September 1, 2016

Market outlook

Daily charts
- trend is up on daily charts
- today markets closed flat
- advance decline was negative
- deep support 8500
- option writers bullish that 8500 will not break this series

5 min charts
- markets rangebound today
- yesterday's high and support were critical levels today
- did nothing today
- circled area is one where a short could be considered.

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