US Markets 24 Aug 24

The US market closed higher. The Dow and S&P are testing historic highs.
On the daily chart, Nasdaq's neutral turned uptrend.

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

The dollar index broke the higher-low formation and closed lower.

Watch out for

• GDP and CPI data  by multiple countries 

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 

• S&P

Neutral 

• None

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 UT, Weekly UT
Potential resistance around 41,884

Potential support around 39,754, 37,625, 35,495, 33,365, 31,236

S&P
Daily UT, Weekly UT

Potential resistance around 5,809

Potential support around 5,574, 5,338, 5,103, 4,867, 4,632

Nasdaq
Daily UT, Weekly UT

Potential resistance around 19,986, 20,709

Potential support around 19,264, 18,542,17,819, 17,097, 16,374

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

Potential support around 2,170, 2,040, 1,910, 1,779, 1,649

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

26 Aug, Mon

• UK on holiday
• 2030 US Durable Goods Orders (MoM) (Jul)

27 Aug, Tue

• 1400 German GDP (QoQ) (Q2)
• 2200 US CB Consumer Confidence (Aug)

28 Aug, Wed

• 2230 US Crude Oil Inventories

29 Aug, Thu

• 2000 German CPI (MoM) (Aug) 
• 2030 US GDP (QoQ) (Q2)   
• 2030 US Initial Jobless Claims

30 Aug, Fri

• 0930 Australia Retail Sales (MoM) (Jul)
• 1700 Europe CPI (YoY) (Aug)
• 1700 Europe Unemployment Rate (Jul)
• 2030 US Core PCE Price Index (YoY) (Jul)
• 2030 US Personal Spending (MoM) (Jul)
• 2030 Canada GDP (Q2)
• 2145 US Chicago PMI (Aug)