August 12, 2015

Market outlook

- overall trend is down
- markets have lost more in 3 days than what they gained in 7-8 days
- advance decline negative
- markets close below recent swing low and form a lower swing high in the process
- expect strong support around 8300 levels
- I expect 8300 to break sooner or later.
- option writing support at 8200 resistance 8700

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