Market Sense and Sentiment

[Bernard Ng]

IndexPulse TrendWatch for Thursday

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

Time Frame and Trading Signals: as stated in iBox

Futures are green. TNX opened flat and ran up, looks pretty bullish to me. The 60 min chart says that it will take a real bull to see 8300 today. I still have the medium term top sealed at 8400, and looking forward to load in the short there. Even though I say Long in short term time frame, but I don't actively looking for any long. I think we will get a little ramp today, that's it (check MACD and price bullish divergence).

Help-Wanted Index will come out today at 10:00am, and FOMC Minutes will come out at 2:00pm. Don't think the numbers have any meaning to the market.

INDU's 5 day MACD support at -60, resistance at +30. MACD and price are having a bullish divergence. We might go to +60 today.

INDU should have a trading range between 8050 and 8250.
NDX should have a trading range between 1000 and 1035.
SPX should have a trading range between 855 and 875.
JMHO.

signed,
Bernard