March 13, 2014

Market outlook

Despite initial bias being bullish, markets close at day's low... now uptrend is in doubt and will be confirmed if recent supports break.

On a different note, VIX did not increase indicating any correction at this point may be limited and therefore smart money is not really worried.

Expect support at 6400.. this is where option writing still remains the highest. This was also the level which took 5 months for a breakout so on the downside, it should logically offer very good support.

No comments:

Post a Comment

Share this...