February 1, 2016

Market outlook

Daily charts
- trend is up on daily charts and will be suspect on close below 7400
- immediate support 7400 resistance 7700
- above levels are also supported by option writing



Hourly charts



5 min charts
- today markets traded in a range
- this is not surprising considering previous day's 2% move
- a slower correction like this for 1-2 more days will be bullish


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