Fade the Gap was a Good Call Not surprising to me anyway. Interesting that as soon as I was going to look at some quotes my trading computer decided to crash Eh? Will be watching to see how the markets react to the 100/320SMA but would not be too surprised if later today it is once again support, maybe. A good trigger here for taking any Intraday profits IMO. Always Nice for the quick and easy profits :^)
Overall Market: Long Term: Long Medium Term: Long Short Term: Short
Time Frame and Trading Signals: as stated in iBox
Note that I have changed the Long Term trend to Long.
Futures are red. FTSE is trading at LOD. TNX is trading at HOD. The market looks mixed to bearish at the moment. The testing signal suggests that we should sell every rally and hold on to it. It probably means we should at least test the 8600 level and see if it's for real that the bull is back. The Plan is bullish with 320SMA close to 8600. I do think we will bounce at 8600.
No economic number will come out during the trading day.
INDU's 5 day MACD support at -30, resistance at +40. We will ride this crossunder and cover in the next crossover.
INDU should have a trading range between 8600 and 8800. NDX should have a trading range between 1140 and 1180. SPX should have a trading range between 930 and 955. JMHO.
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