Replies to post #12455 on Market Sense and Sentiment (MKTSS)

[RCKS]

Good morning Bernard, trading in EXPE is halted. And we finally are getting a little MP action even though the market is trying to remain bullish the War News. aj has targets of 1352 and 1040 NDX initially. LG see 1352 as the pivot point and that a bounce should come from there. aj is allowing for this to go to 1020 but that is a line in the sand so to speak for selling/bounce to come from. If we exceed 1020 down the bullish move up is over and was corrective. If we bounce from there it keeps alive a potential move to 1520 or higher.
Good trading bernard
steve

[Bernard Ng]

IndexPulse TrendWatch for Thursday

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

Time Frame and Trading Signals: as stated in iBox

I forgot to change the Medium Term view to Long... sorry about that.

Futures are red. FTSE is trading flat with some up and down swings. TNX gapped down and continue to slide, looks really ugly. It's a mixed scenario out there. My testing signal suggests a green futures, means that we should fade this gap down. However, fading it is not recommended, I would rather short into that rally. Again NDX is overbought, should sink anytime soon. INDU and SPX will follow.

Philadelphia Fed will come out during at 12:00, and FOMC Minutes will come out at 14:00 during the trading day. The first number is going to have an affect to the market for 10 min. In this situation, it should be a sell off signal.

INDU's 5 day MACD support at -30, resistance at +75. I don't think we will get to the resistance in the coming sell off.

INDU should have a trading range between 8100 and 8300.
NDX should have a trading range between 1060 and 1080.
SPX should have a trading range between 855 and 880.
expecting a sell off, but not a huge one JMHO.