US Market 03 Oct 2020

On the weekly chart, the US market broke lhf (lower high formation) and closed higher.  Nasdaq closed with a small -roc (close price < open price).

BDI and Harpex closed higher.

Dollar Index pulls back.

Watch out for 

• China market will be closed till Wed
• Fed's Chair Powell speech on 06 Oct
• FOMC meeting minutes and statement on 08 Oct 0200 HRs

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

UT 

• Dow
• 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 UT
Potential resistance around 28,195, 28,730, 29,106, 29,407

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

S&P
Daily UT, Weekly UT

Potential resistance around 3,388, 3,391, 3,454, 3,579, 3,690, 3,925

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

Nasdaq
Daily UT, Weekly UT

Potential resistance around 11,318, 12,040, 12,410, 12,762, 13,485

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

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

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

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

05 Oct, Mon

• China Holiday
• 1630 UK Composite PMI (Sep)
• 1630 UK Services PMI (Sep)
• 1700 Europe Retail Sales (YoY)
• 2200 US ISM Non-Manufacturing PMI (Sep)

06 Oct, Tue

• China Holiday
• 0830 Australia Trade Balance
• 1130 Australia RBA Interest Rate Decision (Oct)
• 1130 Australia RBA Rate Statement
• 1630 Australia Budget Release
• 1630 UK Construction PMI (Sep)
• 2000 US EIA Short-Term Energy Outlook
• 2030 US Trade Balance
• 2200 US JOLTs Job Openings (Aug)
• 2240 US Fed's Chair Powell speech

07 Oct, Wed

• China Holiday
• 2200 Canada Ivey PMI (Sep)
• 2230 US Crude Oil Inventories 

08 Oct, Thu

• 0200 US FOMC Meeting Minutes
• 0200 US FOMC Statement 
• 0750 Japan Current Account n.s.a.
• 1730 Switzerland SNB's Chairman Jordan speech
• 1930 Europe ECB Monetary Policy Statement
• 2030 US Initial Jobless Claims
• 2030 Canada BoC's Governor Macklem speech

09 Oct, Fri

• 0750 Japan GDP (QoQ)
• 1400 UK GDP (MoM)
• 1400 UK Manufacturing Production (MoM) (Aug)
• 1400 UK Monthly GDP 3M/3M Change
• 2030 Canada Employment Change (Sep)