US Market 27 Aug 2022

US market broke hlf (higher low formation) on the weekly chart and slumped.

BDI, Harpex, CCFI and CDFI closed lower for another week.

The dollar index closed higher.

Watch out for

• CPI and Manufacturing PMI data from multiple countries
• US NFP

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

UT 

• S&P (1)
• Russell

Neutral 

• Nobe

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 33,365, 35,495, 37,625

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

S&P
Daily UT, Weekly DT

Potential resistance around 4,161, 4,396, 4,632, 4,867

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

Nasdaq
Daily UT, Weekly DT

Potential resistance around 12,762, 13,485, 14,207, 14,930, 15,652

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

Russell
Daily UT, Weekly DT
Potential resistance around 1,910, 2,040, 2,170, 2,300, 2,430

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

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

29 Aug, Mon

• UK holiday
• 0930 Australia Retail Sales (MoM) (Jul)

30 Aug, Tue

• 2000 German Inflation Rate YoY (Aug) 
• 2200 US CB Consumer Confidence (Aug)
• 2200 US JOLTs Job Openings (Jul)

31 Aug, Wed

• 0930 China Manufacturing PMI (Aug)
• 1555 German Unemployment Change (Aug)
• 1700 Europe CPI (YoY) (Aug)
• 2015 US ADP Nonfarm Employment Change
• 2030 Canada GDP (MoM) (Jun)
• 2230 US Crude Oil Inventories

01 Sep, Thu

• 0945 China Caixin Manufacturing PMI (Aug)
• 1555 German Manufacturing PMI (Aug)
• 1600 Europe Manufacturing PMI (Aug)
• 1630 UK Manufacturing PMI (Aug)
• 1700 Europe Unemployment Rate (Jul)
• 2030 US Initial Jobless Claims
• 2200 US ISM Manufacturing PMI (Aug)

02 Sep, Fri

• 2030 US Nonfarm Payrolls (Aug)
• 2030 US Unemployment Rate (Aug)