December 18, 2013

Market outlook

After 6 days of decline, markets closed nicely in positive. Swing low at 6100 (roughly) is now important.

Intraday charts point to a sharp rally... holding above 6220F will be bullish tomorrow.

30 min charts point to a breakout.... close above 6220F has changed bias to bullish.

In other words, consider a good possibility that trend has reversed to positive from current levels. Only a close below 6220F will negate this bullishness.

The above view is based on 30 min charts.... on daily charts, markets are rangebound with no clear bias/ direction.

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