US Markets 31 Aug 19

On the weekly chart, US markets closed broke pwl and rallied to close higher.
US market in consolidation mode for the 4th week

BDI and Harpex closed higher.

Dollar Index broke resistance.

Various countries will be releasing their Manufacturing PMI this week.  US NFP on Fri.

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

• None

Neutral 

• Nasdaq

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 DT, Weekly UT
Potential resistance around 26,627, 26,976, 27,350, 29,106

Potential support around 26,245, 25,784, 25,645, 25,326, 24,837, 24,170, 23,567

S&P
Daily DT, Weekly UT

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

Potential support around 2,874, 2,854, 2,825, 2,814, 2,786, 2,747, 2,710

Nasdaq
Daily Neutral, Weekly UT

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

Potential support around 7,516, 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)
02 Sep, Mon

• Canada and US Holiday
• 0945 China Caixin Manufacturing PMI (Aug) 
• 1555 German Manufacturing PMI (Aug)
• 1630 UK Manufacturing PMI (Aug)

03 Sep, Tue

• 0930 Australia Retail Sales (MoM) (Jul)
• 1230 Australia RBA Interest Rate Decision (Sep)
• 1230 Australia RBA Rate Statement  
• 1500 Europe ECB's Nominated President Lagarde speech
• 1630 UK Construction PMI (Aug)
• 2200 US ISM Manufacturing PMI (Aug) 

04 Sep, Wed

• 0930 Australia GDP (QoQ) (Q2)
• 1630 UK Composite PMI (Aug)
• 1630 UK Services PMI (Aug)
• 2030 US Trade Balance
• 2200 Canada BoC Interest Rate Decision 

05 Sep, Thu

• 2015 US ADP Nonfarm Employment Change (Aug)
• 2200 ISM Non-Manufacturing PMI (Aug)
• 2300 US Crude Oil Inventories 

06 Sep, Fri

• 1700 Europe Gross Domestic Product s.a.
• 2030 US Nonfarm Payrolls (Aug)
• 2030 US Unemployment Rate (Aug)
• 2030 Canada Employment Change (Aug)
• 2200 Canada Ivey PMI (Aug)

07 Sep, Sat

• 0030 Switzerland SNB's Chairman Jordan speech
• 0030 US Fed's Chair Powell speech