US Markets 07 Oct 2023

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

While Harpex continued to close lower, BDI continued to close higher. CDFI and CCFI are closed for a long holiday.

The dollar index closed lower. It tested TLU2 trend resistance again and failed to hold above it. 

Watch out for

• US FOMC Meeting Minutes
• Multiple countries reporting CPI data

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

UT 

• None

Neutral 

• None

DT 

• Dow

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

• None

Neutral 

• None

DT 

• S&P

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 DT, 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 DT, 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 DT, 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 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, 1,259

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

09 Oct, Mon

• Canada and Japan on holiday
• No important data

10 Oct, Tue

• No important data

11 Oct, Wed

• 1400 German CPI (MoM) (Sep)
• 2030 US PPI (MoM) (Sep)

12 Oct, Thu

• 0200 US FOMC Meeting Minutes
• 1400 UK GDP (MoM) (Aug)
• 2030 US Core CPI (MoM) (Sep)
• 2030 US CPI (MoM) (Sep)
• 2030 US Initial Jobless Claims
• 2300 US Crude Oil Inventories

13 Oct, Fri

• 0930 China CPI (MoM) (Sep)
• 2200 US Michigan Consumer Sentiment