August 10, 2015

Market outlook

- much expected correction is starting
- we got stopped out of longs in JULY
- and the rally since the correction is taking a longer time
- so while there is no buy signal, there is no short signal also
- with today's move, I would like to consider trend reversal happening
- so will be bullish above 8650 only
- below 8450, expect intensity of correction to worsen.

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