US Market 24 Apr 2021

US market closed lower except for Russell closed higher.
On the weekly chart, Dow closed with an inside day.  S&P, Nasdaq and Russell broke pwl (previous week low), recovered to close with a small +roc (close price > open price)

BDI, Harpex, CCFI and CDFI closed higher.

Dollar Index closed lower.

Watch out for

• Japan BoJ Monetary Policy Statement
• Canada BoC's Macklem speech
• Europe ECB's President Lagarde speech
• US FOMC Statement
• China Manufacturing PMI
• Switzerland SNB's Chairman Jordan speech

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)

26 Apr, Mon

• New Zealand holiday
• 1600 German Ifo Business Climate Index (Apr)
• 2030 US Core Durable Goods Orders (MoM) (Mar)

27 Apr, Tue

• 1100 Japan BoJ Monetary Policy Statement
• 1100 Japan BoJ Interest Rate Decision
• 1400 Japan BoJ Press Conference  
• 2200 US CB Consumer Confidence (Apr)

28 Apr, Wed

• 0400 Canada BoC's Macklem speech
• 0930 Australia CPI (QoQ) (Q1)
• 2030 Canada Core Retail Sales (MoM) (Feb)
• 2030 US Goods Trade Balance
• 2200 Europe ECB's President Lagarde speech
• 2230 US Crude Oil Inventories

29 Apr, Thu

• Japan holiday
• 0200 US Fed Interest Rate Decision
• 0230 US FOMC Press Conference  
• 0230 US FOMC Statement
• 1555 German Unemployment Change (Apr)
• 2200 German Harmonized Index of Consumer Prices (YoY)
• 2030 US GDP (QoQ) (Q1)
• 2030 US Initial Jobless Claims
• 2200 US Pending Home Sales (Mar)

30 Apr, Fri

• 0900 China Manufacturing PMI (Apr)
• 0930 Australia Producer Price Index
• 1400 German GDP (QoQ) (Q1)  
• 1600 Switzerland SNB's Chairman Jordan speech
• 1700 Europe CPI (YoY) (Apr)  
• 1700 Europe Gross Domestic Product s.a. (QoQ)
• 2030 Canada GDP (MoM) (Feb)
• 2200 US Michigan Consumer Sentiment Index