November 22, 2016

Market outlook

Daily charts
- trend is down on daily charts
- today, markets closed in positive
- AD was positive, VIX down 3%
- after a steep correction, a "dead cat bounce" or relief rally is possible
- this can continue for 2-3 days




5 min charts
- yesterday, posted that trading above 8000 would be bullish
- breakout from box was only possible low risk trade
- an even lower risk trade is buying near box lows (higher chances of failure)




2 comments:

  1. Sir I have confusion regardng VIX ,On last Friday, mkt was reasonably down and vix was +7%.Today mkt was up but vix is 3% down,Wll you please elaborate regarding VIX up N down?

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