US Market 24 Sep 2022

US market closed lower. S&P, Nasdaq and Russell tested Jun's low while Dow broke and closed below Jun's low.

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

The Dollar Index broke strong trend resistance.

Watch out for

• Speech by Japan BoJ Kuroda, New Zealand RBNZ Gov Orr, Europe ECB President Lagarde, and Europe ECB Guindos.
• GDP by multiple countries.
• China Manufacturing PMI 

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

UT 

• Russell

Neutral 

• S&P
• Nasdaq

DT 

• Dow

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 DT, Weekly DT
Potential resistance around 31,236, 33,365, 35,495, 37,625

Potential support around 29,106, 26,976, 24,847

S&P
Daily Neutral, Weekly DT

Potential resistance around 3,925, 4,161, 4,396, 4,632, 4,867

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

Nasdaq
Daily Neutral, Weekly DT

Potential resistance around 12,040, 12,762, 13,485, 14,207, 14,930

Potential support around 11,318, 10,595, 9,873, 9,150

Russell
Daily UT, Weekly DT
Potential resistance around 1,779, 1,910, 2,040, 2,170, 2,300

Potential support around 1,649, 1,519, 1,389, 1,2591

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

26 Sep, Mon

• 1330 Japan BoJ Kuroda Speech
• 1400 German GDP (QoQ) (Q3)
• 1500 Europe ECB Guindos Speech 
• 1600 German Ifo Business Climate Index (Sep)
• 2100 Europe ECB President Lagarde Speaks

27 Sep, Tue

• 1930 Europe ECB President Lagarde Speaks
• 2030 US Core Durable Goods Orders (MoM) (Aug)
• 2200 US CB Consumer Confidence (Sep)
• 2200 US New Home Sales (Aug)

28 Sep, Wed

• 0930 Australia Retail Sales (MoM) (Aug)
• 1515 Europe ECB President Lagarde Speaks 
• 2030 US Goods Trade Balance (Aug) 
• 2200 US Pending Home Sales (MoM) (Aug)
• 2230 US Crude Oil Inventories

29 Sep, Thu

• 1600 Europe ECB Guindos Speech 
• 2030 US GDP (QoQ) (Q2)
• 2030 US Initial Jobless Claims
• 2030 Canada GDP (MoM) (Jul)
• 2100 New Zealand RBNZ Gov Orr Speaks

30 Sep, Fri

• 0930 China Manufacturing PMI (Sep)
• 0945 China Caixin Manufacturing PMI (Sep)
• 1400 UK GDP (QoQ)
• 1555 German Unemployment Change (Sep)
• 1700 Europe CPI (YoY) (Sep)
• 2030 US Core PCE Price Index (MoM) (Aug)
• 2200 US Michigan Consumer Sentiment (Sep)