December 28, 2016

Market outlook

Daily charts
- trend is down on daily charts
- today, markets closed flat and formed an inverted hammer
- AD was 2:1, VIX up 3%
- option writing support 8000 (this and next series)
- stiff resistance 8300



5 min charts
- breakout from first box was buy signal
- break down from second box was exit
- today's low is crucial for tomorrow
- I wrote 7900 PE (JAN series) around 72 at end of day




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