US Markets 22 Aug 26

The US market broke the previous week's low and closed lower. Nasdaq daily trend turned up.

After testing 99.8 resistance twice over the last two weeks, the dollar index continued to close lower, slightly above the 98.7 support level.

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

Watch out for

• US GDP
• Jackson Hole Symposium 
• Speech by Fed Warsh

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

UT 

• Nasdaq
• Russell

Neutral 

• None

DT 

• None

Instruments that show selling interest at extreme (2) by Dealer/Intermediary (sell-side participants)
UT 

• Dow

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 54,662, 56,792

Potential support around 52,533, 50,403, 48,273

S&P
Daily UT, Weekly UT

Potential resistance around 7,693, 7,929

Potential support around 7,458, 7,222, 6,987

Nasdaq
Daily UT, 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, 3,212

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

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

24 Aug, Mon

• No important data

25 Aug, Tue

• 0930 Australia RBA Meeting Minutes
• 1300 Japan BoJ Core CPI (YoY) 
• 1400 Germany GDP (QoQ) (Q2)
• 2200 US CB Consumer Confidence (Aug)
• 2200 US New Home Sales (Jul)

26 Aug, Wed

• 0930 Australia CPI (Jul)
• 2030 US Core PCE Price Index (YoY) (Jul)
• 2030 US GDP (QoQ) (Q2) ^P
• 2030 US Durable Goods Orders (MoM) (Jul) ^P
• 2230 US Crude Oil Inventories

27 Aug, Thu

• 0800 US Jackson Hole Symposium 
• 2030 US Initial Jobless Claims

28 Aug, Fri

• 0800 US Jackson Hole Symposium 
• 2200 US Michigan Consumer Sentiment (Aug)
• 2200 US Fed Warsh Speaks

29 Aug, Sat

• 0800 US Jackson Hole Symposium 

^P: Preliminary Release