US Market 31 Apr 2022

US market continues to close lower.

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

The dollar index continues to close higher.

Watch out for

• China and Japan have long holidays
• Manufacturing PMI from multiple countries
• Australia and US Interest Rate Decision

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 Neutral
Potential resistance around 33,365, 35,495, 37,625

Potential support around 31,236, 29,407, 29,106, 28,912, 26,976

S&P
Daily DT, Weekly UT

Potential resistance around 4,161, 4,396, 4,632, 4,867, 5,103

Potential support around 3,925, 3,690, 3,579, 3,454, 3,219

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, 10,595

Russell
Daily Neutral, Weekly DT
Potential resistance around 1,910, 2,040, 2,170, 2,300, 2,430, 2,561

Potential support around 1,779, 1,743, 1,708, 1,649

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

02 May, Mon

• Singapore, Hong Kong, China and UK holidays.
• 1555 German Manufacturing PMI (Apr)
• 1600 Europe Manufacturing PMI (Apr)
• 2130 Canada Manufacturing PMI (Apr)
• 2200 US ISM Manufacturing PMI (Apr)

03 May, Tue

• Singapore, China and Japan holidays.
• 1230 Australia RBA Interest Rate Decision (May)
• 1230 Australia RBA Rate Statement  
• 1555 German Unemployment Change (Apr)
• 1700 Europe Unemployment Change (Apr)
• 1630 UK Manufacturing PMI (Apr)
• 2200 US JOLTs Job Openings (Mar)

04 May, Wed

• China and Japan holidays.
• 0645 New Zealand Employment Change (QoQ) (Q1)
• 0930 Australia Retail Sales (MoM) (Mar) 
• 1700 Europe Retail Sales MoM (Mar)
• 2015 US ADP Nonfarm Employment Change (Apr)
• 2030 US Balance of Trade (Mar)
• 2030 Canada Balance of Trade (Mar)
• 2200 US ISM Non-Manufacturing PMI (Apr)
• 2230 US Crude Oil Inventories

05 May, Thu

• Japan holiday
• 0200 US Fed Interest Rate Decision
• 0230 US FOMC Press Conference  
• 0645 New Zealand Employment Change (QoQ) (Q1)
• 0945 China Caixin Services PMI (Apr)
• 1630 UK Composite PMI (Apr)
• 1630 UK Services PMI (Apr)
• 1900 UK BoE Interest Rate Decision (May) 
• 2030 US Initial Jobless Claims

06 May, Fri

• 0930 Australia RBA Statement on Monetary Policy
• 2030 US Nonfarm Payrolls (Apr)
• 2030 US Unemployment Rate (Apr)
• 2030 Canada Employment Change (Apr)
• 2200 Canada Ivey PMI (Apr)