Market Sense and Sentiment

[Bernard Ng]

IndexPulse TrendWatch for Monday

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

Time Frame and Trading Signals: as stated in iBox

Futures are way down. TNX gapped down, but didn't go any lower, a good sign to fade the gap. All eyes on UN Blix's report today at 10:30am, that could begin the gap fading action. Hence I have a flat day on the Short Term time frame. For the Long Term, I've switched to Short as we've broken some very important support.

Existing Home Sales number will come out at 10:00am.

INDU's 5 day MACD support at -60, resistance at +10. Looks like the futures will drag the crossover back down, watch the support for a potential bounce.

INDU should have a trading range between 7900 and 8200.
NDX should have a trading range between 970 and 1020.
SPX should have a trading range between 840 and 880.
JMHO.


signed,
Bernard