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 green. FTSE gapped up and trading flat. TNX gapped up and trading at HOD. The market looks bullish at the moment. The testing signal suggests that we should fade the gap and hold on to it. At this moment, I don't know, the market looks so bullish, the short at breakout point might got killed.

Consumer Confidence will come out at 10:00am during the trading day. It might be the turning point, if it doesn't turn down, the market might just break out to the upside.

INDU's 5 day MACD support at -45, resistance at +30. We are bullish at a crossunder, becareful of the shorts, but I don't like the long either.

INDU should have a trading range between 8400 and 8550.
NDX should have a trading range between 1100 and 1100.
SPX should have a trading range between 905 and 925.
The top range doesn't account the potential breakout to the upside. JMHO.