Market Sense and Sentiment

[Bernard Ng]

IndexPulse TrendWatch for Tuesday

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

Time Frame and Trading Signals: as stated in iBox

Futures are slightly red, was really green this morning. FTSE is trading at HOD. TNX gapped down and trading sideway. It's a bullish scenario out there. My testing signal agrees with the red futures, and suggests that we should hold it till noon. FTSE is not playing catchup, so maybe INDU needs to play catchup with it in the afternoon. Basically, INDU is range bouncing between 8150 and 8350. A break of 8400 can definitely take us back to 8550 due to earnings rally. The whole world is waiting for MSFT and INTC's forecast this evening. The Plan is bullish at the moment, and looking for a bounce at 8250 if we fall. I'm short in the morning, long in the afternoon.

No economic number will come out during the trading day.

INDU's 5 day MACD support at -45, resistance at +45. Sell off at +45 is recommended, but don't hold it long.

INDU should have a trading range between 8250 and 8400.
NDX should have a trading range between 1035 and 1055.
SPX should have a trading range between 875 and 890.
We might breakout at EOD JMHO.