June 19, 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
No working orders.
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Yesterday continued this recent rally with a strong bullish close in the S & P 500.
This recent rally began with the failure of the VIX to get through 15.63 on Tuesday.
Yesterday's low for the VIX was 12.54 or 4 cents above what has been a very strong support line for the VIX.
This makes me cautious and makes me believe we should get a pause.
Stocks...
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VIX:? Key levels are 12.50 and 14.06
Above 15.63 is 16.41.
Short term levels:? 10.94
S & P 500 Cash Index: ?
The S & P 500 hit the 2,125 level I mentioned yesterday.
The high for the day was 2,126.65.
2,109.40 and 2,101.60 should be a support level. ?
2,132.80 should act as resistance.
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Nasd 100 (QQQ): Key levels now are 112.50 and 109.38.
Yesterday, the QQQ closed at 110.69 or .53 above the
110.16 level I mentioned yesterday.
If the QQQ can close above 110.16 today, the objective becomes 112.50.
Support should be at 108.59 to 109.38.
TLT:? Key levels are 118.75 and 115.63.
The TLT closed just under the 118.75 resistance level yesterday at 118.15.? 119.53 should act as resistance.
If the TLT can close above 119.53, it would pave the way to a move to 121.88.
117.96 should act as support.
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GLD: Key levels are 115.63 and 114.06.? The GLD is trading between these levels. ?
I mentioned yesterday that I would not get excited about the metals until they closed above 114.06 and yesterday, they closed at 115.32.
If it can close above 114.06, the metals will be worth looking at.
XLE: Key levels are 78.13 and 75.
Key levels for the XLE are 77.34 and 75.78. I would expect a move back to test 75.
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Watch list:
Bullish Stocks: GS, PANW,? AMBA, GILD, AET, GD, NKE and MA
Bearish Stocks: PCLN, CMG, GOOGL, Z, KLAC, CAR, and WDC
