US Markets 01 Apr 23

The US market closed higher. Russell broke lhf (lower high formation) on the weekly chart.

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

The dollar Index is directionless.

Watch out for

• Manufacturing PMI by multiple countries
• Australia and New Zealand Interest Rate Decision
• US NFP
• Short trading week

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

UT 

• None

Neutral 

• S&P

DT 

• Dow

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 are based on 50 Simple Moving Average

Dow
Daily DT, Weekly DT
Potential resistance around 33,365, 35,495, 37,625, 39,754
Potential support around 31,236, 29,106, 26,976, 24,847

S&P
Daily Neutral, Weekly DT

Potential resistance around 4,161, 4,396, 4,632

Potential support around 3,925, 3,690, 3,454, 3,219, 2,983

Nasdaq
Daily UT, Weekly DT

Potential resistance around 13,485, 14,207, 14,930, 15,652

Potential support around 12,762, 12,040, 11,318, 10,595, 9,873

Russell
Daily DT, Weekly DT
Potential resistance around 1,910, 2,040, 2,170, 2,300

Potential support around 1,779, 1,649, 1,519, 1,389, 1,259

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

03 Apr, Mon

• China Holiday
• 0750 Japan Tankan Large Manufacturers Index (Q1)
• 0750 Japan Tankan Large Non-Manufacturers Index (Q1)
• 0930 Australia Retail Sales (MoM)
• 1555 German Manufacturing PMI (Mar)
• 1600 Europe Manufacturing PMI (Mar)
• 1630 UK Manufacturing PMI (Mar)
• 2130 Canada Manufacturing PMI (Mar)
• 2200 US ISM Manufacturing PMI (Mar)

04 Apr, Tue

• China Holiday
• 1230 Australia RBA Interest Rate Decision (Apr)
• 2200 US JOLTs Job Openings (Feb)

05 Apr, Wed

• China and Hong Kong Holiday
• 1000 New Zealand RBNZ Interest Rate Decision
• 1030 Australia RBA Gov Lowe Speech
• 1555 German S&P Global Services PMI (Mar)
• 1600 Europe S&P Global Services PMI (Mar)
• 2015 US ADP Nonfarm Employment Change (Mar)
• 2200 US ISM Non-Manufacturing PMI (Mar)
• 2230 US Crude Oil Inventories

06 Apr, Thu

• 0945 China Caixin Services PMI (Mar)
• 0945 China Caixin Manufacturing PMI (Mar)
• 2030 US Initial Jobless Claims
• 2030 Canada Employment Change (Mar)
• 2200 Canada Ivey PMI (Mar)

07 Apr, Fri

• Most of the markets are closed for the holiday
• 2030 US Nonfarm Payrolls (Mar)
• 2030 US Unemployment Rate (Mar)