US Market 18 Sep 2021

US market broke pwl (previous week low) on the weekly chart and closed lower except for Russell closed slightly higher with a -roc (close price < open price).

Harpex, BDI, and CDFI closed higher, while CCFI closed lower.

The dollar index may test the 93.3 resistance level again.

Watch out for

• Interest rate decisions from China, Japan, Switzerland, UK and the US.
• Statement from the various central banks.

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

UT 

• None

Neutral 

• None

DT 

• Russell

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, 37,625

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, 16,374

Potential support around 14,930, 14,207, 13,485, 12,762

Russell
Daily DT, 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)

20 Sep, Mon

• Japan and China holiday
• No important data

21 Sep, Tue

• China holiday
• 0930 Australia RBA Meeting Minutes
• 2030 US Core Building Permits (Aug)

22 Sep, Wed

• Hong Kong Holiday
• 0930 China PBoC Loan Prime Rate
• 1100 Japan BoJ Interest rate decision and Press Conference  
• 2200 US Existing Home Sales (Aug)
• 2230 US Crude Oil Inventories

23 Sep, Thu

• Japan Holiday
• 0200 US FOMC Economic Projections 
• 0200 US FOMC Statement  
• 0200 US Fed Interest Rate Decision
• 0230 US FOMC Press Conference  
• 1530 Switzerland SNB Interest Rate Decision (Q3)
• 1530 Switzerland SNB Monetary Policy Assessment  
• 1530 German Manufacturing PMI (Sep)  
• 1600 Europe Markit Services PMI
• 1600 Europe Markit Manufacturing PMI
• 1630 UK Composite PMI  
• 1630 UK Manufacturing PMI  
• 1630 UK Services PMI  
• 1900 UK BoE Interest Rate Decision (Sep)
• 2030 US Initial Jobless Claims
• 2030 Canada Core Retail Sales (MoM) (Jul)

24 Sep, Fri

• 0730 Japan Inflation Rate
• 1600 German Ifo Business Climate Index (Sep)
• 2200 US Fed Chair Powell Speaks
• 2200 US New Home Sales (Aug)