Replies to post #12980 on Market Sense and Sentiment (MKTSS)

[bbgold]

Futures Watch
Overnight support at 865, resistance at 870 (SMA resistance). FTSE and TNX looking Bullish this morning. Will be watching for breakout or breakdown again. So far the markets are climbing right from the open. Let's see what happens at resistance. A double bottom in the morning that holds support would be bullish, might have happened overnight though. Also if we regain the SMAs as support.
Enjoy the Day Bernard! :^)

[Bernard Ng]

IndexPulse TrendWatch for Friday

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

Time Frame and Trading Signals: as stated in iBox

Futures are green. FTSE is trading at HOD. TNX is also trading at HOD. It's pretty bullish out there. My testing signal doesn't suggest that we should fade this gapup and hold on to it, hence I have short as my Short Term direction. INDU is still holding the Medium Term uptrend, but I don't have a lot of hope on it at the moment. 320SMA at 8300, should also be a nice level to short besides the MACD resistance. The Plan is still bearish.

Mich Sentiment-Prel. will come out during the trading day at 9:45am.

INDU's 5 day MACD support at -45, resistance at +60. I will start to look for the short when it reaches +45.

INDU should have a trading range between 8150 and 8350.
NDX should have a trading range between 1020 and 1055.
SPX should have a trading range between 860 and 885.
JMHO.