US Market 01 May 2021

US market closed lower except S&P edged higher.
On the weekly chart, Dow closed with an inside day.  S&P, Nasdaq and Russell broke pwh (previous week high), reversed to close with a -roc (close price < open price)

BDI, Harpex, CCFI and CDFI closed higher.

Dollar Index tested support and rebound.

Watch out for

• Speech from US Fed, New Zealand RBNZ's Governor, UK BoE's Governor
• Interest Rate Decision from various countries
• US Nonfarm Payrolls 

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 UT, 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)

03 May, Mon

• Japan and UK holiday
• 1555 German Manufacturing PMI (Apr)
• 2200 US ISM Manufacturing PMI (Apr)

04 May, Tue

• Japan holiday
• 0220 US Fed's Chair Powell speech
• 0945 China Caixin Manufacturing PMI (Apr)
• 1230 Australia RBA Interest Rate Decision (May)
• 1230 Australia RBA Rate Statement 
• 1630 UK Manufacturing PMI (Apr)
• 2030 Canada Building Permits (MoM)
• 2030 US Goods Trade Balance

05 May, Wed

• Japan holiday
• 0645 New Zealand Employment Change (QoQ) (Q1)
• 0700 New Zealand RBNZ's Governor Orr speech
• 2015 US ADP Nonfarm Employment Change (Apr)
• 2200 US ISM Non-Manufacturing PMI (Apr)
• 2230 US Crude Oil Inventories

06 May, Thu

• 0750 Japan BoJ Monetary Policy Meeting Minutes
• 1630 UK Services PMI (Apr)
• 1900 UK BoE Interest Rate Decision (May)
• 1930 UK BoE's Governor Bailey speech
• 2030 US Initial Jobless Claims

07 May, Fri

• 0930 Australia RBA Monetary Policy Statement
• 1630 UK Construction PMI (Apr)
• 2030 US Nonfarm Payrolls (Apr)
• 2030 US Unemployment Rate (Apr)
• 2200 Canada Ivey PMI (Apr)
• 2030 Canada Unemployment Rate