US Market 12 Sep 2020

US market broke pwl (previous week low) and closed lower with a -roc (close price < open price).

BDI closed lower while Harpex closed higher.

Dollar Index broke pwh (previous week high) and closed higher.

Watch out for several central banks will release a statement on interest rate decision.  Especially Thur 0200 Hrs (SGT) US FOMC Statement

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, 3,579, 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, 12,410, 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 1,498, 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

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

14 Sep, Mon

• 2300 UK Parliamentary Vote on Brexit

15 Sep, Tue

• 0930 Australia RBA Meeting Minutes
• 1000 China Industrial Production (YoY) (Aug)
• 1000 China Retail Sales (YoY)
• 1400 UK Average Earnings Index +Bonus (Jul)
• 1400 UK Claimant Count Change (Aug)
• 1400 UK ILO Unemployment Rate (3M)
• 1700 German ZEW Economic Sentiment (Sep)

16 Sep, Wed

• 1400 UK CPI (YoY) (Aug)
• 2030 US Core Retail Sales (MoM) (Aug)
• 2030 US Retail Sales (MoM) (Aug)
• 2030 Canada Core CPI (MoM) (Aug)
• 2230 US Crude Oil Inventories 

17 Sep, Thu

• 0200 US FOMC Statement  
• 0200 US Fed Interest Rate Decision
• 0230 US FOMC Press Conference
• 0645 New Zealand GDP (QoQ) (Q2)
• 0930 Australia Employment Change (Aug)
• 1000 Japan BoJ Monetary Policy Statement 
• 1400 Japan BoJ Press Conference
• 1700 Europe CPI (YoY) (Aug)
• 1900 UK BoE Interest Rate Decision (Sep)
• 1900 UK BoE MPC Meeting Minutes  
• 2030 US Building Permits (Aug)
• 2030 US Initial Jobless Claims
• 2030 US Philadelphia Fed Manufacturing Index (Sep)

18 Sep, Fri

• 0030 Canada BoC's Governor Macklem speech
• 1400 UK Retail Sales (MoM) (Aug)
• 2030 Canada Core Retail Sales (MoM) (Jul)
• 2200 US Michigan Consumer Sentiment Index