US Market 23 Apr 2022

US market closed lower with an outside day on the weekly chart. The daily trend has turned from neutral to downtrend, except for Russell remained neutral.

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

The dollar index continues to close higher.

Watch out for

• Inflation Rates from multiple countries
• Japan Interest rate decision
• Speech by ECB Guindos

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

UT 

• None

Neutral 

• Russell (1)

DT 

• Dow

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 DT, 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 DT, 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 DT, Weekly UT

Potential resistance around 13,485, 14,207, 14,930, 15,652, 16,374, 17,097

Potential support around 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)

25 Apr, Mon

• Australia and New Zealand holiday.
• 1600 German Ifo Business Climate Index (Apr)

26 Apr, Tue

• 2030 US Core Durable Goods Orders (MoM) (Mar)
• 2200 US CB Consumer Confidence (Apr)
• 2200 US New Home Sales (Mar)

27 Apr, Wed

• 0930 Australia CPI (QoQ) (Q1)
• 2030 Canada ADP Employment Change (Mar)
• 2030 US Goods Trade Balance (Mar)
• 2200 US Pending Home Sales (MoM) (Mar)
• 2230 US Crude Oil Inventories

28 Apr, Thu

• 0930 Australia Retail Sales (MoM) (Mar) 
• 1100 BoJ Monetary Policy Statement  
• 1100 BoJ BoJ Interest Rate Decision
• 1500 Europe ECB Guindos Speech 
• 2000 German Inflation Rate YoY (Apr) 
• 2030 US GDP (QoQ) (Q1) 
• 2030 US Initial Jobless Claims

29 Apr, Fri

• Japan holiday
• 0945 China Caixin Manufacturing PMI (Apr)
• 1600 German GDP (QoQ) (Q1)
• 1700 Europe CPI (YoY) (Apr)
• 1700 German CPI (YoY) (Apr)
• 2030 Canada GDP (MoM) (Feb)
• 2200 US Michigan Consumer Sentiment (Apr)

30 Apr, Sat

• 0930 China GDP (MoM) (Feb)
• 0945 China Caixin Manufacturing PMI (Apr)