US Markets 31 Aug 24

The US market closed mixed. While the Dow and S&P closed higher, Nasdaq and Russell closed lower. The Dow closed at a historic high. On the daily chart, Nasdaq's uptrend turned neutral.

While BDI and CDFI closed higher, Harpex remained the same, and CCFI closed lower.

The dollar index broke the previous week's low and recovered to close higher. It resisted at TLU1.

Watch out for

• Manufacturing PMI and Services PMI data  by multiple countries
• Canada's interest rate decision
• US NFP

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
• 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 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 Neutral, 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)

02 Sep, Mon

• US and Canada on holiday
• 0945 China Caixin Manufacturing PMI (Aug)
• 1555 Germany HCOB Manufacturing PMI (Aug)
• 1600 Europe HCOB Manufacturing PMI (Aug)
• 1630 UK S&P Global/CIPS UK Manufacturing PMI (Aug)

03 Sep, Tue

• 2145 US S&P Global US Manufacturing PMI (Aug)
• 2200 US ISM Manufacturing PMI (Aug)

04 Sep, Wed

• 0930 Australia GDP (YoY) (Q2)
• 0945 China Caixin Services PMI (Aug)
• 1555 Germany HCOB Services PMI (Aug)
• 1600 Europe HCOB Services PMI (Aug)
• 1630 UK S&P Global/CIPS UK Services PMI (Aug)
• 2145 Canada BoC Interest Rate Decision
• 2200 US JOLTs Job Openings (Jul)

05 Sep, Thu

• 2015 US ADP Nonfarm Employment Change (Aug)
• 2030 US Initial Jobless Claims
• 2145 US S&P Global Services PMI (Aug)
• 2200 US ISM Non-Manufacturing PMI (Aug)
• 2300 US Crude Oil Inventories

06 Sep, Fri

• 1700 Europe GDP (YoY) (Q2)
• 2030 US Average Hourly Earnings (MoM) (Aug)
• 2030 US Nonfarm Payrolls (Aug)
• 2030 US Unemployment Rate (Aug)
• 2030 Canada Unemployment Rate (Aug)
• 2200 Canada Ivey PMI (Aug)