US Markets 18 Jul 26

The US market and dollar index are consolidating and closed lower.
The Nasdaq daily trend turned to Neutral.

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

Watch out for

• Interest rate decision by Europe
• Preliminary manufacturing and services PMI from multiple countries

Instruments that show buying interest (3) from Dealer/Intermediary (sell-side participants)

UT 

• None

Neutral 

• Nasdaq

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 52,533, 54,662

Potential support around 50,403, 48,273, 46,144

S&P
Daily UT, Weekly UT

Potential resistance around 7,458, 7,693

Potential support around 7,222, 6,987, 6,751

Nasdaq
Daily Neutral, Weekly UT

Potential resistance around 29,378, 30,100, 30,822

Potential support around 28,655, 27,933, 27,210

Russell
Daily UT, Weekly UT

Potential resistance around  3,081

Potential support around 2,951, 2,821, 2,691

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

20 Jul, Mon

• Japan on holiday
• 0915 China PBoC Loan Prime Rate
• 2030 Canada Core CPI (MoM) (Jun)
• 2030 Canada CPI (MoM) (Jun)

21 Jul, Tue

• 1400 UK Unemployment Rate (May)
• 1400 UK Claimant Count Change (Jun)
• 1700 Europe ZEW Economic Sentiment (Jul)
• 1700 Germany ZEW Economic Sentiment (Jul)
• 2015 US ADP Employment Change Weekly  

22 Jul, Wed

• 1400 UK CPI (YoY) (Jun)
• 2230 US Crude Oil Inventories

23 Jul, Thu

• 0930 Australia Unemployment Rate (Jun)
• 0930 Australia Employment Change (Jun)
• 2015 Europe ECB Interest Rate Decision (Jul)
• 2015 Europe Deposit Facility Rate (Jul)
• 2030 Canada Retail Sales (MoM) (May)
• 2030 Canada Core Retail Sales (MoM) (May)
• 2030 US Initial Jobless Claims
• 2045 Europe ECB Press Conference

24 Jul, Fri

• 0730 Japan National Core CPI (YoY) (Jun)
• 0730 Japan National CPI (YoY) (Jun)
• 1400 UK Retail Sales (YoY) (Jun)
• 1400 UK Core Retail Sales (YoY) (Jun)
• 1530 Germany HCOB Manufacturing PMI (Jul) ^P
• 1530 Germany HCOB Services PMI (Jul) ^P
• 1600 Europe HCOB Manufacturing PMI (Jul) ^P
• 1600 Europe HCOB Services PMI (Jul) ^P
• 1600 UK S&P Global Services PMI (Jul) ^P
• 1600 UK S&P Global Manufacturing PMI (Jul) ^P
• 2030 US Building Permits (Jun)
• 2145 US S&P Global Services PMI (Jul) ^P
• 2145 US S&P Global Manufacturing PMI (Jul) ^P
• 2200 US New Home Sales (Jun)

^P: Preliminary Release