Market Sense and Sentiment

[Bernard Ng]

IndexPulse TrendWatch for Monday

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 LOD. TNX gapped down and trading at LOD, just made a LOD signal. The market looks bearish at the moment. The testing signal suggests that we should sell every rally and hold on to it till 11:00 (I'm trying to get precise, another experiment). Looks like the range bouncing could end today to test the lower range of a bigger channel. By the time we open, we will trade below 320SMA, bearish.

Leading Indicators will come out at 1:00am during the trading day. It will affect the market for 5 min.

INDU's 5 day MACD support at -20, resistance at +50. The signal doesn't know what to do.

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.
Same as last week, looking for a breakdown to test the lower range JMHO.