US Market 22 May 2021

US market closed lower except for Nasdaq closed higher.
DOW broke pwl (previous week low), recovered to narrow the losses.
On the weekly chart, S&P, Nasdaq and Russell closed with an inside day

BDI and CDFI closed lower.  Harpex and CCFI closed higher.

Dollar Index closed lower.

Watch out for

• New Zealand Interest Rate
• US GDP
• US Treasury Sec Yellen speech

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

UT 

• None

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 UT
Potential resistance around 35,495

Potential support around 33,365, 31,236, 29,407, 29,106, 28,912

S&P
Daily UT, Weekly UT

Potential resistance around 4,396

Potential support around 4,161, 3,925, 3,690, 3,579, 3,454, 3,388

Nasdaq
Daily UT, Weekly UT

Potential resistance around 13,485, 14,207, 14,930

Potential support around 12,762, 12,410, 12,040, 11,318

Russell
Daily DT, Weekly UT
Potential resistance around 2,300, 2,430

Potential support around 2,170, 2,040, 1,910, 1,779

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

24 May, Mon

• Germany, Switzerland and Canada Holiday
• 0645 New Zealand Retail Sales (QoQ)
• 1905 Japan BoJ's Governor Kuroda speech

25 May, Tue

• 1400 German GDP (QoQ) (Q1)
• 1600 German Ifo Business Climate Index (May)
• 2200 US CB Consumer Confidence (May)
• 2200 US New Home Sales (Apr)
• 2200 US Consumer Confidence

26 May, Wed

• Singapore holiday
• 1000 New Zealand RBNZ Interest Rate Decision
• 1000 New Zealand RBNZ Rate Statement  
• 1100 New Zealand RBNZ Press Conference 
• 2230 US Crude Oil Inventories

27 May, Thu

• 2030 US Core Durable Goods Orders (MoM) (Apr)
• 2030 US Gross Domestic Product Annualized
• 2030 US Initial Jobless Claims
• 2200 US Pending Home Sales (MoM) (Apr)
• 2300 US Treasury Sec Yellen speech

28 May, Fri

• 2030 US Goods Trade Balance
• 2200 US Michigan Consumer Sentiment Index