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.
A close for the Sept Nasd 100 minis below 3161.75 and below 3163 for the Pit session puts in an ORL day. ( 3155.25 December)
This is a price negative pattern.
Investors are taking money off the table going into the mid week Fed meeting.
After making new yearly highs today, completion of this type of pattern would not bode well for the Index.
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