US Markets 16 May 26

The US market closed lower, except for the S&P, which edged higher.

BDI, Harpex, CCFI, and CDFI closed higher.

The dollar index broke the consolidation resistance and closed higher.

Watch out for

• CPI, Manufacturing, and Services PMI data from multiple countries
• US FOMC Meeting Minutes

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

UT 

• Nasdaq (1) 
• Russell

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  2,821, 2,951, 3,081

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

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

18 May, Mon

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

19 May, Tue

• 0750 Japan GDP (QoQ) (Q1) ^P
• 0930 Australia RBA Meeting Minutes 
• 1400 UK Unemployment Rate  (Mar)
• 2030 Canada Core CPI (MoM) (Apr)
• 2030 Canada CPI (MoM) (Apr)

20 May, Wed

• 0915 China PBoC Loan Prime Rate  
• 1400 UK CPI (YoY) (Apr)
• 1700 Europe CPI (YoY) (Apr)
• 1700 Europe Core CPI (YoY) (Apr)
• 2230 US Crude Oil Inventories

21 May, Thu

• 0200 US FOMC Meeting Minutes 
• 0930 Australia Unemployment Rate (Apr)
• 1530 Germany HCOB Manufacturing PMI (May) ^P
• 1530 Germany HCOB Services PMI (May) ^P
• 1600 Europe HCOB Manufacturing PMI (May) ^P
• 1600 Europe HCOB Services PMI (May) ^P
• 1630 UK S&P Global Manufacturing PMI (May) ^P
• 1630 UK S&P Global Services PMI (May) ^P
• 2030 US Initial Jobless Claims
• 2030 US Housing Starts (Apr)
• 2030 US Building Permits (Apr) ^P
• 2145 US S&P Global Manufacturing PMI (May) ^P
• 2145 US S&P Global Services PMI (May) ^P

22 May, Fri

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

Note

• ^P: Preliminary Release