Replies to post #7958 on Market Sense and Sentiment (MKTSS)

[PEACEB2U]

Bernard--what futures are up?Thanks--PEACE

[bbgold]

FTSI Down, Futures Down, PMI Down
The Futures had their patented 4 AM selloff again today. So far they have found some support at 790 but I am not sure it will Hold or not. If it does hold then we should get another bounce. We have a lot of resistance levels again so if we do bounce I am not sure how high we will go. Looking at 7400 Dow Support and 7500 Resistance. I think that Peace may have been right on target with using the 320SMA as our Put target. That would have been in line with a Plan trade even though it was not at the EOD. I think that my own personal anticipation of a HOD at EOD was just speculation. Today is Max Pain day so perhaps it will work it's Magic again? Let's see if we can get the Bounce! :^)

Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!

[Bernard Ng]

IndexPulse TrendWatch for Thursday

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

Time Frame and Trading Signals: as stated in iBox

I still like it long, and I know that was a sucker's call in the past two days... ggg. TRIN was close below 1, and we close at LOD. Futures are up. SPX closed above 775, that's the last bullish sign for the market.

I think the MACD support is now at -55, and resistance at +30. That means I will also buy this leg up, and hoping for the best... will sell at the next crossunder if the market fails again, just to protect myself from this multi-new-low process.

I have the next Change of Trend mapped out this Friday.

INDU should have a trading range between 7250 and 7450.
NDX should have a trading range between 800 and 825.
SPX should have a trading range between 775 and 790.

signed,
Bernard