US Markets 12 Aug 2023

The US market closed lower, except the Dow closed higher.

CCFI and CDFI closed higher; in contrast, BDI and Harpex closed lower.

The dollar index continued to close higher for four consecutive weeks. It tested 102.3 resistance and closed above it.

Watch out for

• CPI data by multiple countries
• US FOMC Meeting Minutes 

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

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, 17,819

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

Russell
Daily UT, Weekly Neutral
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)

14 Aug, Mon

• No important data

15 Aug, Tue

• 0750 Japan GDP (QoQ) (Q2) 
• 1000 China Retail Sales YoY (Jul)
• 1000 China Industrial Production YoY (Jul)
• 1400 UK Unemployment Rate (Jun)
• 1400 UK Claimant Count Change (Jul)
• 2030 US Core Retail Sales (MoM) (Jul)
• 2030 US Retail Sales (MoM) (Jul)
• 2030 Canada Core CPI (MoM) (Jul)
• 2030 Canada CPI (MoM) (Jul)

16 Aug, Wed

• 1000 New Zealand RBNZ Interest Rate Decision
• 1400 UK CPI (YoY) (Jul)
• 1700 Europe Employment Change YoY (Q2) 
• 2030 US Building Permits (Jul)  
• 2230 US Crude Oil Inventories

17 Aug, Thu

• 0200 US FOMC Meeting Minutes  
• 0930 Australia Unemployment Rate (Jul)
• 2030 US Initial Jobless Claims
• 2030 US Philadelphia Fed Manufacturing Index (Aug)

18 Aug, Fri

• 1700 Europe CPI (YoY) (Jul)