May 18, 2017

Market outlook

Daily charts
- trend is up on daily charts
- today, markets opened gap down and closed 1% in negative
- AD was 1:4 while VIX shot up 12%
- in any uptrend, 2-3 days of lower high lower low is acceptable.
- support 9400
- for trend reversal, I will look for faster retracement of upmove this month.

5 min charts
- gap down opening below prev day's support hints at trend change
- best shorting areas are shown in circles
- cover at close.

No comments:

Post a Comment