US Markets 10 Aug 24

The US market closed lower with a +roc (closing price > opening price) on the weekly chart. On the daily chart, while the Nasdaq turned to a downtrend, the S&P and Russell turned neutral.

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

The dollar index edged lower with a small +roc (closing price > opening price) on the weekly chart.

Watch out for

• GDP data  by multiple countries
• Interest Rate Decision by New Zealand
• UK and US CPI and retail sales data

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
• Russell

DT 

• Nasdaq

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 39,754, 41,884

Potential support around 37,625, 35,495, 33,365, 31,236

S&P
Daily Neutral, Weekly UT

Potential resistance around 5,574, 5,809

Potential support around 5,338, 5,103, 4,867, 4,632, 4,396

Nasdaq
Daily DT, Weekly UT

Potential resistance around 18,542, 19,264, 19,986, 20,709

Potential support around 17,819, 17,097, 16,374, 15,652

Russell
Daily Neutral, Weekly UT
Potential resistance around  2,170, 2,300, 2,430,

Potential support around 2,040, 1,910, 1,779, 1,649, 1,519

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

12 Aug, Mon

• No important data

13 Aug, Tue

• 1400 UK Unemployment Rate (Jun)
• 1400 UK Average Earnings Index +Bonus (Jun)
• 1700 German ZEW Economic Sentiment (Aug)
• 2030 US PPI (MoM) (Jul)
• 2030 US Core PPI (MoM) (Jul)

14 Aug, Wed

• 1000 New Zealand RBNZ Interest Rate Decision
• 1400 UK CPI (YoY) (Jul)
• 1700 Europe GDP (YoY) (Q2)  
• 2030 US Core CPI (MoM) (Jul)
• 2030 US CPI (MoM) (Jul)
• 2230 US Crude Oil Inventories

15 Aug, Thu

• 0750 Japan GDP (QoQ) (Q2) 
• 0930 Australia Unemployment Rate (Jul)
• 1000 China Industrial Production (YoY) (Jul)
• 1400 UK GDP (QoQ) (Q2)  
• 1400 UK Monthly GDP 3M/3M Change (Jun)
• 2030 US Core Retail Sales (MoM) (Jul)
• 2030 US Retail Sales (MoM) (Jul)
• 2030 US Initial Jobless Claims
• 2030 US Philadelphia Fed Manufacturing Index (Aug)

16 Aug, Fri

• 1400 UK Core Retail Sales (YoY) (Jul)
• 1400 UK Retail Sales (YoY) (Jul)
• 2030 US Building Permits (Jul)  
• 2200 US Michigan Consumer Sentiment (Aug)