US Markets 24 Aug 19

On the weekly chart, US markets closed lower with a -roc.
US market is in consolidation mode for the 3rd week, bigger movement may be coming soon.  Russell strong support is around 1,450.  If strong support is broken may see testing 1,420, 1,320 or even 1,260.

BDI and Harpex closed higher.

Dollar Index closed lower.

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

• Nasdaq

Neutral 

• None

DT 

• Russell (1)

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 25,784, 26,245, 26,627, 26,976, 27,350, 29,106

Potential support around 25,645, 25,326, 24,837, 24,170, 23,567

S&P
Daily UT, Weekly UT

Potential resistance around 2,854, 2,874, 2,940, 2,983, 3,022, 3,219

Potential support around 2,825, 2,814, 2,786, 2,747, 2,710

Nasdaq
Daily UT, Weekly UT

Potential resistance around 7,516, 7,706, 7,859, 8,002, 8,428

Potential support around 7,282, 7,134, 6,982, 6,516, 6,346, 6,261, 6,061

Russell
Daily DT, Weekly DT
Potential resistance around 1,508, 1,519, 1,543, 1,585, 1,609, 1,624, 1,683, 1,708

Potential support around 1,451, 1,420, 1,388, 1,341, 1,296

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

• UK Holiday
• 1600 German Ifo Business Climate Index (Aug)
• 2030 US Core Durable Goods Orders (MoM) (Jul)

27 Aug, Tue

• 1400 German GDP (QoQ) (Q2)
• 2200 US CB Consumer Confidence (Aug) 

28 Aug, Wed

• 2230 US Crude Oil Inventories 

29 Aug, Thu

• 1655 German Unemployment Change (Aug)
• 2000 German Harmonized Index of Consumer Prices (YoY)
• 2030 US GDP (QoQ) (Q2)  
• 2200 US Pending Home Sales (MoM) (Jul)

30 Aug, Fri

• 1700 Europe CPI (YoY) (Aug)  
• 2030 Canada GDP (MoM) (Jun)
• 2200 US Michigan Consumer Sentiment Index

31 Aug, Sat

• 0900 China Non-Manufacturing PMI
• 0900 China NBS Manufacturing PMI