Market Sense and Sentiment

[Bernard Ng]

IndexPulse TrendWatch for Friday

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

Time Frame and Trading Signals: as stated in iBox

Futures are green. FTSE is trading green, just had a pull back from the high. TNX is trading at HOD. It's a bullish scenario out there. My testing signal suggests that we should definitely fade this gap in the morning. However, due to the possibility of more delta hedging, I think we should cover the short in that tankage. Should be a nice one, honestly, if there is not a possibility that US will declare victory... I will treat this as an exhaustion gap. After the gap fading, I really have no clue where this will go, so I put it as flat, as today is the quadruple witch Friday.

No economic number will come out during the trading day.

INDU's 5 day MACD support at -15, resistance at +75. I think we should cover the gap fading action at or close to support.

INDU should have a trading range between 8200 and 8400.
NDX should have a trading range between 1070 and 1100.
SPX should have a trading range between 865 and 900.
JMHO.