February 24, 2016

Market outlook

Daily charts
- trend is down on daily charts
- today, NF closed 1.3% in negative; VIX down 3%
- I am expecting a 5 legged triangle of which 3rd leg is in process
- condition is recent lows should not break
- breakout from triangle will be bullish

Hourly charts- trend is down on hourly charts
- cluster of supports between 7000 and 6900

5 min charts- difficult trading environment today
- circled area shows possible entry areas

My trades
- did not trade today because of some personal work.
- in hindsight, NF was a difficult trade except the last short
- lot of action happened in stocks I tracked.

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