US Markets 09 May 26

The US market closed higher. S&P, Nasdaq, and Russell continued to close with historic highs. The DOW trend has turned up.

BDI, Harpex, CCFI, and CDFI closed higher.

While consolidating, the dollar index continued to close lower 

Watch out for

• CPI data from multiple countries

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

UT 

• Nasdaq (1) 

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 UT, 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 7,458, 7,693

Potential support around 7,222, 6,987, 6,751

Nasdaq
Daily UT, Weekly UT

Potential resistance around 29,378, 30,100

Potential support around 28,655, 27,933, 27,210

Russell
Daily UT, Weekly UT

Potential resistance around  2,951, 3,081

Potential support around 2,821, 2,691, 2,561

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

11 May, Mon

• 0930 China CPI (MoM) (Apr)
• 2200 US Existing Home Sales  (Apr)

12 May, Tue

• 1400 Germany CPI (MoM) (Apr)
• 1700 Europe ZEW Economic Sentiment (May)
• 1700 Germany ZEW Economic Sentiment (May)
• 2030 US CPI (MoM) (Apr)
• 2030 US Core CPI (MoM) (Apr)

13 May, Wed

• 0100 US 10-Year Note Auction 
• 2030 US PPI (MoM) (Apr)
• 2230 US Crude Oil Inventories

14 May, Thu

• Switzerland on holiday
• 0100 US 30-Year Note Auction 
• 1400 UK GDP (MoM) (Mar)
• 2030 US Initial Jobless Claims
• 2030 US Retail Sales (MoM) (Apr)
• 2030 US Core Retail Sales (MoM) (Apr)

15 May, Fri

• 2030 US NY Empire State Manufacturing Index  (May)