Market Sense and Sentiment

[Bernard Ng]

IndexPulse TrendWatch for Thursday

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

Time Frame and Trading Signals: as stated in iBox

Futures are red. FTSE is trading at LOD at the moment. TNX has made a LOD signal, might try to fill the gap. On a daily basis, we are stuck between 7900 and 8150 for a week, today might be the day to break the down side and head for the October low... or it could be a flat day, if another range bouncing continues. I'm more incline to see it break, as the pattern is a bear flag on a daily basis.

No economic number will come out during the trading day.

INDU's 5 day MACD support at -45, resistance at +45. MACD will head to -45 soon, might as well bounce again there to continue the range bouncing situation.

INDU should have a trading range between 78500 and 8150.
NDX should have a trading range between 950 and 995.
SPX should have a trading range between 830 and 870.
about the same as yesterday, I re-adjusted the support to the downside.
JMHO.