US Market 09 Apr 2022

US market broke hlf (higher low formation) on the weekly chart and closed lower.

BDI, CDFI, Harpex, and CCFI closed lower.

The dollar index broke out from consolidation.

Watch out for

• Inflation Rates from multiple countries
• Interest rate decisions from New Zealand, Canada and Europe

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

UT 

• Dow
• Russell (1)

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 are based on 50 Simple Moving Average

Dow

Daily UT, Weekly UT
Potential resistance around 35,495, 37,625

Potential support around 33,365, 31,236, 29,407, 29,106, 28,912

S&P
Daily UT, Weekly UT

Potential resistance around 4,632, 4,867, 5,103

Potential support around 4,396, 4,161, 3,925, 3,690, 3,579

Nasdaq
Daily UT, Weekly UT

Potential resistance around 14,930, 15,652, 16,374, 17,097

Potential support around 14,207, 13,485, 12,762, 12,410, 12,040, 11,318

Russell
Daily UT, Weekly DT
Potential resistance around 2,040, 2,170, 2,300, 2,430, 2,561

Potential support around 1,910, 1,779, 1,743, 1,708

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

11 Apr, Mon

• 0930 China Inflation Rate YoY (Mar)
• 1400 UK Goods Trade Balance (Feb)
• 1400 UK GDP
• 1400 UK Manufacturing Production (MoM) (Feb)

12 Apr, Tue

• 1400 UK Unemployment Rate (Feb)
• 1400 UK Claimant Count Change (Mar)
• 1700 German ZEW Economic Sentiment (Apr)
• 2030 US Inflation Rate YoY (Mar)

13 Apr, Wed

• 1000 New Zealand RBNZ Interest Rate Decision
• 1000 New Zealand RBNZ Rate Statement  
• 1400 UK Inflation Rate YoY (Mar)
• 2030 US PPI (YoY) (Mar)
• 2200 Canada BoC Monetary Policy Report
• 2200 Canada BoC Interest Rate Decision
• 2230 US Crude Oil Inventories
• 2300 Canada BOC Press Conference

14 Apr, Thu

• 0930 Australia Employment Change (Mar)
• 1945 Europe ECB Interest Rate Decision (Apr)
• 2030 US Core Retail Sales (MoM) (Mar)
• 2030 US Initial Jobless Claims
• 2030 US Retail Sales (MoM) (Mar)
• 2030 Europe ECB Press Conference

2200 US Michigan Consumer Sentiment (Apr)

15 Apr, Fri

• Most of the markets are closed for the holiday.