US Markets 23 May 26

The US market hits a historic high.

While BDI and CDFI  reversed to close lower, Harpex and CCFI continued to close higher.

The dollar index broke its previous week's high and reversed, closing lower.

Watch out for

• US GDP

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

UT 

• Nasdaq
• Russell

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 are based on 50 Simple Moving Averages

Dow
Daily UT, Weekly UT

Potential resistance around 52,533

Potential support around 50,403, 48,273, 46,144

S&P
Daily UT, Weekly UT

Potential resistance around 7,693

Potential support around 7,458, 7,222, 6,987

Nasdaq
Daily UT, Weekly UT

Potential resistance around 30,100

Potential support around 29,378, 28,655, 27,933

Russell
Daily UT, Weekly UT

Potential resistance around  2,951, 3,081

Potential support around 2,821, 2,691, 2,561

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

25 May, Mon

• Hong Kong, Switzerland, the UK and the US on holiday

26 May, Tue

• 13000 Japan BoJ Core CPI (YoY)
• 2200 US CB Consumer Confidence  (May)

27 May, Wed

• 0930 Australia CPI (YoY) (Q2)
• 1000 New Zealand RBNZ Interest Rate Decision  

28 May, Thu

• 0100 Europe ECB Press Conference
• 2030 US Initial Jobless Claims
• 2030 US GDP (QoQ) (Q1) ^P
• 2030 US Core PCE Price Index (MoM) (Apr)
• 2030 US Core PCE Price Index (YoY) (Apr)
• 2030 US Durable Goods Orders (MoM) (Apr) ^P
• 2200 US New Home Sales  (Apr)
• 2300 Canada BOC Press Conference

29 May, Fri

• 0000 US Crude Oil Inventories
• 2030 Canada GDP (YoY) (Q1)
• 2145 US Chicago PMI  (May)

Note

• ^P: Preliminary Release

Commodities Update 23 May 26

BDI reversed to close lower from 3,151 (15 May) to 2,991 (22 May)

Harpex closed higher from 2,318 (15 May) to 2,321 (22 May)

CDFI reversed to close lower from 1,663.43 (15 May) to 1,656.47 (22 May)

CCFI closed higher from 1,280.46 (15 May) to 1,317.36 (22 May)

COT     

Download Commodities COT

Instruments that show buying interest (3) by Producer/Merchant/Processor/User
Down Trend

• Coffee
• Platinum (1)
• Gold (1)

Neutral

• Silver
• Oats
• Lumber (1)

Up Trend

• Cocoa
• Crude (1)
• Heating Oil

Instruments that show selling interest at extreme (2) only by Producer/Merchant/Processor/User
Up Trend

• Wheat
• Soybean Meal
• Soybean Oil
• Copper
• Cotton

Neutral

• Soybeans

Down Trend

• 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 a trend reversal

Dollar Index closed lower

The dollar index broke its previous week's high and reversed, closing lower.
Resistance at 99.8, 100.3, 102.3
Support at 98.7, 97.3, 96.3

COT for Dollar Index

Weekly chart with 50 SMA

US Markets 16 May 26

The US market closed lower, except for the S&P, which edged higher.

BDI, Harpex, CCFI, and CDFI closed higher.

The dollar index broke the consolidation resistance and closed higher.

Watch out for

• CPI, Manufacturing, and Services PMI data from multiple countries
• US FOMC Meeting Minutes

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

UT 

• Nasdaq (1) 
• Russell

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 are based on 50 Simple Moving Averages

Dow
Daily UT, Weekly UT

Potential resistance around 50,403, 52,533

Potential support around 48,273, 46,144, 44,014

S&P
Daily UT, Weekly UT

Potential resistance around 7,458, 7,693

Potential support around 7,222, 6,987, 6,751

Nasdaq
Daily UT, Weekly UT

Potential resistance around 29,378, 30,100

Potential support around 28,655, 27,933, 27,210

Russell
Daily UT, Weekly UT

Potential resistance around  2,821, 2,951, 3,081

Potential support around 2,691, 2,561, 2,430

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

18 May, Mon

• Canada on holiday
• 1000 China Chinese Unemployment Rate  (Apr)
• 1000 China Industrial Production (YoY) (Apr)

19 May, Tue

• 0750 Japan GDP (QoQ) (Q1) ^P
• 0930 Australia RBA Meeting Minutes 
• 1400 UK Unemployment Rate  (Mar)
• 2030 Canada Core CPI (MoM) (Apr)
• 2030 Canada CPI (MoM) (Apr)

20 May, Wed

• 0915 China PBoC Loan Prime Rate  
• 1400 UK CPI (YoY) (Apr)
• 1700 Europe CPI (YoY) (Apr)
• 1700 Europe Core CPI (YoY) (Apr)
• 2230 US Crude Oil Inventories

21 May, Thu

• 0200 US FOMC Meeting Minutes 
• 0930 Australia Unemployment Rate (Apr)
• 1530 Germany HCOB Manufacturing PMI (May) ^P
• 1530 Germany HCOB Services PMI (May) ^P
• 1600 Europe HCOB Manufacturing PMI (May) ^P
• 1600 Europe HCOB Services PMI (May) ^P
• 1630 UK S&P Global Manufacturing PMI (May) ^P
• 1630 UK S&P Global Services PMI (May) ^P
• 2030 US Initial Jobless Claims
• 2030 US Housing Starts (Apr)
• 2030 US Building Permits (Apr) ^P
• 2145 US S&P Global Manufacturing PMI (May) ^P
• 2145 US S&P Global Services PMI (May) ^P

22 May, Fri

• 0730 Japan National Core CPI (YoY) (Apr)
• 0730 Japan National CPI (YoY) (Apr)
• 1400 Germany GDP (QoQ) (Q1)
• 1400 UK Core Retail Sales (YoY) (Apr)
• 1400 UK Retail Sales (YoY) (Apr)
• 2030 Canada Core Retail Sales (MoM) (Mar)
• 2030 Canada Retail Sales (MoM) (Mar)
• 2200 US Michigan Consumer Sentiment (May)

Note

• ^P: Preliminary Release

Commodities Update 16 May 26

BDI closed higher from 2,978 (08 May) to 3,151 (15 May)

Harpex closed higher from 2,292 (08 May) to 2,318 (15 May)

CDFI closed higher from 1,635.45 (08 May) to 1,663.43 (15 May)

CCFI closed higher from 1,278.79 (08 May) to 1,280.46 (15 May)

COT     

Download Commodities COT

Instruments that show buying interest (3) by Producer/Merchant/Processor/User
Down Trend

• Coffee
• Natural Gas
• Platinum
• Gold (1)

Neutral

• Silver

Up Trend

• Cocoa
• Lumber (1)
• Crude (1)
• Heating Oil

Instruments that show selling interest at extreme (2) only by Producer/Merchant/Processor/User
Up Trend

• Wheat
• Soybeans
• Soybean Meal
• Soybean Oil
• Copper
• Cotton

Neutral

• None

Down Trend

• 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 a trend reversal

Dollar Index broke consolidation resistance

The dollar index broke the consolidation resistance and closed higher.
Resistance at 99.8, 100.3, 102.3
Support at 98.7, 97.3, 96.3

COT for Dollar Index

Weekly chart with 50 SMA