September 7, 2018

Market outlook

Daily charts:
- trend is up on daily charts
- today NF closed 0.5% in positive at 11590
- AD was 10:7
- option writing support 11500

Some questions:
- 3 days of hammer being formed
- none of this has led to a gapup/ strong breakout
- slower pace of rally is not a bullish sign
- flip side is AD for past few days is supporting bullish view

5 min charts:
- did not trade today

- breakout from range was buy signal
- cover at close

- Next week, break below 11580 F can lead to correction

Same chart with kplswing indicator

15 min charts:
- trend is up
- note rally within channel
- channeled moves are corrective
- resistance 11650 F

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