US Market 15 Aug 2020

On the weekly chart, US market broke pwh (previous week high) and closed higher except for Nasdaq.  

Nasdaq broke hlf (high-low formation), recovered and closed higher with a small roc.  Dow closed above Jun's high.  S&P closed with a small roc.  Russell traded higher but the gain is trimmed and closed with small -roc (open price < close price).

BDI and Harpex both closed higher.

Dollar Index directionless.

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

UT 

• 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)

17 Aug, Mon

• 0750 Japan GDP

18 Aug, Tue

• 0930 Australia RBA Meeting Minutes
• 2030 US Building Permits (Jul)

19 Aug, Wed

• 1400 UK CPI (YoY) (Jul)
• 1700 Europe CPI (YoY) (Jul)
• 2030 Canada Core CPI (MoM) (Jul)
• 2230 US Crude Oil Inventories 

20 Aug, Thu

• 0200 US FOMC Meeting Minutes
• 0930 China PBoC Loan Prime Rate
• 1930 Europe ECB Publishes Account of Monetary Policy Meeting  
• 2030 US Initial Jobless Claims
• 2030 US Philadelphia Fed Manufacturing Index (Aug)

21 Aug, Fri

• 1400 UK Retail Sales (MoM) (Jul)
• 1530 German Manufacturing PMI (Aug)  
• 1600 Europe Markit PMI Composite
• 1630 UK Manufacturing PMI  
• 2030 Canada Core Retail Sales (MoM) (Jun)  
• 2200 US Existing Home Sales (Jul)