August 30, 2016

Market outlook

Daily charts:
- trend is up on daily charts
- today markets up 1.6%
- advance decline nicely positive
- today's closing is highest for this year
- option writers bullish; do not expect 8500 to break
- my support level for this market - 8480


5 min charts
- breakout from initial trading range was bullish
- cover at close


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