Market Sense and Sentiment

[Bernard Ng]

IndexPulse TrendWatch for Tuesday

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

Time Frame and Trading Signals: as stated in iBox

Note that I have change the Long Term signal back to Short, it's a shaky moment here.

Futures are green. FTSE and TNX are trading up, but more like sideway. The market looks bullish at the moment. The testing signal suggests that we should buy every dip and hold on to it till noon. I guess we will try to make a bounce and see if this sell off is real. The Plan is bearish with 320SMA at 8640.

Treasury Budget will come out at 14:00pm during the trading day. It will not have much effect to the market.

INDU's 5 day MACD support at -60, resistance at +45. We are doing a crossover now, I will sell short at +45.

INDU should have a trading range between 8450 and 8650.
NDX should have a trading range between 1115 and 1145.
SPX should have a trading range between 920 and 940.
JMHO.