US Market 01 Aug 2020

US market closed higher except for Dow closed lower.

On the weekly chart, Dow broke hlf, S&P and Nasdaq closed with a +roc inside day while Russell broke hlf, trimmed some of the losses before closing with a -roc.

BDI and Harpex closed higher.

Dollar Index continues to slide.

Various countries will be reporting PMI data this week.  This Fri,  US NFP and unemployment data.

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

UT 

• Dow
• S&P
• 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 Neutral
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 3,303, 3,391, 3,454

Potential support around 3,219, 3,155, 3,072, 3,022, 2,983, 2,940, 2,874, 2,854, 2,825

Nasdaq
Daily UT, Weekly UT

Potential resistance around 11,318, 12,040

Potential support around 10,856, 10,595, 10,206, 9,873, 9,723, 9,243, 8,781, 8,428, 8,196

Russell
Daily UT, Weekly DT
Potential resistance around 1,498, 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)

03 Aug, Mon

• Canada Holiday
• 0750 Japan GDP
• 0945 China Caixin Manufacturing PMI (Jul)
• 1555 German Manufacturing PMI (Jul)
• 2200 US ISM Manufacturing PMI (Jul)

04 Aug, Tue

• 0930 Australia Retail Sales (MoM) (Jun)
• 1230 Australia RBA Interest Rate Decision (Aug)
• 1230 Australia RBA Rate Statement  

05 Aug, Wed

• 0645 New Zealand Employment Change (QoQ) (Q2)
• 1630 UK Composite PMI (Jul)
• 1630 UK Services PMI (Jul)
• 1700 Europe Retail Sales
• 2015 US ADP Nonfarm Employment Change (Jul)
• 2030 US Trade Balance
• 2200 US ISM Non-Manufacturing PMI (Jul)
• 2230 US Crude Oil Inventories 

06 Aug, Thu

• 1400 UK BoE Inflation Report
• 1400 UK BoE Interest Rate Decision (Jul)
• 1400 UK BoE MPC Meeting Minutes 
• 1630 UK Construction PMI (Jul)
• 2030 US Initial Jobless Claims

07 Aug, Fri

• 0930 Australia RBA Monetary Policy Statement
• 2030 US Nonfarm Payrolls (Jul)
• 2030 US Unemployment Rate (Jul)
• 2030 Canada Employment Change (Jul)
• 2200 Canada Ivey PMI (Jul)