Market Sense and Sentiment

[Bernard Ng]

IndexPulse TrendWatch for Tuesday

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

Time Frame and Trading Signals: as stated in iBox

Futures are green. FTSE is trading at HOD after a strong bounce. TNX gapped up, but trading at LOD now, ugly. The whole scenario is mixed. The testing signal does expect a green futures, and suggested that we should at least be green till lunch. I think 7650 is the top we can go today, if it touch 7700, I will definitely short there.

No economic number will come out during the trading day.

INDU's 5 day MACD support at -40, resistance at +20. At this market, I will pretty much short the market every time when MACD hit resistance.

INDU should have a trading range between 7500 and 7700.
NDX should have a trading range between 955 and 980.
SPX should have a trading range between 800 and 820.
Note that INDU and SOX didn't drop below Thursday's low, but SPX and NYA did. Ugly. JMHO.