US Market 10 Sep 2022

US market broke pwl (previous week low) and recovered to close higher.  S&P and Nasdaq closed with an outside day on the weekly chart.

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

The dollar index closed lower.

Watch out for

• Speech by Europe ECB Guindos
• CPI by multiple countries
• UK Interest Rate Decision

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)

12 Sep, Mon

• Hong Kong and China holiday
• 1400 UK GDP (MoM)
• 1400 UK Manufacturing Production (MoM) (Jul)
• 1530 Europe ECB Guindos Speech

13 Sep, Tue

• 1400 UK Unemployment Rate (Jul)
• 1400 UK Claimant Count Change (Aug)
• 1700 German ZEW Economic Sentiment (Sep)
• 2030 US Core CPI (MoM) (Aug)
• 2030 US CPI (YoY) (Aug)

14 Sep, Wed

• 1400 UK CPI (YoY) (Aug)
• 2030 US PPI (MoM) (Aug)
• 2230 US Crude Oil Inventories

15 Sep, Thu

• 0645 New Zealand GDP (QoQ) (Q2)
• 0750 Japan Balance of Trade (Aug)
• 0930 Australia Employment Change (Aug)
• 1715 Europe ECB Guindos Speech
• 1900 UK BoE Interest Rate Decision (Sep)
• 1900 UK BoE MPC Meeting Minutes
• 2030 US Core Retail Sales (MoM) (Aug)
• 2030 US Initial Jobless Claims
• 2030 US Philadelphia Fed Manufacturing Index (Sep)
• 2030 US Retail Sales (MoM) (Aug)

16 Sep, Fri

• 1000 China Industrial Production (YoY) (Aug)
• 1400 UK Retail Sales (MoM) (Aug)
• 1700 Europe CPI (YoY) (Aug)