January 21, 2016

Market outlook

Daily charts
- trend is down on daily charts
- today markets closed in negative; AD was positive
- trading range was within previous day's outside bar
- sustaining above 7500 will be bullish in short term





Hourly charts
- trend is down on hourly charts
- buy above level is 7400 F
- nice step patterns in this correction (this is rare)



5 min charts
- break below 1st box was sell signal
- break above 2nd box was buy signal (bar bigger than several previous down bars)
- break below 3rd box was exit longs... did not consider short trade because of supports nearby


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