US Market 25 Jul 2020

On the weekly chart, US market broke the pwh (previous week high), reversed and closed lower with a -roc.

BDI closed lower, Harpex closed higher.

Dollar Index broke the previous year low.

30 Jul (Thu) 2 AM SGT, US Fed Interest Rate Decision follow by FOMC Press Conference  

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

UT 

• Dow
• S&P (1)
• Russell

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 is based on 50 Simple Moving Average

Dow

Daily UT, Weekly DT
Potential resistance around 26,235, 27,350, 28,195, 28,730, 29,106, 29,407

Potential support around 25,784, 25,336, 24,837, 24,170, 23,567, 23,175, 22,776

S&P
Daily UT, Weekly UT

Potential resistance around 3,219, 3,303, 3,391, 3,454

Potential support around 3,155, 3,072, 3,022, 2,983, 2,940, 2,874, 2,854, 2,825

Nasdaq
Daily UT, Weekly UT

Potential resistance around 10,595, 10,856, 11,318, 12,040

Potential support around 10,206, 9,873, 9,723, 9,243, 8,781, 8,428, 8,196

Russell
Daily UT, Weekly DT
Potential resistance around 1,508, 1,519, 1,543, 1,585, 1,609, 1,624, 1,649

Potential support around 1,451, 1,420, 1,388, 1,341, 1,296, 1,287, 1,259, 1,240, 1,213

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

27 Jul, Mon

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

28 Jul, Tue

• 2200 US CB Consumer Confidence (Jul)

29 Jul, Wed

• 0930 Australia CPI (QoQ) (Q2)
• 2030 US Goods Trade Balance
• 2200 US Pending Home Sales (MoM) (Jun)
• 2230 US Crude Oil Inventories 

30 Jul, Thu

• 0200 US FOMC Statement 
• 0200 US Fed Interest Rate Decision
• 0230 US FOMC Press Conference  
• 1400 German GDP (QoQ) (Q2) 
• 1555 German Unemployment Change (Jul)
• 2030 US GDP (QoQ) (Q2) 
• 2030 US Initial Jobless Claims

31 Jul Aug, Fri

• 0900 China Manufacturing PMI (Jul)
• 0930 Australia Producer Price Index
• 1700 Europe CPI (YoY)
• 1700 Europe GDP (YoY)
• 2030 Canada GDP (MoM) (May)
• 2200 US Michigan Consumer Sentiment Index