support around 1,451, 1,420, 1,388, 1,341, 1,296, 1,287, 1,259, 1,240, 1,213

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

20 Jul, Mon

• 0750 Japan BoJ Monetary Policy Meeting Minutes
• 0930 China PBoC Loan Prime Rate

21 Jul, Tue

• 0930 Australia RBA Meeting Minutes
• 1030 Australia RBA's Governor Lowe speech
• 2030 Canada Core Retail Sales (MoM) (May)

22 Jul, Wed

• 0930 Australia Retail Sales (MoM)
• 2030 Canada Core CPI (MoM) (Jun)
• 2200 US Existing Home Sales (Jun)
• 2230 US Crude Oil Inventories 

23 Jul, Thu

• Japan Holiday
• 2030 US Initial Jobless Claims

24 Jul, Fri

• Japan Holiday
• 1400 UK Retail Sales (MoM) (Jun)
• 1530 German Manufacturing PMI (Jul)
• 1600 Europe Markit PMI Composite
• 1630 UK Composite PMI
• 1630 UK Services PMI  
• 2200 US New Home Sales (Jun)