Replies to post #12769 on Market Sense and Sentiment (MKTSS)

[RCKS]

Bernard what has the market so lathered up today?

[Bernard Ng]

IndexPulse TrendWatch for Thursday

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

Time Frame and Trading Signals: as stated in iBox

Futures are green. FTSE is trading at high, but a rather flat day. TNX gapped up, filled the gap and bouncing. It's a bullish scenario out there. My testing signal suggests that we should fade this gap (the signal was wrong, very rare, on such a strong trend day). However, it appears that the second phase of the consoildation pattern is happening today, which in theory could take us back to 8500. The market is still running on the same war "news". I won't actively looking for shorts, and will only go long if there is a sell off after the gap.

No number will come out during the trading day.

INDU's 5 day MACD support at -60, resistance at +80. By the time we get the next MACD crossover, the run could be huge.

INDU should have a trading range between 8250 and 8500.
NDX should have a trading range between 1050 and 1100.
SPX should have a trading range between 875 and 895.
I have a higher resistance, just in case the rally happen today JMHO.