US Market 30 May 2020

US market closed higher. US market daily trend has further improved from Neutral to Uptrend.

On the weekly chart, Nasdaq closed with a hanging man.

Dollar Index test lower range of the consolidation.

BDI closed higher and Harpex continue to go lower.

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

• Dow (1)
• S&P (1)
• Russell (1)

Neutral 

• None

DT 

• None

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 UT, Weekly DT
Potential resistance around 25,645, 25,784, 26,245, 26,627, 26,976, 27,350

Potential support around 25,326, 24,837, 24,170, 23,567, 23,435, 23,175

S&P
Daily UT, Weekly Neutral

Potential resistance around 3,072, 3,155, 3,219, 3,303, 3,391, 3,454

Potential support around 3,022, 2,983, 2,940, 2,874, 2,854, 2,825, 2,814,  2,786

Nasdaq
Daily UT, Weekly UT

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

Potential support around 9,243, 8,781, 8,428, 8,196, 8,002, 7,859, 7,706, 7,516

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

Potential support around 1,341, 1,296, 1,287, 1,259, 1,240, 1,213, 1,185, 1,164

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

01 Jun, Mon

• 0945 China Caixin Manufacturing PMI (May) 
• 1555 German Manufacturing PMI (May)
• 1630 UK Manufacturing PMI (May)
• 2200 US ISM Manufacturing PMI (May) 

02 Jun, Tue

• 1230 Australia RBA Interest Rate Decision (Jun)
• 1230 Australia RBA Rate Statement

03 Jun, Wed

• 0930 Australia GDP (QoQ) (Q1)
• 1555 German Unemployment Change (May)
• 1630 UK Composite PMI (May)
• 1630 UK Services PMI (May)
• 1700 Europe Unemployment Rate
• 2015 US ADP Nonfarm Employment Change (May)
• 2200 US ISM Non-Manufacturing PMI (May)
• 2200 Canada BoC Interest Rate Decision 
• 2200 Canada BoC Rate Statement
• 2230 US Crude Oil Inventories 

04 Jun, Thu

• 0930 Australia Retail Sales (MoM) (Apr)
• 0930 Australia Trade Balance
• 1630 UK Construction PMI (May)
• 1945 Europe Deposit Facility Rate (Jun)
• 1945 Europe ECB Interest Rate Decision (Jun)
• 2030 US Initial Jobless Claims 
• 2030 Europe ECB Press Conference  

05 Jun, Fri

• 2030 US Nonfarm Payrolls (May)
• 2030 US Unemployment Rate (May) 
• 2030 Canada Employment Change (May) 
• 2200 Canada Ivey PMI (May)