August 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

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

NFLX Long Aug 21 -$125 Call
NFLX Long Aug 21 - $127 Call

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As a quick reminder, the Mad Day Trader Webinar is today at 12:00 EST.

It appeared that the S & P 500 would hold and close above the 2,097.70 level yesterday, but it didn't.? It closed on the day at 2,096.92.

This means the count restarts and we still need two consecutive closes above 2,097.70 for the market to move up to 2,109.40.

Support at this point should be at 2,093.80 and 2,089.90.? 2,086 should also be a support area.

Today at 2:00 EST, is the release of the Fed meeting minutes, which should be highly watched.? This can result in excess volatility for the markets.

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

Resistance on the VIX should be at 14.06 and 15.63.
Major support at 12.50.

S & P 500 Cash Index: ?

Minor level - 2,132.82
Major level - 2,125.00
Major level - 2,109.40 *
Minor level - 2,105.50
Minor level - 2,097.70
Major level - 2,093.80 *
Minor level - 2,089.90
Minor level - 2,082.00
Major level - 2,078.10 *

A close today under 2,097.70 and the S & P should move back to 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 closed yesterday at 110.86, just 6 cents under the 110.94 level.

Support should be at 110.16 and 109.77.

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

A close today under 124.22 and the TLT should retest the 121.88.

Short term timeframes remain in uptrends.

Should be volatile today.

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

Yesterday's low was 106.31, just 6 cents above the 106.25 support level.

The GLD did close above 107.03 yesterday, so the objective is 109.38.

XLE:

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

The 68.75 level? continues to act as support.
Two closes above 69.53 and the objective becomes 71.88.

Two closes under 67.96 and the objective is 65.63.

Apple:

The objective remains up to 118.75.? Apple is slowing moving up to the objective.? Apple closed yesterday at 116.50.

Major levels for Apple are 125, 118.75, 112.50 and 106.25.

Watch list:
Bullish Stocks:? GOOGL, LMT,? BWLD, MLM, GD, STZ, VRTX, BA, FLT, NFLX, MA, ADBE, CLX, RAI, ALK

Bearish Stocks: FDX, BIDU, IBM, MMM, RL, DDS, ASML, Z, DECK, XLE, FOSL,QCOM, GMCR

Be sure to check earnings release dates.