US Markets 26 Aug 2023

The US market closed mixed. While Dow and Russell closed lower, S&P and Nasdaq closed higher.

BDI, Harpex and CDFI closed lower, but CCFI went against the odds and closed higher.

The dollar index continued to close higher. It broke the 103.6 resistance and TLD1 trend resistance.

Watch out for

• Manufacturing PMI by multiple countries
• US NFP

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 

• None

Neutral 

• S&P

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 Neutral, 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 Neutral, 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 Neutral, 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 DT, 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)

28 Aug, Mon

• UK on holiday
• No important data

29 Aug, Tue

• 2200 US CB Consumer Confidence (Aug)
• 2200 US JOLTs Job Openings (Jul)

30 Aug, Wed

• 2000 German CPI (MoM) (Aug)
• 2015 US ADP Nonfarm Employment Change (Aug)
• 2030 US GDP (QoQ) (Q2)
• 2200 US Pending Home Sales (MoM) (Jul)
• 2230 US Crude Oil Inventories

31 Aug, Thu

• 0930 China Manufacturing PMI (Aug)
• 1400 German Retail Sales YoY (Jul)
• 1430 Switzerland Retail Sales YoY (Jul)
• 1555 German Unemployment Rate (Jul)
• 1700 Europe CPI (YoY) (Aug)  
• 1700 Europe Unemployment Rate (Jul)
• 2030 US Core PCE Price Index (MoM) (Jul)
• 2030 US Initial Jobless Claims

01 Sep, Fri

• 0945 China Caixin Manufacturing PMI (Aug)
• 1555 German HCOB Manufacturing PMI (Aug)
• 1600 Europe HCOB Manufacturing PMI (Aug)
• 1630 UK S&P Global/CIPS Manufacturing PMI (Aug)
• 2030 Canada GDP Growth Rate QoQ (Q2)
• 2030 US Average Hourly Earnings (MoM) (Aug)
• 2030 US Nonfarm Payrolls (Aug)
• 2030 US Unemployment Rate (Aug)
• 2200 US ISM Manufacturing PMI (Aug)
• 2200 US ISM Manufacturing Prices (Aug)