US Market 03 Sep 2022

US market continues to close lower.

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

The dollar index closed higher.

Watch out for

• Interest rate decisions by Australia, Canada, and Europe
• Speech by Fed Chair Powell 
• GDP data from multiple countries

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

UT 

• Dow
• 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)

05 Sep, Mon

• Canada and US holiday
• 0930 Australia Retail Sales (MoM) (Jul)
• 0945 China Caixin Services PMI (Aug)
• 1600 Europe Services PMI (Aug)
• 1630 UK Services PMI (Aug)
• 1700 Europe Retail Sales YoY (Jul)

06 Sep, Tue

• 1230 Australia RBA Interest Rate Decision (Sep)
• 1230 Australia RBA Rate Statement
• 2200 US ISM Non-Manufacturing PMI (Aug)

07 Sep, Wed

• 0930 Australia GDP (QoQ) (Q2)
• 1100 China Balance of Trade (Aug)
• 1700 Europe GDP (QoQ) (Q2)  
• 2030 US Balance of Trade (Jul)
• 2200 Canada BoC Interest Rate Decision
• 2200 Canada Ivey PMI (Aug)
• 2215 UK BoE MPC Treasury Committee Hearings

08 Sep, Thu

• 0750 Japan GDP (QoQ) (Q2)
• 0930 Australia Balance of Trade (Jul)
• 2015 Europe ECB Interest Rate Decision (Sep)
• 2015 Europe ECB Monetary Policy Statement  
• 2030 US Initial Jobless Claims
• 2045 Europe ECB Press Conference  
• 2110 US Fed Chair Powell Speaks 
• 2300 US Crude Oil Inventories

09 Sep, Fri

• 0930 China CPI (YoY) (Aug)
• 0930 China PPI (YoY) (Aug)
• 2030 Canada Employment Change (Aug)