November 2, 2016

Market outlook

Daily charts
- trend is up on daily charts
- markets trading withing falling channel
- strong support around 8500 levels
- high chances of this breaking
- today, NF closed 1.3%
- AD negative, VIX up 7%
- below 8500, correction possible to 8000-7800 levels




5 min charts
- gap down opening
- followed by rangebound trading
- profits only for positional short traders
- I am short on 15 min charts for 2 days... still short.
- 8500 still holding



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