Market Sense and Sentiment

[Bernard Ng]

IndexPulse TrendWatch for Thursday

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

Time Frame and Trading Signals: as stated in iBox

Futures are green. FTSE is trading at HOD after a massive gap down. TNX gapped down and consolidating at LOD, a warning sign that we might fade the gapup this morning. I have the short term top sealed at 7850 today, afterall, we broke 7800, and 1 day ahead of Blix's 2nd UN report. Technically speaking, all indexes shouldn't fall a lot today, so I'm not sure if it's worthwhile to fade the gapup.

No economic number will come up during the trading day.

INDU's 5 day MACD support at -40, resistance at +30. A mild sell off today might happen, but I don't expect it to break -40.

INDU should have a trading range between 7700 and 7850.
NDX should have a trading range between 950 and 975.
SPX should have a trading range between 815 and 830.
I have both support and resistance revised down again, slightly down.
JMHO.