US Markets 22 Jul 2023

The US market closed higher, except Nasdaq closed lower.

BDI, CDFI, Harpex and CCFI closed lower.

The dollar index broke pwl (previous week's low) and rebounded to close higher.

Watch out for

• Interest rate decision by US, Europe and Japan
• Manufacturing PMI and CPI data by multiple countries

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

UT 

• None

Neutral 

• None

DT 

• None

Instruments that show selling interest at extreme (2) by Dealer/Intermediary (sell-side participants)
UT 

• S&P
• Nasdaq

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 Averages.

Dow
Daily UT, Weekly UT
Potential resistance around 35,495, 37,625, 39,754
Potential support around 33,365, 31,236, 29,106, 26,976

S&P
Daily UT, Weekly UT

Potential resistance around 4,632, 4,867, 5,103

Potential support around 4,396, 4,161, 3,925, 3,690, 3,454

Nasdaq
Daily UT, Weekly UT

Potential resistance around 15,652, 16,374, 17,097

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

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

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

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

24 Jul, Mon

• 1530 German HCOB Manufacturing PMI (Jul) 
• 1600 Europe HCOB Manufacturing PMI (Jul) 
• 1630 UK S&P Global/CIPS Manufacturing PMI  
• 2145 US S&P GlobalManufacturing PMI 
• 2145 US S&P Global US Services PMI (Jul)   

25 Jul, Tue

• 2200 US CB Consumer Confidence (Jul)

26 Jul, Wed

• 0930 Australia CPI (Q2)
• 2000 US Building Permits
• 2200 US New Home Sales (Jun)
• 2230 US Crude Oil Inventories

27 Jul, Thu

• 0200 US Fed Interest Rate Decision
• 0230 US FOMC Press Conference
• 2015 Europe Deposit Facility Rate (Jul)
• 2015 Europe ECB Interest Rate Decision (Jul)
• 2030 US Core Durable Goods Orders (MoM) (Jun)
• 2030 US GDP (QoQ) (Q2)
• 2030 US Initial Jobless Claims
• 2045 Europe ECB Press Conference  
• 2200 US Pending Home Sales (MoM) (Jun)

28 Jul, Fri

• 0930 Australia Retail Sales MoM (Jun) 
• 1100 Japan BoJ Interest Rate Decision
• 2000 German CPI (MoM) (Jul)
• 2030 US Core PCE Price Index (MoM) (Jun)
• 2200 US Michigan Consumer Sentiment (Jul)