Instruments that show buying interest from Dealer/Intermediary (sell-side participants)
- Nasdaq (decreased for 1st week)
- S&P (decreased for 1st week)
- Dow (increased for 2nd week)
- Russell (decreased for 1st week)
Russell broke lhf in weekly chart and closed 1% higher while the other 3 US indices closed in the negative territory.
US Indices had been testing channel support for last 4 months, if break below the month of May , will see moving lower. Level 2 or 3 (see last chart) will be the one of the critical support for Dow, S&P and Nasdaq. Dow and S&P look much weaker when compare to Nasdaq and Russell at the time of writing.
May Low (based on CMC CFD)
- Dow around 17,687
- S&P around 2,062
- Nasdaq around 4,337
- Russell around 1,213