US Markets 23 May 26

The US market hits a historic high.

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

The dollar index broke its previous week's high and reversed, closing lower.

Watch out for

• US GDP

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

UT 

• Nasdaq
• 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 52,533

Potential support around 50,403, 48,273, 46,144

S&P
Daily UT, Weekly UT

Potential resistance around 7,693

Potential support around 7,458, 7,222, 6,987

Nasdaq
Daily UT, Weekly UT

Potential resistance around 30,100

Potential support around 29,378, 28,655, 27,933

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)

25 May, Mon

• Hong Kong, Switzerland, the UK and the US on holiday

26 May, Tue

• 13000 Japan BoJ Core CPI (YoY)
• 2200 US CB Consumer Confidence  (May)

27 May, Wed

• 0930 Australia CPI (YoY) (Q2)
• 1000 New Zealand RBNZ Interest Rate Decision  

28 May, Thu

• 0100 Europe ECB Press Conference
• 2030 US Initial Jobless Claims
• 2030 US GDP (QoQ) (Q1) ^P
• 2030 US Core PCE Price Index (MoM) (Apr)
• 2030 US Core PCE Price Index (YoY) (Apr)
• 2030 US Durable Goods Orders (MoM) (Apr) ^P
• 2200 US New Home Sales  (Apr)
• 2300 Canada BOC Press Conference

29 May, Fri

• 0000 US Crude Oil Inventories
• 2030 Canada GDP (YoY) (Q1)
• 2145 US Chicago PMI  (May)

Note

• ^P: Preliminary Release