US Markets 24 May 25

The US market closed lower. The Dow, S&P and the Russell broke the previous week's low.
The US market's daily trend (50 SMA) has improved. While the Dow turned neutral, the S&P, Nasdaq, and Russell became uptrends.

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

The dollar index broke the two support levels (100.3 and 99.8) and slumped, returning the gain for the past month.

Watch out for

• Speech by US Fed Chair Powell
• FOMC Meeting Minutes
• US and Canada GDP

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

UT 

• Nasdaq

Neutral 

• None

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 Neutral, Weekly UT
Potential resistance around 41,884, 44,014, 46,144

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

S&P
Daily UT, Weekly UT

Potential resistance around 5,809, 6,045, 6,280

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

Nasdaq
Daily UT, Weekly UT

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

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

Russell
Daily UT, Weekly DT
Potential resistance around 2,040, 2,170, 2,300, 2,430

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

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

26 May, Mon

• The UK and the US are on holiday
• 0240 US Fed Chair Powell Speaks

27 May, Tue

• 2030 US Durable Goods Orders (MoM) (Apr)  
• 2030 US Core Durable Goods Orders (MoM) (Apr)  
• 2200 US CB Consumer Confidence (May)

28 May, Wed

• 1000 New Zealand RBNZ Interest Rate Decision

29 May, Thu

• Switzerland on holiday
• 0200 US FOMC Meeting Minutes 
• 2030 US Initial Jobless Claims
• 2030 US GDP (QoQ) (Q1)  

30 May, Fri

• 0000 US Crude Oil Inventories
• 0730 Japan Tokyo Core CPI (YoY) (May)
• 0930 Australia Building Approvals (MoM) (Apr)
• 0930 Australia Retail Sales (MoM) (Apr)
• 2000 Germany CPI (MoM) (May)
• 2030 US Core PCE Price Index (YoY) (Apr)
• 2030 Canada GDP (YoY) (Q1) 
• 2145 US Chicago PMI (May)
• 2200 US Michigan Consumer Sentiment (May)