US Market 02 Oct 2021

US market closed lower.  S&P and Nasdaq broke pwl (previous week low), recovered some of the losses before closing. Russell continues to consolidate.

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

The dollar index broke the 94.0 resistance level.

Watch out for

• China long holiday
• Australia and New Zealand 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 Neutral, 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 Neutral, Weekly UT

Potential resistance around 4,396, 4,632

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

Nasdaq
Daily Neutral, Weekly UT

Potential resistance around 14,930, 15,652, 16,374

Potential support around 14,207, 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)

04 Oct, Mon

• China Holiday
• No important data

05 Oct, Tue

• China Holiday
• 0830 Australia Retail Sales (MoM)
• 1130 Australia RBA Interest Rate Decision (Oct)
• 1130 Australia RBA Rate Statement  
• 1630 UK Composite PMI (Sep)
• 1630 UK Services PMI (Sep)
• 2030 US Balance of Trade (Aug)
• 2200 US ISM Non-Manufacturing PMI (Sep)

06 Oct, Wed

• China Holiday
• 0900 New Zealand RBNZ Interest Rate Decision
• 1700 Europe Retail Sales (Aug)
• 2015 US ADP Nonfarm Employment Change (Sep)
• 2230 US Crude Oil Inventories

07 Oct, Thu

• China Holiday
• 1930 Europe ECB Publishes Account of Monetary Policy Meeting  
• 2030 US Initial Jobless Claims
• 2200 Canada Ivey PMI (Sep)

08 Oct, Fri

• 0945 China Caixin Services PMI (Sep)
• 2030 US Nonfarm Payrolls (Sep)
• 2030 US Unemployment Rate (Sep)
• 2030 Canada Employment Change (Sep)