US Market 15 May 2021

US market broke pwl (previous week low) and recovered some of the losses before closing lower.  S&P and Russell consolidating.

BDI and CDFI closed lower.  Harpex and CCFI closed higher.

Dollar Index tested resistance and failed to overcome.

Watch out for

• China Industrial Production and Retail Sales
• Australia RBA Meeting Minutes
• Europe ECB's President Lagarde speech
• US FOMC Meeting Minutes
• Various countries PMI data

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 13,485, 14,207, 14,930

Potential support around 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)

17 May, Mon

• 1000 China Industrial Production (YoY) (Apr)
• 1000 China Retail Sales (YoY)

18 May, Tue

• 0750 Japan GDP (QoQ) (Q1) 
• 0930 Australia RBA Meeting Minutes
• 1400 UK Claimant Count Change (Apr)
• 1700 Europe Gross Domestic Product s.a.
• 2030 US Building Permits (Apr)
• 2200 Europe ECB's President Lagarde speech

19 May, Wed

• Hong Kong holiday
• 1400 UK CPI (YoY) (Apr)
• 1700 Europe CPI (YoY) (Apr)
• 2030 Canada Core CPI (MoM) (Apr)
• 2230 US Crude Oil Inventories

20 May, Thu

• 0200 US FOMC Meeting Minutes
• 0930 Australia Employment Change (Apr)
• 0930 China PBoC Loan Prime Rate
• 1000 New Zealand Annual Budget Release  
• 2000 Europe ECB's President Lagarde speech
• 2030 US Initial Jobless Claims
• 2030 US Philadelphia Fed Manufacturing Index (May)

21 May, Fri

• 0930 Asutralia Retail Sales s.a. (MoM)
• 1400 UK Retail Sales (MoM) (Apr)
• 1530 German Manufacturing PMI (May) 
• 1600 Europe Markit PMI Composite 
• 1630 UK Composite PMI (May)  
• 1630 UK Manufacturing PMI (May)  
• 1630 UK Services PMI (May) 
• 2030 Canada Retail Sales (MoM)
• 2200 US Existing Home Sales (Apr)