Market Sense and Sentiment

[Bernard Ng]

IndexPulse TrendWatch for Monday

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

Time Frame and Trading Signals: as stated in iBox

Futures are red. FTSE is trading flat, pretty bullish. TNX gapped down and trading flat, and forming a LOD signal. The whole scenario is surprisingly not too bearish, despite that war is coming. My testing signal suggests that we will get a bounce from the morning sell off, hence fading the gap. Another day that can go wild in both ways, I pick the long in short term, at least till noon. Be mechanical.

No economic number will come out during the trading day.

INDU's 5 day MACD support at -40, resistance at +80. We are trying to do a crossover, see if it can pull it off with the red futures. A short at +80 would be great if we can get there.

INDU should have a trading range between 7700 and 8000.
NDX should have a trading range between 1005 and 1060.
SPX should have a trading range between 820 and 850.
pretty much the same as last Friday JMHO.