March 14, 2017

Market outlook

Daily charts
- trend is up on daily charts
- today, NF gapped up, gained 1.7% and closed above 9000
- this is the 5th or 6th gap up in this rally
- too many gapups without any correction is not good for markets
- today's trading range was extremely small
- VIX down 11% (advantage option writers)
- option writing resistance 9200, 9500

5 min charts
- all gains to positional traders
- no intraday trade as NF extremely rangebound.

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