Market Sense and Sentiment

[bbgold]

Definitely watch NDX
Whenever the markets have rallied it has been the first to uptick. If it fails to bounce much and heads lower then the other indexes should also follow IMO. Remember that in a downtrend previous support will become resistance. That is why I would not be too concerned about Calls unless the Dow moves back above 8250 or the S&P above 875. Those previous support levels should be resistance if we are to continue lower. Also watch to see that we stay Below the SMAs. Moving back above the Intraday 20SMA and it becoming Support might be a good Call trigger if it corresponds with an MACD crossover. Notice how the 20SMA on the S&P is at 875 now? That is the previous support and should be resistance. Might watch that level as your Call trigger rather than guessing the bottom, maybe.
Good Luck Steve! :^)

Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!