November 15, 2016

Market outlook

Daily charts
- trend is down on daily charts
- trend has been down ever since NF closed below 8500 levels
- today, NF was down more than 2%
- Advance decline was negative, VIX up 16% (works in my favour)
- expecting good support around 8000 levels - let's see

5 min charts
- island reversal effect sees more correction
- break of initial range was sell/ cover at close
- tomorrow, holding above 8220 F will be bullish

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