August 21, 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

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No Positions

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Today's Working Orders

No working orders

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Stocks...

DAX...today's resistance is 9378. Sustained action above should lead to a test of the 200 DMA @ 9500.

DXJ...put in an ORH day on Abe new stimulus plan. 50.35-66 is short term resistance. Closing over this level tomorrow starts a new Bull leg up.

Bonds ...

Bunds...149.88 is support and the downside pivot.

Gilts...11202 is support and the downside pivot

FX...

AUD/USD...92.38 looks to be good support. On the weekly charts, which is the bottom of the recent range this month.

AUD/JPY...is the cross that bears watching. The low was put in Aug 8th @ the 200 DMA the same time the S&P 500 bottomed.

96.53 is the Monthly ORH#. A monthly close over this level should see this being a top performing cross over the 4th qtr.

This should track with a risk on board.

Commodities...

Gold...has a potential double bottom on the longer term Point & Figure at last night's low, however failure to claw back above it's 200 DMA is not positive.

Crude...sell any rally to 95.00 with a tight stop.

Natgas...is trying to bottom the general parameters are 3.73 support.

3.91 is the momentum area with 4.11-16 resistance.

General Comments or Valuable Insight

I would expect today to be another grind with traders awaiting Jackson Hole statements tomorrow.

For Medium Term Outlook click here.

?For Glossary of terms and abbreviations click here.

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