US Markets 02 May 26

The US market closed higher. S&P, Nasdaq, and Russel closed at historic highs.

BDI, Harpex, CCFI, and CDFI closed higher.

While consolidating, the dollar index closed lower.

Watch out for

• Short trading week for China and Japan
• Interest rate decisions by Australia
• US NFP

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 50,403, 52,533

Potential support around 48,273, 46,144, 44,014

S&P
Daily UT, Weekly UT

Potential resistance around 7,222, 7,458

Potential support around 6,987, 6,751, 6,516

Nasdaq
Daily UT, Weekly UT

Potential resistance around 27,933

Potential support around 27,210, 26,488, 25,766

Russell
Daily UT, Weekly UT

Potential resistance around  2,821, 2,951

Potential support around 2,691, 2,561, 2,430

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

04 May, Mon

• China, Japan and the UK are on holiday
• 1555 Germany HCOB Manufacturing PMI  (Apr)
• 1600 Europe HCOB Manufacturing PMI  (Apr)

05 May, Tue

• China and Japan on holiday
• 1230 Australia RBA Interest Rate Decision (May)
• 2000 US Building Permits  
• 2145 US S&P Global Services PMI (Apr)
• 2200 US New Home Sales (Mar)
• 2200 US JOLTS Job Openings (Mar)
• 2200 US ISM Non-Manufacturing PMI (Apr)
• 2200 US New Home Sales (MoM) (Mar)

06 May, Wed

• Japan on holiday
• 1655 Germany HCOB Services PMI (Apr)
• 1700 Europe HCOB Services PMI (Apr)
• 1630 UK S&P Global Services PMI  (Apr
• 2015 US ADP Nonfarm Employment Change (Apr)
• 2200 Canada Ivey PMI (Apr)
• 2230 US Crude Oil Inventories

07 May, Thu

• 2030 US Initial Jobless Claims

08 May, Fri

• 2030 US Nonfarm Payrolls (Apr)
• 2030 US Unemployment Rate (Apr)
• 2030 Canada Unemployment Rate (Apr)
• 2200 US Michigan Consumer Sentiment  (May)

Commodities Update 02 May 26

BDI closed higher from 2,665 (24 Apr) to 2,730 (01 May)

Harpex resumed closed higher from 2,257 (24 Apr) to 2,263 (01 May)

CDFI reversed to close higher from 1,498.62 (24 Apr) to 1,522.1 (30 Apr)

CCFI closed higher from 1,233.76 (24 Apr) to 1,269.64 (30 Apr)

COT     

Download Commodities COT

Instruments that show buying interest (3) by Producer/Merchant/Processor/User
Down Trend

• Natural Gas (1)

Neutral

• Platinum (1)
• Gold (1)
• Silver
• Rough Rice
• Cocoa
• Lumber (1)

Up Trend

• Crude (1)
• Heating Oil

Instruments that show selling interest at extreme (2) only by Producer/Merchant/Processor/User
Up Trend

• Wheat
• Soybean Meal
• Soybean Oil
• Copper
• Cotton

Neutral

• None

Down Trend

• 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 a trend reversal

Dollar Index is consolidating

While consolidating, the dollar index closed lower.
Resistance at 98.7, 99.8, 100.3
Support at 97.3, 96.3, 95.0

COT for Dollar Index

Weekly chart with 50 SMA