US Market 15 May 2020

On the weekly chart, the US market closed lower with a -roc.
Dow, S&P and Russell broke pwl and recovered to trim some of the losses.
Consolidation continues on US market and Dollar Index.

BDI and Harpex continue to go lower.

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

• None

Neutral 

• None

DT 

• Dow (1)
• S&P (1)
• Russell (1)

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 DT, Weekly DT
Potential resistance around 24,170, 24,837, 25,326, 25,645, 25,784, 26,245, 26,627

Potential support around 23,567, 23,435, 23,175, 22,776, 22,121, 22,027

S&P
Daily DT, Weekly DT

Potential resistance around 2,874, 2,940, 2,983, 3,022, 3,072, 3,155, 3,219

Potential support around 2,854, 2,825, 2,814,  2,786, 2,747, 2,710, 2,593, 2,551

Nasdaq
Daily UT, Weekly UT

Potential resistance around 9,243, 9,653, 9,723, 9,873, 10,595

Potential support around 8,781, 8,428, 8,196, 8,002, 7,859, 7,706, 7,516, 7,282, 7,134

Russell
Daily DT, Weekly DT
Potential resistance around 1,259, 1,287, 1,296, 1,341, 1,388, 1,420, 1,451, 1,508,

Potential support around 1,240, 1,213, 1,185, 1,164, 1,137, 1,114, 1,095

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

18 May, Mon

• Canada Holiday
• 0750 Japan GDP (QoQ) (Q1)

19 May, Tue

• 0930 Australia RBA Meeting Minutes  
• 1400 UK Average Earnings Index +Bonus (Mar)
• 1400 UK Claimant Count Change (Apr) 
• 1700 German ZEW Economic Sentiment (May)
• 2030 US Building Permits (Apr)
• 2200 US Fed's Chair Powell testifies

20 May, Wed

• 0930 China PBoC Loan Prime Rate 
• 1400 UK CPI (YoY) (Apr)
• 1700 Europe CPI (YoY) (Apr)
• 1945 Europe ECB Interest Rate Decision
• 1945 Europe ECB Deposit Rate Decision
• 2030 Canada Core CPI (MoM) (Apr) 
• 2230 US Crude Oil Inventories 

21 May, Thu

• Switzerland holiday
• 0200 US FOMC Meeting Minutes 
• 1030 Australia RBA's Governor Lowe speech
• 1530 German Markit Manufacturing PMI
• 1600 Europe Markit PMI Composite
• 1630 UK Composite PMI  
• 1630 UK Manufacturing PMI  
• 1630 UK Services PMI  
• 2030 US Initial Jobless Claims 
• 2030 US Philadelphia Fed Manufacturing Index (May)
• 2200 US Existing Home Sales (Apr)

22 May, Fri

• 0230 US Fed's Chair Powell speech
• 0730 Japan National Consumer Price Index (YoY)
• 1400 UK Retail Sales (MoM) (Apr)
• 1530 German Manufacturing PMI (May)  
• 1930 Europe ECB Monetary Policy Meeting Accounts
• 2030 Canada Core Retail Sales (MoM) (Mar)