Market Sense and Sentiment

[Bernard Ng]

IndexPulse TrendWatch for Wednesday

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

Time Frame and Trading Signals: as stated in iBox

Futures are mixed. FTSE is trading at sideways. TNX gapped down and filling the gap. It's a mixed scenario out there. My testing signal suggests that we should fade the gap up if there is one. The war news sound promising, MSFT got upgraded, but I simply follow my signal, we should be red or flat before noon. Yesterday, we flirted with the 320SMA for the whole day, obviously, we have no idea where the market is going. When in doubt, I follow my own signal, they said down.

No economic number will come out during the trading day.

INDU's 5 day MACD support at -40, resistance at +80. Take the short side at MACD resistance.

INDU should have a trading range between 8200 and 8500.
NDX should have a trading range between 1030 and 1090.
SPX should have a trading range between 865 and 900.
I got both big up and big down range here. JMHO.