US Market 31 Jul 2021

US market closed lower with a -roc (close price < open price) except  Russell closed higher but still consolidating.

Harpex, BDI, CDFI, and CCFI closed higher.

The dollar index closed lower.

Watch out for

• Various countries Manufacturing PMI 
• Australia and UK Interest Rate Decision 
• US NFP

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

UT 

• None

Neutral 

• Russell

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 35,495

Potential support around 33,365, 31,236, 29,407, 29,106, 28,912

S&P
Daily UT, Weekly UT

Potential resistance around 4,632

Potential support around 4,396, 4,161, 3,925, 3,690, 3,579, 3,454

Nasdaq
Daily UT, Weekly UT

Potential resistance around 15,652

Potential support around 114,930, 4,207, 13,485, 12,762, 12,410, 12,040

Russell
Daily Neutral, Weekly UT
Potential resistance around 2,300, 2,430, 2,561

Potential support around 2,170, 2,040, 1,910, 1,779, 1,743, 1,708

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

02 Aug, Mon

• Canada Holiday
• 0945 China Caixin Manufacturing PMI (Jul)
• 1555 German Manufacturing PMI (Jul)
• 1630 UK Manufacturing PMI (Jul)
• 2200 US ISM Manufacturing PMI (Jul)

03 Aug, Tue

• 1230 Australia RBA Interest Rate Decision (Aug)
• 1230 Australia RBA Rate Statement

04 Aug, Wed

• 0645 New Zealand Employment Change (QoQ) (Q2)
• 0930 Australia Retail Sales (MoM) (Jun)
• 1630 UK Composite PMI (Jul)
• 1630 UK Services PMI (Jul)
• 1700 Europe Retail Sales
• 2015 US ADP Nonfarm Employment Change (Jul)
• 2030 Canada Building Permits (MoM)
• 2200 US ISM Non-Manufacturing PMI (Jul)
• 2230 US Crude Oil Inventories

05 Aug, Thu

• 0930 Australia Trade Balance (MoM)
• 1630 UK Construction PMI (Jul)
• 1900 UK BoE Interest Rate Decision (Aug)
• 1900 UK Bank of England Monetary Policy Report
• 2030 US Initial Jobless Claims
• 2030 US Goods and Services Trade

06 Aug, Fri

• 0700 Australia RBA's Governor Lowe speech
• 0930 Australia RBA Monetary Policy Statement
• 2030 US Nonfarm Payrolls (Jul)
• 2030 US Unemployment Rate (Jul)
• 2030 Canada Employment Change (Jul)
• 2200 Canada Ivey PMI (Jul)