US Market 31 Oct 2020

On the weekly chart, US market broke pwl (previous week low) and closed lower.

BDI closed lower and Harpex closed higher.

Dollar Index closed higher, resisted at the trend line.

Watch out for US Presidential Election, US NFP and various countries on interest rate decision.

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 Neutral, Weekly UT
Potential resistance around 26,635, 27,345, 28,195, 28,730, 29,106, 29,407

Potential support around  25,784, 25,336, 24,837, 24,170, 23,567

S&P
Daily Neutral,, Weekly UT

Potential resistance around 3,303, 3,454, 3,579, 3,690, 3,925

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

Nasdaq
Daily Neutral, 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

Russell
Daily Neutral, Weekly UT
Potential resistance around 1,585, 1,609, 1,624, 1,649, 1,683, 1,708

Potential support around 1,543, 1,519, 1,498, 1,451, 1,420, 1,388

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

02 Nov, Mon

• 0945 China Caixin Manufacturing PMI (Oct)
• 1655 German Manufacturing PMI (Oct)
• 1730 UK Manufacturing PMI (Oct)
• 2300 US ISM Manufacturing PMI (Oct)

03 Nov, Tue

• Japan Holiday
• US Presidential Election
• 1130 Australia RBA Interest Rate Decision (Nov)
• 1130 Australia RBA Rate Statement  

04 Nov, Wed

• 0545 New Nealand Employment Change (QoQ) (Q3)
• 0750 Japan BoJ Monetary Policy Statement  
• 0830 Australia Retail Sales (MoM) (Sep)
• 1730 UK Services PMI (Oct)
• 2115 US ADP Nonfarm Employment Change (Oct)
• 2130 US Trade Balance
• 2300 US ISM Non-Manufacturing PMI (Oct)
• 2230 US Crude Oil Inventories

05 Nov, Thu

• 1900 UK BoE MPC Meeting Minutes 
• 2000 UK BoE Interest Rate Decision (Nov)
• 2030 US Initial Jobless Claims

06 Nov, Fri

• 0300 US Fed Interest Rate Decision
• 0300 US FOMC Press Conference
• 0830 Australia RBA Monetary Policy Statement
• 2130 US Nonfarm Payrolls (Oct)
• 2130 US Unemployment Rate (Oct) 
• 2130 Canada Employment Change (Oct)
• 2300 Canada Ivey PMI (Oct)