US Market 06 Jun 2020

US market closed higher. Nasdaq closed at historic high.

Dollar Index broke down from 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 26,976, 27,350, 28,195, 28,730, 29,106, 29,407

Potential support around 26,627, 26,245, 25,784, 25,645, 25,326, 24,837, 24,170

S&P
Daily UT, Weekly Neutral

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

Potential support around 3,155, 3,072, 3,022, 2,983, 2,940, 2,874, 2,854, 2,825

Nasdaq
Daily UT, Weekly UT

Potential resistance around 9,873, 10,595

Potential support around 9,723, 9,243, 8,781, 8,428, 8,196, 8,002, 7,859, 7,706

Russell
Daily UT, Weekly DT
Potential resistance around 1,519, 1,543, 1,585, 1,609, 1,624, 1,649, 1,683, 1,708

Potential support around 1,508, 1,451, 1,420, 1,388, 1,341, 1,296, 1,287, 1,259

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

08 Jun, Mon

• Australia holiday
• 0750 Japan GDP (QoQ) (Q1)
• 1400 German Industrial Production s.a. (MoM)

09 Jun, Tue

• 1700 Europe Gross Domestic Product s.a.
• 2200 US JOLTs Job Openings (Apr)

10 Jun, Wed

• 0930 China Consumer Price Index (YoY)
• 1700 OPEC Meeting
• 2030 US Core CPI (MoM) (May)
• 2230 US Crude Oil Inventories 

11 Jun, Thu

• 0200 US FOMC Statement  
• 0200 US Fed Interest Rate Decision
• 0230 US FOMC Press Conference  
• 2030 US Initial Jobless Claims
• 2030 US PPI (MoM) (May) 

12 Jun, Fri

• 1400 UK GDP
• 1400 UK Manufacturing Production (MoM) (Apr)
• 2200 US Michigan Consumer Sentiment Index