Replies to post #11566 on Market Sense and Sentiment (MKTSS)

[bbgold]

Morning Bernard,
It looks as though the dip below the Intraday SMAs yesterday and the NDX failing to move above it's 320SMA might have been the foreshadow of today. The overnight Futures dipped to near 850 and then rebounded back to resistance at 855 but the next test of 850 support near the Open failed and the market sold off to 840. The Resistance coming in at 855 would have been a Plan Short Puts signal but it happened overnight and will not be seen in the chart. The resistance at 8150 just could not be broken and that failure might have been used as a Put trigger also with the Breakout as a stop, maybe. Moving below the SMAs could have been the trigger to exit any Call trades using the Plan strategies and philosophies. Time to see now if the LOD type signals are Good and if we will get an MACD positive crossover again and move back above the SMAs.
Keep Rocking Bernard! :^)



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

[was Steve]

Bernard,
i saw your additional ftse charts in the posst last night. today i cant find a graph for ftse anywhere. it used to be in the IHUB header portion. where are you hiding the goods?
s

[Bernard Ng]

IndexPulse TrendWatch for Wednesday

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

Time Frame and Trading Signals: as stated in iBox

Futures are green. FTSE is trading at HOD at the moment, thinking if it should break 170SMA. TNX is also trading at HOD. The whole scene is quite bullish. CSCO's earnings doesn't give us any direction. However, I expect the gapup will be sold before or during Powell's speech. Hence, I put flat for the short term time frame. For NDX to fill yesterday's gap could be the signal to fade this gapup. INDU continues to trade within 8150 and 7900. INDU's 60 min chart is quite toppy.

ISM Services will come out at 10:00am, don't expect it to have much effect to the market.

INDU's 5 day MACD support at -45, resistance at +30. MACD bounced at the MACD support (roughly) yesterday. At this rate, we will meet the MACD resistance very soon, becareful of the longs.

INDU should have a trading range between 7900 and 8150.
NDX should have a trading range between 960 and 995.
SPX should have a trading range between 840 and 870.
INDU and SPX are the same as yesterday, NDX is weaker than other markets.
JMHO.