US Markets 19 Aug 2023

The US market closed lower.

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

The dollar index continued to close higher. It tested TLD1  trend resistance and closed below.

Watch out for

• Manufacturing PMI by multiple countries
• 3-day Jackson Hole Symposium
• Speech by Fed Chair Powell

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 4,396, 4,632, 4,867, 5,103

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

Nasdaq
Daily UT, Weekly UT

Potential resistance around 14,930, 15,652, 16,374, 17,097, 17,819

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

Russell
Daily Neutral, Weekly Neutral
Potential resistance around 1,910, 2,040, 2,170, 2,300

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

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

21 Aug, Mon

• No important data

22 Aug, Tue

• 2200 US Existing Home Sales (Jul)

23 Aug, Wed

• 1530 German HCOB Manufacturing PMI (Aug) 
• 1600 Europe HCOB Manufacturing PMI (Aug) 
• 1630 UK S&P Global/CIPS Manufacturing PMI (Aug) 
• 2000 US Existing Home Sales (Jul)
• 2030 Canada Retail Sales MoM (Jun)
• 2145 US S&P Global US Services PMI (Aug)  
• 2145 US S&P Global Manufacturing PMI (Aug) 
• 2200 US New Home Sales (Jul)
• 2230 US Crude Oil Inventories

24 Aug, Thu

• 0800 US Jackson Hole Symposium
• 2030 US Initial Jobless Claims
• 2030 US Core Durable Goods Orders (MoM) (Jul)

25 Aug, Fri

• 0800 US Jackson Hole Symposium
• 1400 German GDP (QoQ) (Q2)
• 2200 US Michigan Consumer Sentiment (Aug)
• 2205 US Fed Chair Powell Speaks

26 Aug, Sat

• 0300 Europe ECB President Lagarde Speech
• 0800 US Jackson Hole Symposium