Replies to post #12905 on Market Sense and Sentiment (MKTSS)

[bbgold]

Markets gapping down slightly
Still holding above yesterday's Dow futures support of 8250. That is the level I will be watching for a breakdown of longer term support. Need a good retest of the 100/320SMA as resistance and a continued breakdown of support before signaling a Short Puts signal IMO. Being below the SMAs would be Put happy though and any Call trades could be played back to retests of resistance that hold resistance. If we regain support at the 100/320SMA then the Calls might be held longer. JMHO though. Have a Rocking Day Bernard! :^)

[Bernard Ng]

IndexPulse TrendWatch for Wednesday

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

Time Frame and Trading Signals: as stated in iBox

Futures are mixed. FTSE is trading at sideways. TNX gapped down and filling the gap. It's a mixed scenario out there. My testing signal suggests that we should fade the gap up if there is one. The war news sound promising, MSFT got upgraded, but I simply follow my signal, we should be red or flat before noon. Yesterday, we flirted with the 320SMA for the whole day, obviously, we have no idea where the market is going. When in doubt, I follow my own signal, they said down.

No economic number will come out during the trading day.

INDU's 5 day MACD support at -40, resistance at +80. Take the short side at MACD resistance.

INDU should have a trading range between 8200 and 8500.
NDX should have a trading range between 1030 and 1090.
SPX should have a trading range between 865 and 900.
I got both big up and big down range here. JMHO.