Replies to post #13435 on Market Sense and Sentiment (MKTSS)

[bbgold]

Looking Good Bernard
So far right on target and the fade the gap signal was a good one. Watching now to see if the 100/320SMA will fail or not :^)

[Bernard Ng]

IndexPulse TrendWatch for Wednesday

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

Time Frame and Trading Signals: as stated in iBox

Futures are red. FTSE is trading flat. TNX is trading higher, probably to catch up with INDU's EOD action yesterday. The market looks neutral at the moment. The testing signal suggests that we should fade the gap and hold on to it till noon at least. After checking a few charts, I tend to agree that we will breakout to the upside from here. On a daily basis, we have turned bullish again. The Plan is bullish, with 320SMA holding at 8420.

Chicago PMI will come out at 10:00am during the trading day. It is going to affect the market for 10 min.

INDU's 5 day MACD support at -45, resistance at +30. If we break above +30, we would probably go to +60.

INDU should have a trading range between 8400 and 8600.
NDX should have a trading range between 1100 and 1130.
SPX should have a trading range between 910 and 930.
JMHO.