US Market 09 May 2020

On the weekly chart, the US market broke pwl, recovered and rallied to close with a +roc at week high.  Nasdaq closed with an outside day.

BDI and Harpex closed lower.

Dollar Index continues to consolidate.

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

• None

Neutral 

• None

DT 

• Dow (1)
• S&P (1)
• Russell (1)

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 is based on 50 Simple Moving Average

Dow

Daily DT, Weekly DT
Potential resistance around 24,837, 25,326, 25,645, 25,784, 26,245, 26,627

Potential support around 24,170, 23,567, 23,435, 23,175, 22,776, 22,121, 22,027

S&P
Daily DT, Weekly DT

Potential resistance around 2,940, 2,983, 3,022, 3,072, 3,155, 3,219

Potential support around 2,874, 2,854, 2,825, 2,814,  2,786, 2,747, 2,710, 2,593, 2,551

Nasdaq
Daily Neutral, Weekly UT

Potential resistance around 9,243, 9,653, 9,723, 9,873, 10,595

Potential support around 8,781, 8,428, 8,196, 8,002, 7,859, 7,706, 7,516, 7,282, 7,134

Russell
Daily DT, Weekly DT
Potential resistance around 1,341, 1,388, 1,420, 1,451, 1,508, 1,519, 1,543, 1,585

Potential support around 1,296, 1,287, 1,259, 1,240, 1,213, 1,185, 1,164, 1,137

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

11 May, Mon

• No important data

12 May, Tue

• 0930 China Consumer Price Index (YoY)
• 1630 Australia Budget Release
• 2030 US Core CPI (MoM) (Apr)

13 May, Wed

• 0750 Japan Current Account n.s.a.
• 1000 New Zealand RBNZ Interest Rate Decision 
• 1000 New Zealand RBNZ Rate Statement  
• 1100 New Zealand RBNZ Press Conference  
• 1400 UK GDP
• 1400 UK Manufacturing Production (MoM) (Mar)
• 2030 US PPI (MoM) (Apr)
• 2230 US Crude Oil Inventories 

14 May, Thu

• 0900 New Zealand Budget Release
• 0930 Australia Employment Change (Apr)
• 1400 GermanHarmonized Index of Consumer Prices (YoY)
• 2030 US Initial Jobless Claims 
• 2315 Canada BoC Gov Poloz Speaks  

15 May, Fri

• 1000 China Industrial Production (YoY) (Apr) 
• 1400 German GDP (QoQ) (Q1) 
• 1700 Europe Gross Domestic Product s.a. 
• 2030 US Core Retail Sales (MoM) (Apr)
• 2030 US Retail Sales (MoM) (Apr)
• 2200 US JOLTs Job Openings (Mar)
• 2030 Canada Retail Sales (MoM)