US Market 08 May 2021

US market closed higher except Nasdaq closed lower.
Dow and S&P closed at a historic high.  Nasdaq and Russell broke pwl (previous week low) and trimmed some of the losses before closing.

BDI, Harpex, CCFI and CDFI closed higher.

Dollar Index broke support

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)

10 May, Mon

• 0930 Australia Retail Sales (MoM) (Mar)

11 May, Tue

• 0930 China Consumer Price Index (YoY)
• 1700 German ZEW Economic Sentiment (May)
• 2200 US JOLTs Job Openings (Mar)
• 2200 UK BoE Gov Bailey Speaks  May, Wed

12 May, Wed

• 1000 New Zealand Monetary Policy Statement
• 1400 German Harmonized Index of Consumer Prices (YoY)
• 1400 UK GDP (QoQ) (Q1)
• 1400 UK Manufacturing Production (MoM) (Mar)
• 1700 UK BoE Gov Bailey Speaks 
• 2030 US Core CPI (MoM) (Apr)
• 2230 US Crude Oil Inventories
• 2300 Canada BoC's Governor Macklem speech

13 May, Thu

• Switzerland, Singapore holiday
• 0750 Japan Current Account n.s.a.
• 2030 US Initial Jobless Claims
• 2030 US PPI (MoM) (Apr)

14 May, Fri

• 0000 UK BoE Gov Bailey Speaks  
• 1930 Europe ECB Monetary Policy Statement
• 2030 US Core Retail Sales (MoM) (Apr)
• 2030 US Retail Sales (MoM) (Apr)
• 2200 US Michigan Consumer Sentiment Index