January 20, 2016

Market outlook

Daily charts
- trend is down on daily charts
- today, markets closed 1.7% in red but formed an "outside" bar
- AD negative; VIX up 14%
- option writing not giving clear clues
- expecting good support around 7200 levels on weekly charts





Hourly charts
- trend is down on hourly charts
- reversal level is 7470 F


5 min charts
- chart is posted for reference only
- did not trade today
- some signs of buying off day's low


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