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.
VIX…15.16 is closing resistance. The low of the day was close to the 200 day again.
Day traders should be using the the Vix for the tool that it is.
At resistance you should be taking profits on shorts or minimally not pressing direction in the hole after a 50 point Spu break!
Of course if you’re a good enough day trader you can look for contra trend bounces.
On the support front, pay attention to the 200 day, 14.45, for failed rallies in the Equity Indices.
Match 14.45, in the Vix cash, up with the high of any rally in the Spu.
OIL..resistance is 104.70-105.30. Only closing over 104.70 is Bullish on my work, even then I would be reluctant to look for anything more until Sunday night.
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