US Markets 20 Sep 25

The US market closed at historic highs.

While BDI and CDFI continued to close higher, Harpex reversed to close lower, and CCFI closed lower.

The dollar index tested 96.3 support, rebounded to the consolidation range and closed higher.

Watch out for

• Manufacturing and Services PMI from multiple countries
• Speech by Fed Chair Powell 
• Interest Rate Decision by Switzerland 
• US and Canada GDP

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 

• 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 48,273

Potential support around 46,144, 44,014, 41,884, 39,754

S&P
Daily UT, Weekly UT

Potential resistance around 6,751

Potential support around 6,516, 6,280, 6,045, 5,809

Nasdaq
Daily UT, Weekly UT

Potential resistance around 25,043

Potential support around 24,321, 23,598, 22,876,22,154

Russell
Daily UT, Weekly UT
Potential resistance around 2,561, 2,691

Potential support around  2,430, 2,300, 2,170, 2,040

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

22 Sep, Mon

• 0915 China PBoC Loan Prime Rate

23 Sep, Tue

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

24 Sep, Wed

• 0035 US Fed Chair Powell Speech 
• 1300 Japan BoJ Core CPI (YoY)
• 1600 Germany Ifo Business Climate Index (Sep)
• 2030 US Building Permits (Aug)
• 2200 US New Home Sales (Aug)
• 2230 US Crude Oil Inventories

25 Sep, Thu

1. 0750 Japan Monetary Policy Meeting Minutes  
2. 1530 Switzerland SNB Interest Rate Decision (Q3)
3. 2030 US Core Durable Goods Orders (MoM) (Aug)
4. 2030 US Durable Goods Orders (MoM) (Aug)
5. 2030 US GDP (QoQ) (Q2)
6. 2030 US Initial Jobless Claims
7. 2200 US Existing Home Sales (Aug)

26 Sep, Fri

• 2030 US Core PCE Price Index (YoY) (Aug)
• 2030 US PCE Price Index (YoY) (Aug)
• 2030 Canada GDP (MoM) (Jul)
• 2200 US Michigan Consumer Sentiment (Sep)