January 13, 2015

Market outlook

Slower retracement in place even as markets form "higher high higher low" for 4th consecutive day. Note today's close was within the range of yesterday's bar.

The broader view is continuation of rangebound trading for some more time. Form this perspective, this still remains a day trader's market.

EOD charts:

Intraday charts: point to minor resistance at 8340 F and support at 8270F... below this level, correction is expected to get worse.

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