US Market 16 Apr 2022

US market closed lower except for Russell closed higher.

BDI, CDFI, and CCFI recovered to close higher, except Harpex closed lower

The dollar index continues to close higher.

Watch out for

• China data including PBoC Loan Prime Rate
• Manufacturing PMI from multiple countries
• Speech by Fed Chair Powell, ECB President Lagarde, and BoE Gov Bailey

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

UT 

• None

Neutral 

• Dow
• Russell (1)

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 Neutral, 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 Neutral, Weekly UT

Potential resistance around 4,396, 4,632, 4,867, 5,103

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

Nasdaq
Daily Neutral, Weekly UT

Potential resistance around 14,207, 14,930, 15,652, 16,374, 17,097

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

Russell
Daily Neutral, 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)

18 Apr, Mon

• Australia, New Zealand, Hong Kong, and most of the Europe markets are closed for the holiday.
• 1000 China Retail Sales (YoY) (Mar)
• 1000 China GDP (YoY) (Q1)
• 1000 China Industrial Production (YoY) (Mar)

19 Apr, Tue

• 0830 Australia RBA Meeting Minutes
• 2030 US Building Permits (Mar)

20 Apr, Wed

• 0915 China PBoC Loan Prime Rate
• 2030 Canada Core CPI (MoM) (Mar)
• 2200 US Existing Home Sales (Mar)
• 2230 US Crude Oil Inventories

21 Apr, Thu

• 0645 New Zealand CPI (QoQ) (Q1)
• 0930 Australia Retail Sales (MoM) (Mar) 
• 1700 Europe CPI (YoY) (Mar)
• 2030 US Initial Jobless Claims
• 2030 US Philadelphia Fed Manufacturing Index (Apr)
• 2300 US Fed Chair Powell Speaks

22 Apr, Fri

• 0100 US Fed Chair Powell Speaks 
• 0730 Japan Inflation Rate YoY (Mar)
• 1400 UK Retail Sales (MoM) (Mar)
• 1530 German Manufacturing PMI (Apr)  
• 1600 Europe Manufacturing PMI (Apr)  
• 1630 UK Manufacturing PMI  
• 2030 Canada Core Retail Sales (MoM) (Feb)
• 2100 Europe ECB President Lagarde Speaks  
• 2230 UK BoE Gov Bailey Speaks