While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Jim Parker, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
NASD 100…is attempting an ORL week with a futures close under 3549.
The pattern has just filled the weekly gap left from the Fed meeting in Dec. @ 3536.50.
You’ve have potential reversal weeks up in the Aussie and Gold to the upside.
GOOG…put a new all time high in this week. A close today below 1105 puts in an ORL week. A close below 1101 would have me looking for an initial 40 dollars lower.
XLE…has to maintain a close above 86.65 for the uptrend to remain viable.
1/6/14 is Mutual Fund Monday. It will also be the first full day of trading for all those holiday warriors.
The Equity Indices need to hold these near term lows and rally after 12:30 CDT to avoid another wave of profit taking.
We have 2 trailing stops working. They are both stop on close.
The board is setting up to be an instrument specific affair.
If these ORL patterns are elected in the Equity Indices & Goog, it will be a while before another buy in the market sets up.
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