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 flat. FTSE is trading at HOD. TNX gapped up but trading flat. The market looks neutral at the moment. The testing signal suggests that we should buy any dip and hold on to it, at least till FOMC meeting. All eyes on CSCO's earnings as well as FOMC meeting. The market will be pretty flat today, I think, until 14:15pm. From yesterday's plan, long at 8500, and see what will happen.

FOMC meeting at 14:15 during the trading day. It could affect the market thru out the rest of the day.

INDU's 5 day MACD support at -45, resistance at +45. MACD is pretty much neutral as well.

INDU should have a trading range between 8500 and 8625.
NDX should have a trading range between 1120 and 1150.
SPX should have a trading range between 920 and 935.
the range doesn't include the breakout scenario, same as yesterday JMHO.