MARKET Setup

NIFTY, along with other Global Markets have to deal with a critical (VIBRATION DATE) tomorrow
A daily close, across markets, below Tomorrows low would make short-term TIME cycle Bearish
A break of 16,000 on (NIFTY) have eliminated the probability of 16,400 for now
I would be more watchful In U.S. MARKETS,More specifically S&P, and NASDAQ, If markets breaks 3740, and 11,000 on both Indices respectively, I certainly have to rule out all upside possibility for near term
I would had been more comfortable if U.S. INDICES have turned down from slightly higher levels
But as analysts we have to accept what markets gives us, for slightly medium term I only have 1 view which is extremely bearish
From here I wont mind short-term bounces
Overall I am pretty clear and convinced with my view
Equity markets accross continents have to go down and make fresh lows for the year
Yes, have to deal with volatility but eventual direction would be on downside