April 17, 2015

Market outlook

- we have 3 days of selling
- yesterday's buying at lower levels failed to show its effect on today's chart
- correction this week negates all gains made this week
- expect more weakness if markets trade below 8600 next week
- option writing points to resistance at 9000.
- EWT followers might see formation ABC-X-ABC where the X just got over (8270 to 8850) and the A started now.
- ignore above if you cannot understand EWT.

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