Replies to post #12089 on Market Sense and Sentiment (MKTSS)

[bbgold]

Overnight Futures Watch
S&P Futures hit resistance near the FTSE open at 850 and then retraced to find support at 845. Watching for a Breakout of 850 or a Breakdown of 845, which should become SMA support.

[bbgold]

Yes, FTSE at HOD
I have not been watching the FTSE much lately. Have most of the times when the FTSE is showing a good HOD signal also been times when the INDU has had a gap and crap as the Futures have already topped out? Looks as though the FTSE had a false HOD this morning, before it's 9 AM. That would compare to how we watch for a false HOD on the US Markets before 10 AM. The FTSE found support at it's SMAs and continued higher. That Might be the pattern to watch for today, maybe. If we get a breakdown of the Intraday SMAs on the US markets though then 850 might be the top again, maybe. Will be watching for a breakdown today or if the breakout will continue to hold SMA support.

[bbgold]

TNX continues to downtrend
It looks as though it was indeed a good signal to use the continued downtrend to fade the gap. So far both the near touch of 8000 and fading the gap would have set up a good Put signal in the AM. ISM came in above 50, bullish territory, but below the consensus. Watching TNX now to see if it will indeed put in a LOD on the second crossunder. Have you seen any relationship as far as the movement of TNX away from it's 320SMA for a Bounce, similar to INDU 150-200 points? Looks as though 75 cents might be the Bounce point to me, maybe.
For a 50 cent bounce? :^)

[Bernard Ng]

IndexPulse TrendWatch for Tuesday

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

Time Frame and Trading Signals: as stated in iBox

Futures are red. FTSE is trading at LOD. TNX gapped down and filled the gap. It's a mixed picture out there, but TNX suggested that we should fade the gap down, my testing signal agrees with it. Not much down side here in the sideway market, if we somehow drop below 7750, we might start to breakdown from this flat range here. Top is sealed at 8100 in any meaningful bounce, this can only be revised lower and lower as time goes by.

No economic number will come out during the trading day today.

INDU's 5 day MACD support at -45, resistance at +30. Not sure if MACD will test the support, but I'll be buying for a bounce there, as a gap and snap is on the deck on my book.

INDU should have a trading range between 7750 and 7950.
NDX should have a trading range between 980 and 1010.
SPX should have a trading range between 825 and 845.
JMHO.