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 green. FTSE is trading at close HOD. TNX gapped and trading at HOD, making a HOD signal. It's a very bullish scenario out there. My testing signal suggests that we should get a green futures. TNX suggested that by the time we open, we are very close to the resistance. Staying to the long side with the Plan proves to be profitable, I said last week, from the pattern we got here, we are heading to 8500, now that we are close to it. The top range of our Friday's prediction has been reached. You might only want to short this gapup for a quick quick flip, staying to the long side is still recommended. If TNX does a consolidation pattern, we could go even higher. Just a note, by the time we open, we broke the 200SMA on a daily basis.

Consumer Credit will come out during the trading day at 3:00pm.

INDU's 5 day MACD support at -60, resistance at +80. A short should only be made at MACD resistance.

INDU should have a trading range between 8350 and 8600.
NDX should have a trading range between 1080 and 1100.
SPX should have a trading range between 885 and 900.
somehow, the SPX is weaker... JMHO.