December 22, 2014

Market outlook

Trend is down and will reverse on close above 8630 spot.

Within this trend which is down (on daily charts), we have bullishness on hourly charts. This will reverse on close below 8200.

Note that markets close nicely in the positive, the advance decline has not been encouraging - it is roughly at 800-600.


EOD charts


Hourly charts show trend as up and will reverse on close below


Note the single large bar above... all gains happened in last one hour.

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