US Market 24 Oct 2020

On the weekly chart, US market broke hlf (higher low formation), recovered some of the losses before closing except for Russell closed with a very small roc inside day. 

BDI closed lower and Harpex closed higher.

Dollar Index closed higher.

Watch out for GDP data and Interest rate decision from various countries

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)

26 Oct, Mon

• New Zealand and Honk Kong holiday
• 1700 German Ifo Business Climate Index (Oct)
• 2200 US New Home Sales (Sep)
• 2230 Switzerland SNB's Chairman Jordan speech

27 Oct, Tue

• 2030 US Core Durable Goods Orders (MoM) (Sep)
• 2200 US CB Consumer Confidence (Oct)

28 Oct, Wed

• 0830 Australia CPI (QoQ) (Q3)
• 2030 US Goods Trade Balance
• 2200 Canada BoC Interest Rate Decision
• 2200 Canada BoC Rate Statement
• 2230 US Crude Oil Inventories
• 2315 Canada BOC Press Conference 

29 Oct, Thu

• 1100 Japan BoJ Monetary Policy Statement
• 1100 Japan BoJ Outlook Report (YoY) 
• 1400 Japan BoJ Press Conference  
• 1655 German Unemployment Change (Oct)
• 2030 US GDP (QoQ) (Q3)   
• 2030 US Initial Jobless Claims
• 2030 Canada Building Permits (MoM)
• 2045 Europe Deposit Facility Rate (Oct)
• 2045 Europe ECB Marginal Lending Facility
• 2045 Europe ECB Monetary Policy Statement 
• 2045 Europe ECB Interest Rate Decision (Oct)
• 2130 Europe ECB Press Conference  
• 2200 US Pending Home Sales (MoM) (Sep)

30 Oct, Fri

• 0830 Australia Producer Price Index
• 1500 German GDP (QoQ) (Q3)
• 1800 Europe CPI (YoY) (Oct)  
• 2030 Canada GDP (MoM) (Aug)
• 2200 US Michigan Consumer Sentiment Index

31 Oct, Sat

• 0900 China Manufacturing PMI (Oct)
• 0900 China Caixin Manufacturing PMI