US Markets 28 Oct 2023

The US market closed lower.

The dollar index closed higher while consolidating.

Watch out for

• Interest rate decisions by Japan, the US and the UK.
• US NFP
• Multiple countries reporting Manufacturing PMI data

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

UT 

• None

Neutral 

• None

DT 

• Dow

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 Averages.

Dow
Daily DT, Weekly UT
Potential resistance around 33,365, 35,495, 37,625, 39,754

Potential support around 31,236, 29,106, 26,976

S&P
Daily DT, Weekly UT

Potential resistance around 4,161,4,396, 4,632, 4,867

Potential support around 3,925, 3,690, 3,454

Nasdaq
Daily DT, Weekly UT

Potential resistance around 14,207, 14,930, 15,652, 16,374

Potential support around 13,485, 12,762, 12,040, 11,318

Russell
Daily DT, Weekly DT
Potential resistance around 1,649, 1,779, 1,910, 2,040, 2,170

Potential support around 1,519, 1,389, 1,259

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

30 Oct, Mon

• 0830 Australia Retail Sales MoM (Sep) 
• 1700 German GDP (QoQ) (Q3)
• 2100 German CPI (MoM) (Oct)

31 Oct, Tue

• 0930 China Manufacturing PMI (Oct)
• 1100 Japan BoJ Interest Rate Decision
• 1600 German Retail Sales YoY (Sep)
• 1800 Europe CPI (YoY) (Oct)  
• 2200 US CB Consumer Confidence (Oct)

01 Nov, Wed

• 0945 China Caixin Manufacturing PMI (Oct)
• 2015 US ADP Nonfarm Employment Change (Oct)
• 2200 US ISM Manufacturing PMI (Oct)
• 2200 US JOLTs Job Openings (Sep)
• 2230 US Crude Oil Inventories

02 Nov, Thu

• 0200 US Fed Interest Rate Decision
• 0230 US FOMC Press Conference  
• 1655 German HCOB Manufacturing PMI (Oct)
• 1700 Europe HCOB Manufacturing PMI (Oct)
• 2000 UK BoE Monetary Policy Report
• 2000 UK BoE Interest Rate Decision (Nov)
• 2030 US Initial Jobless Claims

03 Nov, Fri

• Japan on holiday
• 0945 China Caixin Services PMI (Oct)
• 1800 Europe Unemployment Rate (Sep)
• 2030 US Average Hourly Earnings (MoM) (Oct)
• 2030 US Nonfarm Payrolls (Oct)
• 2030 US Unemployment Rate (Oct)
• 2030 Canada Unemployment Rate (Oct)
• 2145 US S&P Global Services PMI (Oct)
• 2200 US ISM Non-Manufacturing PMI (Oct)