Market outlook

Daily charts
- markets rangebound on EOD charts
- today, markets sold off from day's highs
- AD flat; VIX up 12%
- option writing resistance seen around 7600 levels

Hourly charts
- markets rangebound on hourly charts
- today we had a big down bar on hourly charts

5 min charts
- markets rangebound for better part of the day
- break below range (note: includes some part of previous day also) was sell signal
- cover on close