August 12, 2014 - 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 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.
Current Positions
SHORT USAU ( 30 Yr. Bond Futures) ? ? ? ? ?140.00
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Today's Working Orders
SELL?USAU?(30 yr. Bond Futures)?@ 140.14
BUY 1 USAU @ 138.14
BUY GBP/USD @ 166.75
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Stocks...
Spu...is caught between 1932 support & 1939 resistance.
1952 is 50 DMA resistance.
Nasd 100...looks better than the broader market. 3910-15? is resistance and the closing upside pivot. Do not fade price action above 3920.
AAPL...sustained price action over 96 needed for new upside momentum targeting an initial 97.45.
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Bonds...
30 Yr. Bonds...138.12-15 is first support
TBT...first resistance is 58.73 followed by 59.90.
FX...
Euro...it took 3 weeks to put in an 80 point rally. Price action and a close under 133.30 is needed to see another 100 point sell off...
USD/CHF...Suisse needs all new closing strength over 90.10 (under 109.75 Futures) to extend lower with the Euro.
GBP/USD...166.50-80 is the buy level in the Sterling. Short term traders should buy the Pound here with a tight stop.
This is 200 DMA support with RSI extremely low on the shorter time frames.
This is a good level to play for a bounce, however closing under this level for a couple of days will precipitate a much larger sell off.
NZD/USD...Kiwi failed at the 200 DMA last night @ 84.62. Although this antipodean is oversold, price action and a close over 84.80 is needed for a rally.
AUD/NZD...109.90 is resistance and the upside momentum level in this cross.
Commodities...
Brent...103.00 +- a few is the next inflection point for the Brent.
Shorter time frames are trading oversold. This has lower longer term targets.
Oil (WTI)...sell stops are @ 96.55, which would take this to around 96.25-15 for a first extreme.
Sell rallies/not breaks
General Comments orValuable Insight
Euro & Swiss are at inflection levels for another move lower. Those that have been buying dollars, let the market do the work.
This is not a level to press long dollar positions.
Equity Indices are consolidating in a small range over the past U.S. session. Further price action is needed to move out of this area.
Be patient and wait for technical levels to initiate trades.
Trade the market one level at a time.
Failure to do so will give you the summertime blues.
For Medium Term Outlook click here.
?For Glossary of terms and abbreviations click here.