Market Sense and Sentiment

[Bernard Ng]

IndexPulse TrendWatch for Wednesday

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

Time Frame and Trading Signals: as stated in iBox

Futures are red. FTSE is trading at LOD. TNX gapped up and trading flat. The market looks mixed at the moment. The testing signal suggests that we should buy every dip and hold on to it till 11:00am. The Plan is bearish with 320SMA at 8600. Looking for a run there, then sell it back, hence a flat day.

No economic number will come out during the trading day.

INDU's 5 day MACD support at -50, resistance at +20. Looking for a short at +20.

INDU should have a trading range between 8400 and 8600.
NDX should have a trading range between 1100 and 1135.
SPX should have a trading range between 910 and 935.
JMHO.