June 15, 2015 - MDT Pro Tips A.M.
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 Bill Davis, 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.
Current Positions
No current positions.
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Today's Working Orders
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This week is the FOMC meeting on Tuesday and Wednesday, with a statement on Wednesday at 2:00.? This event has the potential
to create extra volatility for the markets.
Debt negotiations in Greece seems to have stalled and that is creating a sell off in the markets today.
Stocks...
VIX:? Key levels are 15.63 and 12.50
Above 15.63 is 16.41.
Below 15.63 is 14.85
As I write this, the VIX is trading at 15.57, just under the 15.63 resistance level.? If the VIX gets through 15.63, expect further selling pressure in the markets.? If it stalls and heads down, look for the markets to find support.
S & P 500 Cash Index:? Key levels are 2,093.80 and 2,062.50.
Short term support should be at 2,070.33.? If the S & P can close above 2,070.33 or two straight days, expect a rally back to 2,093.80.
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Nasd 100 (QQQ): Key levels are 109.38 and 106.25.
Short term support at 107.03.? If 107.03, is violated, look for a move to 106.25.
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TLT:? Key levels are 118.75 and 115.63.
Two closes under 117.96 and the TLT should drop to 115.63.
119.53 should act as resistance.
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GLD: Key levels are 114.06 and 112.50.
Two closes above 112.89 and the GLD should try tto go to 114.06.
XLE: Key levels are 78.13 and 75.
If the XLE can stay above 75.78, look for a move up to 78.13.
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Watch list:
Bullish Stocks: NFLX, FDX, GS, PANW, ALNY, AMBA, GILD
Bearish Stocks: CMG, Z, KLAC, CAR
On this week's webinar, I will share how to read the VIX levels to help time the markets.
