US Markets 29 Apr 23

The US market is consolidating. Dow, S&P and Nasdaq closed higher, while Russell closed lower.

Harpex, BDI, CDFI and CCFI closed higher.

The dollar index closed lower while consolidating.

Watch out for

• Manufacturing PMI from multiple countries
• Interest rate decisions from Australia, Europe and the US
• US NFP
• Short trading week for China and Japan

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

UT 

• None

Neutral 

• Dow
• S&P

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

S&P
Daily Neutral, Weekly Neutral

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

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

Nasdaq
Daily UT, Weekly Neutral

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 1,779, 1,910, 2,040, 2,170, 2,300

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

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

01 May, Mon

• Holiday for Hong Kong, China, Singapore and most of the Europe countries
• 2200 US ISM Manufacturing PMI (Apr)

02 May, Tue

• Holiday for China
• 1230 Australia RBA Interest Rate Decision (May)
• 1230 Australia RBA Rate Statement  
• 1400 German Retail Sales MoM (Mar)
• 1555 German Manufacturing PMI (Apr)
• 1600 Europe Manufacturing PMI (Apr)
• 1630 UK Manufacturing PMI (Apr)
• 1700 Europe CPI (YoY) (Apr)
• 2200 US JOLTs Job Openings (Mar)

03 May, Wed

• Holiday for China
• 0645 New Zealand Employment Change (QoQ) (Q1)
• 0930 Australia Retail Sales (MoM) 
• 2015 US ADP Nonfarm Employment Change (Apr)
• 2145 US Services PMI (Apr)
• 2200 US ISM Non-Manufacturing PMI (Apr)
• 2230 US Crude Oil Inventories

04 May, Thu

• Holiday for Japan 
• 0200 US Fed Interest Rate Decision
• 0230 US FOMC Press Conference  
• 0645 New Zealand Employment Change (QoQ) (Q1)
• 0945 China Caixin Manufacturing PMI (Apr)
• 2015 Europe Deposit Facility Rate (May)
• 2015 Europe ECB Interest Rate Decision (May) 
• 2030 US Initial Jobless Claims
• 2045 Europe ECB Press Conference  
• 2200 Canada Ivey PMI (Apr)

05 May, Fri

• Holiday for Japan
• 0945 China Caixin Services PMI (Apr)
• 1700 Europe Retail Sales MoM (Mar)
• 2030 US Nonfarm Payrolls (Apr)
• 2030 US Unemployment Rate (Apr)
• 2030 Canada Unemployment Rate (Apr)