US Market 08 Aug 2020

On the weekly chart, US market broke lhf and closed higher.
Dow testing Jun's high.  Russell broke and closed above Jun's high.

BDI and Harpex both leapt higher.

Dollar Index closed with a +roc.

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 28,195, 28,730, 29,106, 29,407

Potential support around 27,345, 26,635, 25,784, 25,336, 24,837, 24,170, 23,567

S&P
Daily UT, Weekly UT

Potential resistance around 3,388, 3,391, 3,454

Potential support around 3,303, 3,219, 3,155, 3,072, 3,022, 2,983, 2,940, 2,874

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

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

Potential support around 1,543, 1,519, 1,498, 1,451, 1,420, 1,388, 1,341, 1,296

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

10 Aug, Mon

• Japan and Singapore Holiday
• 0930 China Consumer Price Index
• 2200 US JOLTs Job Openings (Jun)

11 Aug, Tue

• 0750 Japan Current Account n.s.a.
• 1630 UK Average Earnings Index +Bonus (Jun)
• 1630 UK Claimant Count Change (Jul)
• 1630 UK ILO Unemployment Rate (3M)
• 1700 German ZEW Economic Sentiment (Aug)
• 2000 US EIA Short-Term Energy Outlook 
• 2030 US PPI (MoM) (Jul)

12 Aug, Wed

• 1000 New Zealand RBNZ Interest Rate Decision
• 1000 New Zealand RBNZ Rate Statement  
• 1100 New Zealand RBNZ Press Conference  
• 1400 UK GDP
• 1400 UK Manufacturing Production (MoM) (Jun)
• 1400 UK Monthly GDP 3M/3M Change
• 2030 US Core CPI (MoM) (Jul)
• 2230 US Crude Oil Inventories 

13 Aug, Thu

• 0830 Australia Employment Change (Jul)
• 1400 Herman Harmonized Index of Consumer Prices (YoY)
• 2030 US Initial Jobless Claims

14 Aug, Fri

• 1000 China Industrial Production (YoY) (Jul)
• 1000 China Retail Sales (YoY)
• 1700 Europe Gross Domestic Product s.a. (QoQ)
• 2030 US Core Retail Sales (MoM) (Jul)
• 2030 US Retail Sales (MoM) (Jul)
• 2200 US Michigan Consumer Sentiment Index