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 HOD. TNX gapped up and filling the gap, trading rather flat. It's a bullish scenario out there. My testing signal agrees with the green futures, and suggests that if we got a gap and crap, we should buy that dip and hold on to it. With IBM's earnings tonight, we could start the earnings run, and power drive it with MSFT and INTC's earnings tomorrow evening. The Plan is bearish at the moment, but watch for a hold above 320SMA and 8250 as a signal to go long.

No economic number will come out during the trading.

INDU's 5 day MACD support at -45, resistance at +60. Buy at MACD support is recommended to prepare yourself for an earnings run.

INDU should have a trading range between 8150 and 8400.
NDX should have a trading range between 1020 and 1055.
SPX should have a trading range between 860 and 885.
Looking for a breakout from here JMHO.