Replies to post #13725 on Market Sense and Sentiment (MKTSS)

[bbgold]

TNX trading review
The TNX closing at Intraday resistance might be a good signal to watch for the morning gap down, maybe. Will need to keep watching it to see if it will be consistent. Hitting it's 100/320SMA created some resistance for a retest of support, which the markets seemed to follow at 10AM. Now that the TNX is holding support the Markets are trying to regain some ground from yesterday. Would be watching the TNX to see if it can recover back above it's SMAs or if the resistance will keep it moving lower. It Looks as though the resistance at 10AM lead to a short Market correction that found support at 10:30 when the TNX did. The Plan does indeed continue to show Bullish and if the TNX can recover back above it's 100/320SMA then All indexes will be in Bullish territory. The TNX is the only index we follow that is in Bearish territory. Will that continue?

[Bernard Ng]

IndexPulse TrendWatch for Wednesday

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

Time Frame and Trading Signals: as stated in iBox

Note that I have changed the Long Term trend to Long.

Futures are green. FTSE is trading close to HOD. TNX gapped down huge, and can't fill the gap so far. The market looks mixed to bullish at the moment. The testing signal doesn't know what to do. With money already committed in the bond market, I think we could fade this gap up. On a daily basis, we are bullish (pretty obvious), and as I posted before, I think we are heading back to 9000. However, I still think that we should fall back to 8600 and possibily 8500 before we can take off to 9000.

No economic number will come out during the trading day.

INDU's 5 day MACD support at -30, resistance at +40. A short at +40 is what I'm looking for.

INDU should have a trading range between 8550 and 8750.
NDX should have a trading range between 1140 and 1170.
SPX should have a trading range between 930 and 950.
JMHO.

[Bernard Ng]

IndexPulse TrendWatch for Friday

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 HOD. TNX gapped down and trading at LOD. The market looks bearish at the moment. The testing signal suggests that we should sell every rally and hold on to it. We will probably go back to 8600. With a weak Semi Book to Bill ratio, we might head back to 8550.

Mich Sentiment-Prel. will come out at 9:45am during the trading day. It will affect the market, the number will be good... I think, but the reaction could be the opposite.

INDU's 5 day MACD support at -30, resistance at +40. The market doesn't know what to do, I think we will take it to -30.

INDU should have a trading range between 8550 and 8730.
NDX should have a trading range between 1140 and 1165.
SPX should have a trading range between 930 and 945.
JMHO.