Market Sense and Sentiment

[Bernard Ng]

IndexPulse TrendWatch for Tuesday

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 LOD. TNX is trading at LOD, sitting right at 320SMA, probably a catchup to the market slide from yesterday. It's a mixed scenario out there. My testing signal suggests that we should buy the gap fading if there is one, because we should head back up today. Meanwhile we are trying to hold 320SMA above 8300. I guess a break below it will make it a bearish play for the Plan.

Wholesale Inventories will come out during the trading day at 10:00pm.

INDU's 5 day MACD support at -30, resistance at +75. A long call should be made at MACD support today.

INDU should have a trading range between 8250 and 8500.
NDX should have a trading range between 1050 and 1000.
SPX should have a trading range between 875 and 900.
assume we will not fall off the cliff today JMHO.