US Markets 05 Oct 24

The US market broke the previous week's low and recovered to close higher.  The Dow and S&P closed with historic highs.
The Nasdaq trend turned from Neutral to an uptrend, and the Russell trend turned from Neutral to a downtrend.

While BDI reversed to close lower, Harpex continued to close lower, CDFI closed higher, and CCFI was closed for a long holiday.

The dollar index recovered to close higher and resisted at 102.3.

Watch out for

• New Zealand Interest Rate Decision
• US CPI 
• US FOMC Meeting Minutes

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

Neutral 

• None

DT 

• Russell

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, 6,045

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

Nasdaq
Daily UT, Weekly UT

Potential resistance around 20,709, 21,431

Potential support around 19,986, 19,264, 18,542, 17,819, 17,097

Russell
Daily DT, 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)

07 Oct, Mon

• China on holiday

08 Oct, Tue

• 0830 Australia RBA Meeting Minutes

09 Oct, Wed

• 0900 New Zealand RBNZ Interest Rate Decision

10 Oct, Thu

• 0100 US 10-Year Note Auction
• 0200 US FOMC Meeting Minutes
• 2030 US Core CPI (MoM) (Sep)
• 2030 US CPI (MoM) (Sep)
• 2030 US Initial Jobless Claims

11 Oct, Fri

• Hong Kong on holiday
• 0100 US 30-Year Bond Auction
• 1400 UK GDP (MoM) (Aug)
• 1400 UK Industrial Production (MoM) (Aug)
• 1400 Germany CPI (MoM) (Sep)
• 2030 US Core PPI (MoM) (Sep)
• 2030 US PPI (MoM) (Sep)
• 2030 Canada Employment Change (Sep)
• 2030 Canada Unemployment Rate (Sep)
• 2200 US Michigan Consumer Sentiment (Oct)