US Market 05 Sep 2020

On the weekly chart, US market closed lower with a -roc (close price < open price) outside day

BDI closed lower while Harpex closed higher.

Dollar Index tested support and recovered.

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

UT 

• Dow
• S&P
• 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 UT
Potential resistance around 28,195, 28,730, 29,106, 29,407

Potential support around 27,345, 26,635, 25,784, 25,336, 24,837

S&P
Daily UT, Weekly UT

Potential resistance around 3,454, 3,690, 3,925

Potential support around 3,391, 3,388, 3,303, 3,219, 3,155, 3,072, 3,022

Nasdaq
Daily UT, Weekly UT

Potential resistance around 12,040, 12,762, 13,485

Potential support around 11,318, 10,856, 10,595, 10,206, 9,873, 9,723, 9,243, 8,781

Russell
Daily UT, Weekly UT
Potential resistance around 1,585, 1,609, 1,624, 1,649

Potential support around 1,543, 1,519, 1,498, 1,451, 1,420, 1,388, 1,341, 1,296

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

07 Sep, Mon

• US, Canada holiday
• No important data

08 Sep, Tue

• 0750 Japan GDP (QoQ)
• 1700 Europe GDP
• 2130 UK Inflation Report Hearings

09 Sep, Wed

• 0930 China Consumer Price Index (YoY)
• 2000 US EIA Short-Term Energy Outlook
• 2200 US JOLTs Job Openings (Jul)
• 2200 Canada BoC Interest Rate Decision

10 Sep, Thu

• 1945 Europe Deposit Facility Rate (Sep)
• 1945 Europe ECB Monetary Policy Statement
• 1945 Europe ECB Interest Rate Decision (Sep)
• 2030 US Initial Jobless Claims
• 2030 US PPI (MoM) (Aug)
• 2030 Europe ECB Press Conference
• 2230 US Crude Oil Inventories 

11 Sep, Fri

• 0030 Canada BoC's Governor Macklem speech
• 1400 UK GDP (MoM)
• 1400 UK Manufacturing Production (MoM) (Jul)
• 1400 UK Monthly GDP 3M/3M Change
• 2030 US Core CPI (MoM) (Aug)