Market Sense and Sentiment

[Bernard Ng]

IndexPulse TrendWatch for Wednesday

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. TNX gapped down, and couldn't fill the gap. The whole scenario is bearish. My testing signal agrees with the red future. The market is currently in a "sell off mode", heading straight to the October low. I think we will get a bounce after the inital sell off, which I won't trade that... I only take the short side.

No economic number will come out during the trading day.

INDU's 5 day MACD support at -30, resistance at +20. At this rate, the market will stablized at -30, if you are scalping for a bounce, that's would be the window of opportunity.

INDU should have a trading range between 7400 and 7600.
NDX should have a trading range between 945 and 965.
SPX should have a trading range between 785 and 810.
JMHO.