December 27, 2016

Market outlook

Daily charts
- trend is down on daily charts
- today, markets closed 1.6% in positive
- advance decline was 3:1, VIX down 10%
- buying was from 7900 region which is a very good support
- pattern almost formed today : bullish engulfing bar
- option writing support 7900 (this series)
- option writers see limited upside in JAN series (max 8500)



15 min charts
- breakout from range was buy signal
- cover at close

- did not trade today as I had guests.


5 min charts


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