Replies to post #11887 on Market Sense and Sentiment (MKTSS)

[bbgold]

TNX breaking down again
Time to see if the Markets will Follow. So far no MACD Negative crossover. Time to see if we retest the 100/320SMA on the Markets or Not. Back to using 8000 as a stop limit if holding Puts on the move back below the SMAs. Calls could be picked up near 7950 as a hedge or in anticipation of another bounce or the 100/320SMA holding Support. Could use 7900 as a stop limit on any Calls. Just Speculation, still hard to determine where we will go. Being above the 100/320SMA the Plan would still be leaning Bullish but below the SMAs hedged or holding Puts. JMHO though :^)

[Bernard Ng]

IndexPulse TrendWatch for Friday

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

Time Frame and Trading Signals: as stated in iBox

Futures are slightly green. FTSE is red. TNX is testing HOD. It's options expiration day today, so the market might not move at all today. I'm now sealing the absolute top of INDU at 8300, which I don't think it can get there. It even has a hard time breaking 8050.

No economic number will come out during the trading day.

INDU's 5 day MACD support at -60, resistance at +80. MACD is showing indecision, don't know where it is going, but we are't far away from the support either.

INDU should have a trading range between 7850 and 8050.
NDX should have a trading range between 995 and 1015.
SPX should have a trading range between 830 and 855.
I've revised all ranges to be tight today.
JMHO.