US Market 22 Oct 2022

The US market broke lhf (lower high formation) on the weekly chart and closed higher.

BDI, Harpex, CDFI and CCFI closed lower.

The Dollar Index is consolidating.

Watch out for

• GDP and Manufacturing PMI  data by multiple countries
• Canada, Europe and Japan Interest rate decision

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

UT 

• None

Neutral 

• None

DT 

• Dow
• S&P
• Russell

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 DT, Weekly DT
Potential resistance around 31,236, 33,365, 35,495

Potential support around 29,106, 26,976, 24,847

S&P
Daily DT, Weekly DT

Potential resistance around 3,925, 4,161, 4,396

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

Nasdaq
Daily DT, Weekly DT

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

Potential support around 11,318, 10,595, 9,873, 9,150

Russell
Daily DT, Weekly DT
Potential resistance around 1,779, 1,910, 2,040, 2,170, 2,300

Potential support around 1,649, 1,519, 1,389, 1,2591

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

24 Oct, Mon

• New Zealand Holiday
• 1000 China GDP (YoY) (Q3)
• 1000 China Industrial Production (YoY) (Sep)
• 1530 German Manufacturing PMI (Oct)
• 1600 Europe Manufacturing PMI (Oct)
• 2145 US Manufacturing PMI (Oct)

25 Oct, Tue

• 1600 German Ifo Business Climate Index (Oct)
• 2200 US CB Consumer Confidence (Oct)

26 Oct, Wed

• 0830 Australia CPI (QoQ) (Q3)
• 2030 US Goods Trade Balance (Sep) 
• 2200 US New Home Sales (Sep)
• 2200 Canada BoC Monetary Policy Report 
• 2200 Canada BoC Interest Rate Decision
• 2200 US New Home Sales (Sep)
• 2230 US Crude Oil Inventories
• 2300 Canada BOC Press Conference

27 Oct, Thu

• 2015 Europe ECB Interest Rate Decision (Oct)
• 2030 US Core Durable Goods Orders (MoM) (Sep)
• 2030 US GDP (QoQ) (Q3)
• 2030 US Initial Jobless Claims
• 2045 Europe ECB Press Conference

28 Oct, Fri

• 1100 Japan BoJ Interest Rate Decision
• 1600 German CPI (YoY) (Oct)
• 1600 German GDP (QoQ) (Q3) 
• 2030 US Core PCE Price Index (MoM) (Sep)
• 2030 Canada GDP (MoM) (Aug)
• 2200 US Pending Home Sales (MoM) (Sep)
• 2200 US Michigan Consumer Sentiment (Oct)