Market Sense and Sentiment

[Bernard Ng]

IndexPulse TrendWatch for Tuesday

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

Time Frame and Trading Signals: as stated in iBox

Futures are green. FTSE is trading flat. TNX gapped up and filled the gap already, formed a not so perfect HOD signal (a minor hint). It's a mixed scenario out there. My testing signal agrees that we will get the green futures, but it also suggested that we should fade the gap to the down side. I'm sealing the top of INDU at 8200, might run above it, but I see today will be the near term top.

FOMC Meeting will come out at 14:15 during the trading day.

INDU's 5 day MACD support at -40, resistance at +80. The next time we retest the resistance (probably at open), it should be a good short.

INDU should have a trading range between 7900 and 8200.
NDX should have a trading range between 1050 and 1090.
SPX should have a trading range between 840 and 870.
JMHO.