June 23, 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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The VIX is back to testing the 12.50 level.? Yesterday's low for the VIX was 12.43 and it closed at 12.74.
The drop in the VIX has helped the markets continue their upmove.
The key now is if the VIX can break under 12.50.
12.50 has been strong support on the VIX for over three years now.
I have to respect that level.
Stocks...
VIX:? Key levels are 12.50 to 15.63
Short term levels:? 14.84, 13.28 and 11.72
The VIX would need two closes under 11.72 to head lower.
S & P 500 Cash Index: Key levels are 2,125 and 2,132.80
2,117.20 and 2,109.40 should be a support level. ?
2,132.80 should act as resistance.
The S & P 500 would need two closes above 2,132.80 to head higher, with an objective to 2,156.30.
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Nasd 100 (QQQ): Key levels now are 112.50 and 109.38.
109.38 to 110.16 should be support.
If the QQQ can close above 110.16 today and tomorrow, the objective becomes 112.50.
Yesterday, the QQ closed at 110.70, so if it can close above 110.16 today, it should try and make a run to 112.50.
TLT:? Key levels are 118.75 and 115.63.
The TLT closed above the 118.75 resistance level yesterday at 119.09.? 119.53 should act as resistance.
Yesterday high was 119.18, 35 cents under the resistance level of 119.53 I mentioned.? From there, the TLT sold off and closed at 116.65.
115.63 and 114.85 should be support. ?
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GLD: Key levels are 115.63 and 114.06.? The GLD is trading between these levels.? Yesterday, the GLD sold off to under the 114.06 level.
A close today under 113.67 and the GLD should drop to 112.50.
XLE: Key levels are 78.13 and 75.
Short term support levels for the XLE are 77.34 and 75.78.
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Watch list:
Bullish Stocks: NFLX, PANW, GS, GD, GILD, AET, DIS, NKE, SPLK, ABBV, SBUX and FEYE
Bearish Stocks: PCLN, CMI, WDC, SNDK, CAR and KORS
