Market Sense and Sentiment

[Bernard Ng]

IndexPulse TrendWatch for Monday

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 sideway, hanging on 3500, on the verge to breakdown. TNX gapped down and made a LOD signal. The whole scene is mixed. The testing signal now expects a bounce from this red futures (it expects a green futures). I think we should short that bounce, somewhere at 7777. We are going to war no matter what, see if US can gain enough votes as early as tomorrow. There is no way I'm going long into a certain thing, war. While people are still hoping US can't get enough votes, which I don't think it matters. War is going to happen. Might expect a slide till 17th. I'm sealing the absolute top for any meaning rally to 8000 now.

Wholesale Inventories will come out at 10:00am, not going to affect the market much.

INDU's 5 day MACD support at -40, resistance at +20. MACD is going to hit resistance today, watch for the morning bounce from the red futures and short it, that's my plan.

INDU should have a trading range between 7600 and 7800.
NDX should have a trading range between 975 and 995.
SPX should have a trading range between 815 and 830.
might as well be a sideway day like FTSE JMHO.