March 1, 2017

Market outlook

Daily charts
- trend is up on daily charts
- today, markets closed nicely in positive
- AD was positive. VIX down 1%
- stiff resistance around 9000 persists
- option writing support 8800 resistance 9000
- expect trend reversal if trendline support breaks





5 min charts
- breakout from box was buy signal
- I ignored it as first candlestick showed selling at higher levels
- second buy signal was breakout above 8950
- I ignored this because of expected resistance around 9000 levels



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