March 8, 2016

Market outlook + my trades

Daily charts
- trend is up on daily charts
- today markets closed flat
- AD was flat; VIX up 3%
- expecting strong resistance around 7600 levels
- immediate support 7200




Hourly charts
- trend is up
- support developed around 7400
- retest of 7200 possible??



5 min charts
- took short trade at arrow location
- covered on breakout from second box
- will consider short trades tomorrow again


My trades
- intraday short trade gave 6K profit
- positional short trade in 7600 call covered in 1 point loss.,,, needed the money for few days so covered today.



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