US Markets 23 Sep 2023

The US market closed lower.

Harpex and CCFI continued to close lower, while CDFI and BDI continued to close higher. 

The dollar index broke lower-high formation on the weekly chart and closed higher.

Watch out for

• US and UK reporting GDP
• China reporting Caixin Manufacturing and Services PMI
• Speech by US 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 

• None

Neutral 

• S&P
• Nasdaq

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 4,396, 4,632, 4,867, 5,103

Potential support around 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 UT
Potential resistance around 1,779, 1,910, 2,040, 2,170, 2,300

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

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

25 Sep, Mon

• No important data

26 Sep, Tue

• 2200 US CB Consumer Confidence (Sep)
• 2200 US New Home Sales (Aug)

27 Sep, Wed

• 2030 US Core Durable Goods Orders (MoM) (Aug)
• 2230 US Crude Oil Inventories

28 Sep, Thu

• 2000 German CPI (MoM) (Sep)
• 2030 US GDP (QoQ) (Q2)
• 2030 US Initial Jobless Claims
• 2200 US Pending Home Sales (MoM) (Aug)

29 Sep, Fri

• China on Holiday
• 0400 US Fed Chair Powell Speaks
• 1400 UK GDP (YoY) (Q2)
• 1700 Europe CPI (Sep) 
• 2030 US Core PCE Price Index (YoY) (Aug)
• 2200 US Michigan Consumer Sentiment (Sep)

30 Sep, Sat

• 0945 China Caixin Manufacturing PMI (Sep)
• 0945 China Caixin Services PMI (Sep)