September 27, 2017

Market outlook

Daily charts
- trend is up on daily charts
- fast reversal/ move in opposite direction  warns of trend reversal
- I had posted about similar fast move in first 2 weeks of Aug
- today, NF closed 1.3% n negative at 9734
- NF made no attempt to hold above 9900
- AD was 1:6
- VIX was up 6% (not much)
- swing low support at 9700
- if this support holds, then expect a strong technical pullback/ relief rally.

5 min charts
- short trade on break of support
- earlier short trade possible in circle area
- cover on close

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