US Markets 17 May 25

The US market closed higher. 

While BDI and CDFI reversed to close higher, CCFI closed lower, and Harpex remained the same.

The dollar index broke the 100.3 resistance level and closed higher, despite trimming some of the gain.

Watch out for

• Manufacturing PMI, Services PMI and CPI data from multiple countries
• Australia and China Interest Rate Decision

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

UT 

• None

Neutral 

• Nasdaq

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 Averages.

Dow
Daily DT, Weekly UT
Potential resistance around 44,014, 46,144

Potential support around 41,884, 39,754, 37,625, 35,495

S&P
Daily Neutral, Weekly UT

Potential resistance around 6,045, 6,280

Potential support around 5,809, 5,574, 5,338, 5,103

Nasdaq
Daily Neutral, Weekly UT

Potential resistance around 21,431, 22,154, 22,876

Potential support around 20,709, 19,986, 19,264, 18,542

Russell
Daily Neutral, Weekly DT
Potential resistance around 2,170, 2,300, 2,430

Potential support around 2,040, 1,910, 1,779, 1,649, 1,519

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

19 May, Mon

• Canada on holiday
• 1000 China Industrial Production (YoY) (Apr)
• 1000 China Chinese Unemployment Rate (Apr)
• 1700 Europe CPI (YoY) (Apr)

20 May, Tue

• 0915 China PBoC Loan Prime Rate
• 1230 Australia RBA Interest Rate Decision (May)
• 2030 Canada Core CPI (MoM) (Apr)
• 2030 Canada CPI (MoM) (Apr)

21 May, Wed

• 1400 UK CPI (YoY) (Apr)
• 2230 US Crude Oil Inventories

22 May, Thu

• 0700 Australia S&P Global Manufacturing PMI (May)  
• 0700 Australia S&P Global Services PMI (May) 
• 1530 Germany HCOB Manufacturing PMI (May) 
• 1530 Germany HCOB Services PMI (May) 
• 1600 Europe HCOB Manufacturing PMI (May) 
• 1600 Europe HCOB Services PMI (May) 
• 1630 UK S&P Global Manufacturing PMI (May)  
• 1630 UK S&P Global Services PMI (May)  
• 1930 Europe ECB Publishes Account of Monetary Policy Meeting  
• 2030 US Initial Jobless Claims
• 2145 US S&P Global Manufacturing PMI (May)  
• 2145 US S&P Global Services PMI (May)  
• 2200 US Existing Home Sales (Apr)

23 May, Fri

• 0730 Japan National Core CPI (YoY) (Apr)
• 1400 UK Retail Sales (YoY) (Apr)
• 1400 UK Retail Core Sales (YoY) (Apr)
• 1400 Germany GDP (QoQ) (Q1)
• 2030 Canada Core Retail Sales (MoM) (Mar)
• 2030 Canada Retail Sales (MoM) (Mar)
• 2200 US New Home Sales (Apr)