Market Sense and Sentiment

[Bernard Ng]

IndexPulse TrendWatch for Friday

Overall Market:
Long Term: Long
Medium Term: Long
Short Term: Short

Time Frame and Trading Signals: as stated in iBox

Note that I have changed the Long Term trend to Long.

Futures are red. FTSE is trading at HOD. TNX gapped down and trading at LOD. The market looks bearish at the moment. The testing signal suggests that we should sell every rally and hold on to it. We will probably go back to 8600. With a weak Semi Book to Bill ratio, we might head back to 8550.

Mich Sentiment-Prel. will come out at 9:45am during the trading day. It will affect the market, the number will be good... I think, but the reaction could be the opposite.

INDU's 5 day MACD support at -30, resistance at +40. The market doesn't know what to do, I think we will take it to -30.

INDU should have a trading range between 8550 and 8730.
NDX should have a trading range between 1140 and 1165.
SPX should have a trading range between 930 and 945.
JMHO.