September 29, 2016

Market outlook

Daily charts
- trend is up on daily charts
- my reversal level for this trend is 8500 levels
- note today's 2% drop is big move
- VIX up 30%
- option writers do not expect 9000 to be crossed next series.

5 min charts
- break of initial range was sell signal
- cover on close
- those who shorted on break of 10am low and covered at close would have earned excellent profits

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