US Market 17 Oct 2020

On the weekly chart, US market closed higher with a -roc (close price < open price)

BDI closed lower and Harpex closed higher.

Dollar Index closed higher.

Watch out for 

• A few central banks will be giving a speech.
• China GDP and Loan Prime Rate.

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

UT 

• None

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  28,730, 29,106, 29,407

Potential support around 28,195, 27,345, 26,635, 25,784, 25,336, 24,837

S&P
Daily UT, Weekly UT

Potential resistance around 3,579, 3,690, 3,925

Potential support around 3,454, 3,388, 3,303, 3,219, 3,155, 3,072, 3,022

Nasdaq
Daily UT, Weekly UT

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

Potential support around 11,318, 10,856, 10,595, 10,206, 9,873, 9,723, 9,243

Russell
Daily UT, Weekly UT
Potential resistance around 1,649, 1,683, 1,708

Potential support around 1,624, 1,609, 1,585, 1,543, 1,519, 1,498, 1,451, 1,420

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

19 Oct, Mon

• 1000 China GDP (YoY) (Q3)
• 1000 China Industrial Production (YoY) (Sep)
• 1000 China Retail Sales (YoY)  
• 2000 US Fed Chair Powell Speaks
• 2045 Europe ECB President Lagarde Speaks 

20 Oct, Tue

• 0830 Australia RBA Meeting Minutes
• 0930 China PBoC Loan Prime Rate
• 2030 US Building Permits (Sep)

21 Oct, Wed

• 0830 Australia Retail Sales s.a. (MoM)
• 1400 UK CPI (YoY) (Sep)
• 1530 Europe ECB's President Lagarde speech
• 2030 Canada Core CPI (MoM) (Sep)
• 2030 Canada Core Retail Sales (MoM) (Aug)
• 2230 US Crude Oil Inventories

22 Oct, Thu

• 1400 UK Retail Sales (MoM)
• 1725 UK BoE Gov Bailey Speaks  
• 2030 US Initial Jobless Claims
• 2200 US Existing Home Sales (Sep)

23 Oct, Fri

• 0545 New Zealand CPI (QoQ) (Q3)
• 0900 US Presidential Debate
• 1400 UK Retail Sales (MoM) (Sep)
• 1530 German Manufacturing PMI (Oct) 
• 1600 German Ifo Business Climate Index (Oct)
• 1600 Europe Markit PMI Composite
• 1630 UK Services PMI (Oct)