Replies to post #13864 on Market Sense and Sentiment (MKTSS)

[Bernard Ng]

Oops, my top was rocked by the momentum, the Plan is now bullish if INDU can hold 8550.

[Bernard Ng]

IndexPulse TrendWatch for Friday

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

Time Frame and Trading Signals: as stated in iBox

Futures are red. FTSE is trading at LHOD. TNX gapped down, but flat at the moment. The market looks bearish at the moment. The testing signal suggests that we should sell every rally and hold on to it. The Plan is bullish with 320SMA at 8520. Yesterday was a strong day, but I check the daily charted, it could most likely be the classic throw back after a pattern breakdown. According to the book, we should short this rally and wait for the market to tank, as a swingtrade.

No economic number will come out during the trading day.

INDU's 5 day MACD support at -50, resistance at +20. Looks like a short at +20 around 8600 is still good till the next crossover.

INDU should have a trading range between 8500 and 8650.
NDX should have a trading range between 1110 and 1140.
SPX should have a trading range between 920 and 935.
JMHO.