US Market 20 Aug 2022

US market broke pwh (previous week high) and reversed to close lower.

BDI, Harpex, CCFI and CDFI continue to close lower.

The dollar index broke consolidation resistance and closed higher.

Watch out for

• China PBoC Loan Prime Rate
• Manufacturing PMI  from multiple countries
• US GDP
• Fed Chair Powell Speech 
• 3-Days Jackson Hole Economic Symposium

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

UT 

• Dow
• S&P (1)
• Russell

Neutral 

• Bobe

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 UT, Weekly DT
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 DT

Potential resistance around 4,396, 4,632, 4,867

Potential support around 4,161, 3,925, 3,690, 3,454, 3,219, 2,983

Nasdaq
Daily UT, Weekly DT

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

Potential support around 12,762, 12,040, 11,318, 10,856

Russell
Daily UT, Weekly DT
Potential resistance around 2,040, 2,170, 2,300, 2,430

Potential support around 1,910, 1,779, 1,649, 1,519, 1,389

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

22 Aug, Mon

• 2115 China PBoC Loan Prime Rate

23 Aug, Tue

• 1530 German Manufacturing PMI (Aug)
• 1600 Europe Manufacturing PMI (Aug)
• 1630 UK Manufacturing PMI
• 1630 UK Services PMI
• 2145 US Manufacturing PMI (Aug)
• 2200 US New Home Sales (Jul)

24 Aug, Wed

• 2030 US Core Durable Goods Orders (MoM) (Jul)
• 2230 US Crude Oil Inventories

25 Aug, Thu

• 0645 New Zealand Retail Sales (Q2)
• 0800 US Jackson Hole Economic Symposium
• 1400 German GDP (QoQ) (Q2)
• 1600 German Ifo Business Climate Index (Aug)
• 1930 Europe ECB Publishes Account of Monetary Policy Meeting 
• 2030 US GDP (QoQ) (Q2)
• 2030 US Initial Jobless Claims

26 Aug, Fri

• 0800 US Jackson Hole Economic Symposium
• 2030 US Core PCE Price Index (MoM) (Jul)
• 2030 US Personal Spending MoM (Jul)
• 2030 US Goods Trade Balance (Jul) 
• 2200 US Michigan Consumer Sentiment (Aug)
• 2200 US Fed Chair Powell Speech 

27 Aug, Sat

• 0800 US Jackson Hole Economic Symposium