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.
SPU’s…Every technician is looking at a potential double top @ 1679.50-1680.25.
Resting short term stops are 1669.75.
You would need a close below 1667.50 to get me interested in picking a short term high.
IYT…114.64 is today’s ORL #. A close below this level would signal a short term high.
GOOG…916.36 is today’s ORL #. A close below this level would signal a short term high.
Nasd 100…3063.50 is today’s ORL #. A close below this level would signal a short term high.
VIX…price action over 14.14 cash.
Unless you see all these instruments lining up late the overbought grind up continues.
Tesla…there are resting sell stops @ 118.82 which, if elected, could lead to 113.70. Only a Friday close under 118.82 would signal a deeper sell off.
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