US Markets 21 Sep 24

The US market closed higher. The Dow and S&P closed with historic highs.
The S&P trend turned from Neutral to uptrend.

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

The dollar index closed lower below the consolidating support level.

Watch out for

• Manufacturing and Services PMI data  by multiple countries
• Australia and Switzerland interest rate decision
• US GDP
• Speech by 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 

• Dow
• S&P
• Russell

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 44,014

Potential support around 41,884, 39,754, 37,625, 35,495, 33,365

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 DT, 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)

23 Sep, Mon

• Japan on holiday
• 1530 Germany HCOB Manufacturing PMI (Sep)
• 1530 Germany HCOB Services PMI (Sep)
• 1600 Europe HCOB Manufacturing PMI (Sep)
• 1600 Europe HCOB Services PMI (Sep)
• 1630 UK S&P Global/CIPS UK Manufacturing PMI (Sep) 
• 1630 UK S&P Global/CIPS UK Services PMI (Sep)  
• 2145 US S&P Global US Manufacturing PMI (Sep)  
• 2145 US S&P Global US Services PMI (Sep)  

24 Sep, Tue

• 1230 Australia RBA Interest Rate Decision (Sep)
• 2200 US CB Consumer Confidence (Sep)

25 Sep, Wed

• 2200 US New Home Sales (Aug)
• 2230 US Crude Oil Inventories

26 Sep, Thu

• 1530 Switzerland SNB Interest Rate Decision (Q3)
• 2030 US Durable Goods Orders (MoM) (Aug)
• 2030 US GDP (QoQ) (Q2)
• 2030 US Initial Jobless Claims
• 2120 US Fed Chair Powell Speaks

27 Sep, Fri

• 2030 US Core PCE Price Index (MoM) (Aug)
• 2030 US Personal Spending (MoM) (Aug)
• 2200 US Michigan Consumer Sentiment (Sep)