August 13, 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
GOGO? Long at $19.93
Premium collected - $1.25
NCR Long Jan 15 $27 Call
NCR Short Jan 15 $32 Call
Net Debit - $1.70
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If you were on John's webinar yesterday, then you heard me say what the specific conditions were for the market to reverse.
I stated that I wanted to see the VIX close under 15.63 and the S & P 500 close above 2,062.50 and that would be the clue that you would want to be long.
Just after 12:00 Eastern time, the VIX closed at 15.50 or 13 cents under the 15.63 level.
The S & P 500 closed at 2,063.54 10 minutes later.
From there, the S & P rallied to a high of 2,089 yesterday.
Almost a 26 point rally just by knowing the VIX levels.
The rally yesterday was the largest in quite some time.
Now the question is this ... can the S & P 500 close above last week's high of 2,112.66?
Here are the key levels for the markets.
Stocks...
?
VIX: ?
Major level - 17.19
Major level - 15.63
Minor level - 14.45
Major level - 14.06 *
Minor level - 13.67
Minor level - 12.89
Major level - 12.50
Minor level - 12.11
Major level - 10.94
The VIX closed yesterday at 13.61.? A close today under 13.67 and it will want to retest 12.50.
S & P 500 Cash Index: ?
Minor level - 2,132.82
Major level - 2,125.00
Major level - 2,109.40
Major level - 2,093.80
Minor level - 2,089.90
Minor level - 2,082.00
Major level - 2,078.10
Minor level - 2,074.20
Major level - 2,062.50
A close today above 2,082 and the active objective becomes 2,093.80.
Nasd 100 (QQQ): ?
Major level - 115.63
Minor level - 113.28
Major level - 112.50
Minor level - 112.11
Minor level - 111.33
Major level - 110.94
Minor level - 110.16
Minor level - 109.77
Major level - 109.38
The QQQ continues to be the strongest of the major markets.
The QQQ is almost back to the 110.94 level.
And a close today above 109.11 and 110.94 is the objective.
Minor resistance should be at 111.33.
TLT: ?
Minor level - 125.78
Major level - 125
Minor level - 124.22
Minor level - 122.66 ?
Major level - 121.88
Minor level - 119.53 ?
Major level - 118.75
Major level - 115.63
The 125 objective has been achieved.
I mentioned yesterday that ... "Minor resistance should be at 125.78 and support should be at 121.88."
The TLT stopped at 125.71 or 7 cents under the resistance level.
GLD:
Major level - 109.38
Minor level - 107.03
Major level - 106.25
Minor level - 105.46
Minor level - 103.91
Major level - 103.13
Minor level - 102.34
Major level - 100
A close today above 107.03 and the objective becomes 109.38.
XLE:
Major level -? 75 ?
Minor level - 74.21
Minor level - 72.66
Major level - 71.88
Minor level - 71.09
Minor level - 69.53
Major level - 68.75
Minor level - 67.96
Major level - 65.63
Major level - 62.50
A close today above 69.53 and the objective is to 71.88.
Apple:
A close today above 114.06 and the objective is 118.75.
Major levels for Apple are 118.75, 112.50 and 106.25.
Watch list:
Bullish Stocks:? PCLN, REGN, MLM, GD, STZ, NFLX, TSO, ADBE, VLO, CLX, HON, RAI, ALK
Bearish Stocks: BIDU, IBM, RL, DDS, UNP, CVX, Z, DECK, XLE, FOSL,QCOM, GMCR
Be sure to check earnings release dates.
