September 17, 2014

Market outlook

Trend is up with support at 7540 spot.

On my swing indicator, trend reversal will be confirmed on close below 7850 spot.

NOTE: this sell signal can sometimes lead to a whipsaw as profits to date are high at 1700+ points and after a strong trend it is normal for markets to trade sideways and thus generate false signals.

EOD charts

Hourly charts show sell with reversal at 8060 spot.

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