Market Sense and Sentiment

[Bernard Ng]

IndexPulse TrendWatch for Thursday

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

Time Frame and Trading Signals: as stated in iBox

Futures are green. FTSE gapped down but now trading at HOD. TNX gapped down and trading at HOD as well. It's pretty bullish out there. My testing signal doesn't suggest anything about the future today, but hinting that we should go long after market open, and should buy the dip after market open. We are sitting right at support here at 8200, if we somehow see 8100 and close below 8200 today, consider the Medium Term uptrend has been broken and a sell off to 7600 is pending in the future.

No economic number will come out during the trading day.

INDU's 5 day MACD support at -45, resistance at +60. We are close to a safe level to go long here.

INDU should have a trading range between 8150 and 8300.
NDX should have a trading range between 1020 and 1050.
SPX should have a trading range between 860 and 880.
JMHO.