Indices Performance Chart - 20 Aug 16

Markets pull back week after few weeks of gain.

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

• None (US markets buying interest dropped below 70)

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 is based on 50 Simple Moving Average

US markets closed with small ROC in weekly charts. DOW and S&P are directionless.  COT buying interest are below 70 level.  Next week not many important data from US except on Fri, US GDP.  Fed Yellen is going to Speak at Jackson Hole Policy Symposium and traders will be looking for clues and hints on interest rate hike.  Europe various countries will be reporting their Manufacturing PMI on Tue.

Dow
Daily UT, Weekly UT
Consolidating between 18,161 and 186,38
Potential resistance around 18,638, TLU4, TLU2, 19,440, TLU5, TLU6
Potential support around 18,367, 18,189, TLD5, 17,829, 17,600

S&P
Daily UT, Weekly UT
Outside day on weekly chart
Potential resistance around 2285
Potential support around 2178, 2,137, TLU4, 2,129, 2,116, 2,102

Nasdaq
Daily UT, Weekly UT
Failed to hold above 4,816
Potential resistance around 4,816 (Historic high @ Mar 2000), TLU1, 5,538
Potential support around 4,769, 4,722, 4,682, 4,640, 4,537, TLD3, TLU2, 4,347

Russell
Daily UT, Weekly UT
Potential resistance around 1,240, 1,259(4), 1,274, 1,287, 1,296, TLU1
Potential support around 1,213, TLU5, TLU2, 1,185, 1,164, 1,137

Key event to watch out  (SG Time)

22 Aug, Mon

• No important data

23 Aug, Tue

• 1530 EUR German Manufacturing PMI (Aug)
• 2200 USD New Home Sales (Jul) 

24 Aug, Wed

• 1400 EUR German GDP (QoQ) (Q2) 
• 2200 USD Existing Home Sales (Jul)
• 2230 USD Crude Oil Inventories 

25 Aug, Thu

• 1600 EUR German Ifo Business Climate Index (Aug)
• 2030 USD Core Durable Goods Orders (MoM) (Jul)

26 Aug, Fri

• 1630 GBP GDP (YoY) (Q2) 
• 2030 USD GDP (QoQ) (Q2)
• 2200 USD Fed Chair Yellen to Speak at Jackson Hole Policy Symposium