US Market 07 Nov 2020

On the weekly chart, US market broke lhf (lower high formation) and rallied to close higher.

BDI closed lower. Harpex closed higher and may test 10 years high.

Dollar Index closed lower, next strong support around 92.0 level

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

UT 

• None

Neutral 

• Russell

DT 

• Dow

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 DT, Weekly UT
Potential resistance around 28,912, 29,106, 29,407

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

S&P
Daily DT, Weekly UT

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

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

Nasdaq
Daily DT, 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

Russell
Daily Neutral, 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

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

09 Nov, Mon

• 1835 UK BoE Gov Bailey Speaks

10 Nov, Tue

• 0750 Japan Current Account
• 0930 China Consumer Price Index (YoY)
• 1500 UK Claimant Count Change (Oct)
• 1800 German ZEW Economic Sentiment (Nov)
• 2000 US EIA Short-Term Energy Outlook
• 2300 US JOLTS Job Openings

11 Nov, Wed

• 0900 New Zealand RBNZ Interest Rate Decision
• 0900 New Zealand RBNZ Rate Statement  
• 1000 New Zealand RBNZ Press Conference  

12 Nov, Thu

• 1500 German Harmonized Index of Consumer Prices (YoY)
• 1500 UK GDP
• 1600 UK BoE Gov Bailey Speaks  
• 2130 US Core CPI (MoM) (Oct)
• 2130 US Initial Jobless Claims

13 Nov, Fri

• 0000 US Crude Oil Inventories
• 1800 Europe Gross Domestic Product
• 2130 US PPI (MoM) (Oct)
• 2300 US Michigan Consumer Sentiment Index