US Markets 22 Apr 23

The US market closed lower, except Russell closed higher.  The US market is consolidating.  

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

The dollar index continues to close higher with an inside day on the weekly chart.

Watch out for

• Japan BoJ Interest Rate Decision
• GDP data by  multiple countries
• The next US interest rate decision is on 04 Mar 0200 Hrs (SGT)

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

UT 

• S&P

Neutral 

• None

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 Neutral, Weekly DT
Potential resistance around 35,495, 37,625, 39,754
Potential support around 33,365, 31,236, 29,106, 26,976

S&P
Daily UT, Weekly DT

Potential resistance around 4,161, 4,396, 4,632

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

Nasdaq
Daily UT, Weekly DT

Potential resistance around 13,485, 14,207, 14,930, 15,652

Potential support around 12,762, 12,040, 11,318, 10,595

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

Potential support around 1,779, 1,649, 1,519, 1,389, 1,259

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

24 Apr, Mon

• 1600 German Ifo Business Climate Index (Apr)

25 Apr, Tue

• Australia and New Zealand holiday
• 2200 US CB Consumer Confidence (Apr)
• 2200 US New Home Sales (Mar)

26 Apr, Wed

• 0930 Australia CPI (QoQ) (Q1)
• 2030 US Core Durable Goods Orders (MoM) (Mar)
• 2230 US Crude Oil Inventories

27 Apr, Thu

• 2030 US GDP (QoQ) (Q1)  
• 2030 US Initial Jobless Claims
• 2200 US Pending Home Sales (MoM) (Mar)

28 Apr, Fri

• 1100 Japan BoJ Interest Rate Decision
• 1100 Japan BoJ Outlook Report (YoY)  
• 1400 German GDP (QoQ) (Q1)
• 1555 German Unemployment Change (Apr)
• 2000 German CPI (MoM) (Apr) 
• 2030 US Core PCE Price Index (MoM) (Mar)
• 2030 Canada GDP (MoM) (Feb)