US Markets 30 Sep 2023

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

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

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

Watch out for

• Interest Rate Decision by Australia and New Zealand
• Speech by US Fed Chair Powell
• Multiple countries reporting Manufacturing PMI and Services PMI
• US NFP
• China Golden Week Holiday

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 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 1,910, 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)

02 Oct, Mon

• China and Hong Kong on holiday
• 0750 Japan Tankan Large Manufacturers Index (Q3)
• 1555 German HCOB Manufacturing PMI (Sep)
• 1600 Europe HCOB Manufacturing PMI (Sep)
• 1700 Europe Unemployment Rate (Aug)
• 2130 Canada S&P Global Manufacturing PMI (Sep)
• 2200 US ISM Manufacturing PMI (Sep)
• 2300 US Fed Chair Powell Speaks

03 Oct, Tue

• China on holiday
• 1130 Australia RBA Interest Rate Decision (Oct)
• 2200 US JOLTs Job Openings (Aug)

04 Oct, Wed

• China on holiday
• 0900 New Zealand RBNZ Interest Rate Decision
• 1555 German HCOB Services PMI (Sep)
• 1600 Europe HCOB Services PMI (Sep)
• 1700 Europe Retail Sales YoY (Aug)
• 2015 US ADP Nonfarm Employment Change (Sep)
• 2145 US S&P Global Services PMI (Sep)
• 2200 US ISM Non-Manufacturing PMI (Sep)
• 2230 US Crude Oil Inventories

05 Oct, Thu

• China on holiday
• 2030 US Initial Jobless Claims
• 2200 Canada Ivey PMI s.a (Sep)

06 Oct, Fri

• China on Holiday
• 0830 Australia Retail Sales MoM (Aug)
• 2030 US Average Hourly Earnings (MoM) (Sep)
• 2030 US Nonfarm Payrolls (Sep)
• 2030 US Unemployment Rate (Sep)
• 2030 Canada Unemployment Rate (Sep)