Replies to post #13219 on Market Sense and Sentiment (MKTSS)

[bbgold]

Watching for HOD near 10 AM
May or may not happen but that is usually a good indication of whether the morning move has exhausted itself. I would like to see a HOD and then the markets lose support at the SMAs and having them become resistance before I pick up any Puts. Will most likely miss a lot of a retracement move if waiting until then though, maybe. Would still target the 100/320SMA as the furthest OTM for a Put contract at this time. JMHO though :^)

[Bernard Ng]

IndexPulse TrendWatch for Tuesday

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

Time Frame and Trading Signals: as stated in iBox

Futures are red. FTSE is trading flat. TNX gapped down and trading at LOD, got a rather early LOD signal. The market looks bearish at the moment. The testing signal agrees with the red futures, and not expecting to fade the gap in the morning. While we march into the lunch today, we might settle down, and could go back up in the afternoon. Hence, I see today as another flat day. Yesterday was the perfect day to show how important is 320SMA to the market, we flirted with it so many times. Anyhow, we nailed another top from yesterday at 8400, I'm still bearish.

No economic number will come out today.

INDU's 5 day MACD support at -30, resistance at +30. Doesn't look like MACD will go anywhere today, but I'm bearish.

INDU should have a trading range between 8200 and 8400.
NDX should have a trading range between 1065 and 1090.
SPX should have a trading range between 880 and 895.
the same as yesterday JMHO.