May 20, 2016

Weekend market update

Weekly charts
- markets outside 'expanding triangle'
- last 3 weeks, signs of selling near 8000 levels
- no selloff seen as yet
- swing low/ support around 7500 levels




EOD charts
- trend is down on daily charts
- markets closed in negative
- advance decline negative, VIX down 4%
- support 7700 resistance 8000





Hourly charts
- range bound trading



5 min charts
- rangebound trading
- notice how markets could not close above 7820 F
- attempted a long trade; failed with small loss


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