US Markets 12 May 18

On the weekly charts, US markets broke lhf and rallied.  Russell is going to test historic high again.  This will be the 3rd time.

Dollar Index tested resistance and pull back.

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

• Nasdaq (1)

Neutral 

• None

DT 

• None

Instruments that show selling interest at extreme (2) by Dealer/Intermediary (sell-side participants)
UT 

• None

Neutral 

• S&P

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 Neutral, Weekly UT
Potential resistance around 24,847, TLU11, 25,507, 25,821, Lower Trend Channel (Blue), 25,956

Potential support around 24,175, TLD1, 23,567, 23,435, 23,175, 22,776, TLU6, 22,121

S&P
Daily Neutral, Weekly UT

Potential resistance around 2,748, 2,800, TLU3, Lower Trend Channel (green), 2,874

Potential support around  2,710, 2,593, TLD1, 2,551, TLU1, 2,506, 2,480, 2,450, 2,406

Nasdaq
Daily Neutral, Weekly UT

Potential resistance around  6,983, TLU7, 7,134, 7,706

Potential support around 6,857, TLU6, 6,346, 6,261, TLU3, 6,061, TLU4, 5,952

Russell
Daily UT, Weekly UT
Potential resistance around 1,609, TLU3, 1,649

Potential support around 1,585, 1,543, 1,519, 1,508, 1,494, TLD1, 1,451, 1,420, 1,388

Key event to watch out  (SG Time)
14 May, Mon

• No important event

15 May, Tue

• 0930 Australia RBA Meeting Minutes
• 1000 China Industrial Production (YoY) (Apr) 
• 1400 German GDP (QoQ) (Q1) 
• 1630 UK Average Earnings Index +Bonus (Mar) 
• 1630 UK Claimant Count Change (Apr)   
• 1700 UK Inflation Report Hearings   
• 1700 German ZEW Economic Sentiment (May)
• 2030 US Core Retail Sales (MoM) (Apr)
• 2030 US Retail Sales (MoM) (Apr) 

16 May, Wed

• 0750 JPY GDP (QoQ) (Q1)
• 1700 Europe CPI (YoY) (Apr)
• 2200 Europe ECB President Draghi Speaks
• 2030 US Building Permits (Apr)
• 2230 US Crude Oil Inventories

17 May, Thu

• 0930 Australia Employment Change (Apr) 
• 2030 US Philadelphia Fed Manufacturing Index (May) 

18 May, Fri

• 2030 Canada Core CPI (MoM) (Apr)  
• 2030 Canada Core Retail Sales (MoM) (Mar)