US Market 29 May 2021

On the weekly charts, the US market broke lhf (lower high formation) and closed higher.  US market consolidating.

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

Dollar Index closed flat.

Watch out for

• Manufacturing PMI from various countries
• Speech by UK BoE Gov, New Zealand RBNZ Gov, Europe ECB President, and US Fed Chair
• US NFP and unemployment data

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 14,207, 14,930

Potential support around 13,485, 12,762, 12,410, 12,040, 11,318

Russell
Daily Neutral, 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)

31 May, Mon

• UK and US holiday
• 0900 China Manufacturing PMI (May)
• 2000 German Harmonized Index of Consumer Prices (YoY)

01 Jun, Tue

• 0945 China Caixin Manufacturing PMI (May)
• 1230 Australia RBA Interest Rate Decision (Jun)
• 1230 Australia RBA Rate Statement  
• 1555 German Manufacturing PMI (May)
• 1555 German Unemployment Change (May)
• 1630 UK Manufacturing PMI (May)
• 1700 Europe CPI (YoY) (May)
• 2030 Canada GDP (MoM) (Mar)
• 2200 US ISM Manufacturing PMI (May)
• 2300 UK BoE Gov Bailey Speaks

02 Jun, Wed

• 0930 Australia GDP (QoQ) (Q1)
• 2030 Canada Building Permits (MoM)

03 Jun, Thu

• 0930 Australia Retail Sales (MoM) (Apr)
• 0930 Australia Trade Balance (MoM)
• 1630 UK Composite PMI (May)
• 1630 UK Services PMI (May)
• 2015 US ADP Nonfarm Employment Change (May)
• 2030 US Initial Jobless Claims
• 2200 US ISM Non-Manufacturing PMI (May)
• 2300 US Crude Oil Inventories
• 2330 UK BoE Monetary Policy Report Hearings

04 Jun, Fri

• 0000 UK BoE Gov Bailey Speaks
• 1500 New Zealand RBNZ Gov Orr Speaks
• 1630 UK Construction PMI (May)
• 1700 Europe Retail Sales (YoY)
• 1900 US Fed Chair Powell Speaks  
• 1900 Europe ECB President Lagarde Speaks
• 2030 US Nonfarm Payrolls (May)
• 2030 US Unemployment Rate (May)
• 2030 Canada Employment Change (May)
• 2200 Canada Ivey PMI (May)