US Market 30 Jul 2022

US market closed higher around the recent resistance level.

BDI, Harpex, CCFI and CDFI closed lower. Harpex resumed providing data.

The dollar index broke consolidation support.

Watch out for

• Manufacturing PMI data from multiple countries
• Australia and UK Interest rate decision
• Speech by UK BoE Gov Bailey Speaks 
• US NFP

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

UT 

• Russell (1)

Neutral 

• Dow (1)
• S&P (1)

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 are based on 50 Simple Moving Average.

Dow

Daily Neutral, Weekly DT
Potential resistance around 33,365, 35,495, 37,625

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

S&P
Daily Neutral, Weekly DT

Potential resistance around 4,161, 4,396, 4,632

Potential support around 3,925, 3,690, 3,454, 3,219, 2,983

Nasdaq
Daily Neutral, Weekly DT

Potential resistance around 13,485, 14,207, 14,930, 15,652

Potential support around 12,762, 12,040, 11,318, 10,856, 10,595, 9,873

Russell
Daily UT, Weekly DT
Potential resistance around 1,910, 2,040, 2,170, 2,300

Potential support around 1,779, 1,649, 1,519, 1,389

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

01 Aug, Mon

• Switzerland and Canada holiday.
• 0945 China Caixin Manufacturing PMI (Jul)
• 1400 German Retail Sales (Jun)
• 1555 German Manufacturing PMI (Jul)
• 1600 Europe Manufacturing PMI (Jul)
• 1630 UK Manufacturing PMI (Jul)
• 1700 Europe Unemployment Rate (Jun)
• 2200 US ISM Manufacturing PMI (Jul)

02 Aug, Tue

• 1230 Australia RBA Interest Rate Decision (Aug)
• 1230 Australia RBA Rate Statement
• 2130 Canada Manufacturing PMI (Jul)
• 2200 US JOLTs Job Openings (Jun)

03 Aug, Wed

• 0645 New Zeland Employment Change (QoQ) (Q2)
• 0930 Australia Retail Sales MoM (Jun)
• 0945 China Caixin Services PMI (Jul)
• 1400 German Balance of Trade (Jun)
• 1700 Europe Retail Sales MoM (Jun)
• 2200 US ISM Non-Manufacturing PMI (Jul)
• 2230 US Crude Oil Inventories

04 Aug, Thu

• 0930 Australia Balance of Trade (Jun)
• 1900 UK BoE Interest Rate Decision (Aug)
• 1900 UK BoE Gov Bailey Speaks  
• 2030 US Initial Jobless Claims
• 2030 US Balance of Trade (Jun)
• 2030 Canada Balance of Trade (Jun)

05 Aug, Fri

• 0930 Australia RBA Statement on Monetary Policy
• 2030 US Nonfarm Payrolls (Jul)
• 2030 US Unemployment Rate (Jul)
• 2030 Canada Employment Change (Jul)
• 2200 Canada Ivey PMI (Jul)

07 Aug, Sun

• 1100 China Balance of Trade (Jul)