Sunday, May 31, 2015

Indices Performance Chart - 30 May 15

Most markets closed lower this week.  China A50 lost all the gain on last week.

Instruments that show buying interest from Dealer/Intermediary (sell-side participants)
  • Nasdaq (increased for 1st week)
  • S&P (increased for 1st week), buying interest at near to 20150 high
  • Dow (increased for 1st week)
  • Russell (increased for few weeks), buying interest at highest since 2014

As mentioned last week "Dow look weak in weekly chart", "Nasdaq and Russell tested resistance and pull back", Dow pull back more than 1%.

In daily chart, Dow trend resisted. S&P move within Diff, trend supported. Nasdaq resisted by Taos, Daily and weekly Diff.  Russell move within Diff, trend resisted.  Based on COT buying interest buying up especially on Russell and S&P, there will be more upside if can break and closed above resistance for 2-3 days

Dow potential resistance around 18,074, 18,169 and 18,222
Dow potential support around 17,948, 17,839 and 17,747

S&P potential resistance around 2,126 and 2,137
S&P potential support around 2,100, 2,089 and 2080

Nasdaq potential resistance around 4,548 and 4,562
Nasdaq potential support around 4,474, 4,460 and 4,430

Russell potential resistance around 1,255, 1,261 and 1,271
Russell potential support around 1,240, 1,234, 1,224 and 1,217

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