Wednesday, October 09, 2002 8:39:24 AM
IndexPulse TrendWatch for Wednesday
Overall Market:
Long Term: Short
Medium Term: Short
Short Term: Long
Time Frame and Trading Signals: as stated in iBox
I still like it long, especially like that INDU closed at 7500, right above the support trendline. So if INDU traded below this line, expect us to see 7400 for sure. Pattern-wise, it's bearish for now, but let's hope the trendline will hold, and bounce from here. Futures are down, and I have some Puts
Notice that MACD has already reached +30 yesterday. Last MACD resistance is about +75. So watch when to take the profit...
I have the next Change of Trend mapped out this Friday.
INDU should have a trading range between 7500 and 7650.
NDX should have a trading range between 810 and 830.
SPX should have a trading range between 795 and 815.
signed,
Bernard
Overall Market:
Long Term: Short
Medium Term: Short
Short Term: Long
Time Frame and Trading Signals: as stated in iBox
I still like it long, especially like that INDU closed at 7500, right above the support trendline. So if INDU traded below this line, expect us to see 7400 for sure. Pattern-wise, it's bearish for now, but let's hope the trendline will hold, and bounce from here. Futures are down, and I have some Puts
Notice that MACD has already reached +30 yesterday. Last MACD resistance is about +75. So watch when to take the profit...
I have the next Change of Trend mapped out this Friday.
INDU should have a trading range between 7500 and 7650.
NDX should have a trading range between 810 and 830.
SPX should have a trading range between 795 and 815.
signed,
Bernard
signed,
Bernard
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