Market Sense and Sentiment

[Bernard Ng]

IndexPulse TrendWatch for Monday

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

Time Frame and Trading Signals: as stated in iBox

Futures are really red. FTSE is trading at consolidating at LOD. TNX gapped down and trading at LOD. It's a very bearish scenario out there, demonstrating maximum fear. My testing signal suggests that we should fade this gap and hold on to it. The Plan was officially bearish on Thursday when it couldn't break 320SMA. Trying to look for an LOD signal and go long is my plan for the day.

Chicago PMI will come out at 10:00am during the trading day, it is going to have an effect to the market, might be the turning point for the day.

INDU's 5 day MACD support at -45, resistance at +60. Looking for the longs at or close to -45.

INDU should have a trading range between 7900 and 8200.
NDX should have a trading range between 1020 and 1055.
SPX should have a trading range between 840 and 865.
JMHO.