September 18, 2015

Market outlook

- trend is down on daily charts
- today markets opened gap up but failed to sustain at day's highs
- big drop in VIX approx 17%
- option buyers lose despite big overnight gains in underlying index/ stocks.
- today close = open + tall body implies doji/ hanging man
- advance decline positive
- chances of correction are high based on option writing clues
- most likely we may have retest of 7500/ 7600 levels.


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