US Market 06 Aug 2022

US market closed higher around another resistance range, except Dow closed lower.  US market trend on the daily chart has turned from Neutral to UT (up trend).

BDI, Harpex, CCFI and CDFI closed lower.

The dollar index broke pwl (previous week low) and recovered to close higher.

There aren't many critical data released this week.

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

UT 

• Dow (1)
• S&P (1)
• Russell (1)

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 are based on 50 Simple Moving Average.

Dow

Daily UT, Weekly DT
Potential resistance around 33,365, 35,495, 37,625

Potential support around 31,236, 29,407, 29,106, 28,912

S&P
Daily UT, Weekly DT

Potential resistance around 4,161, 4,396, 4,632

Potential support around 3,925, 3,690, 3,454, 3,219, 2,983

Nasdaq
Daily UT, Weekly DT

Potential resistance around 13,485, 14,207, 14,930, 15,652

Potential support around 12,762, 12,040, 11,318, 10,856, 10,595, 9,873

Russell
Daily UT, Weekly DT
Potential resistance around 2,040, 2,170, 2,300, 2,430

Potential support around 1,910, 1,779, 1,649, 1,519, 1,389

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

08 Aug, Mon

• No important data

09 Aug, Tue

• No important data

10 Aug, Wed

• 0930 China Inflation Rate YoY (Jul)
• 2030 US Core CPI (Jul)
• 2230 US Crude Oil Inventories

11 Aug, Thu

• Japan Holiday
• 2030 US Initial Jobless Claims
• 2030 US PPI (MoM) (Jul)

12 Aug, Fri

• 1400 UK GDP (Q2)
• 2200 US Michigan Consumer Sentiment (Aug)