January 20, 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 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
No open positions.
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Today's Working Orders
No working orders.
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Stocks...
SPU's...2028 is daily resistance and the upside momentum #.
Nasd 100... 4182 is daily resistance and the upside momentum #.
Bonds ...
30 Yr. Futures...149.00-148.30 is pattern support and the downside momentum level.
FX...
GBP/USD...the pounds are set to retest the long term qtrly sell stops from 148.13-30.
CAD/JPY...this is my favorite Cross to use as a Risk on surrogate, providing a great way to enter a short Yen position when looking for a low in the equity Indices.
99.16 is near term momentum resistance. Sustaining above, should see this move in 40 tick increments.
USD/JPY...a close over 118.90 is needed to confirm more downside in the Yen.(84.10 Futures).
USD/CAD... 119.20 is near term resistance in the Loonie (app 83.76 Futures).
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Commodities...
OIL...CME Futures expire today. 46.60 is a pivotal hold level.
Brent...47.70 is the near term pivot. Closing under this level is needed for another sell off. Sustained price action above 50.60 is needed for short covering.
Silver...17.15-20 is support and the low risk buy zone. 1846 is the 200 DMA.
GOLD...1255 is the 200 DMA (support). 1242-45 is the lowest risk daily buy level.
1300 is resistance. Sustained closes above 1300 can lead to a test of 1400.
General Comments or Valuable Insight
Trade the technical levels in any instrument your interested in.
The board has been Risk On since Friday, led by the Dax. I don't see much change in that assessment going into the ECB meeting early Thursday A.M.
If I had to pick one instrument to key off of going into the meeting it would be EUR/JPY.
140.18 is the 200 DMA. An over run of the level just shy of 141.00 would provide a low risk place to short the Euro via the cross.
A move of this length would run all the Euro bears out of the market.
British Pound
Canada/Yen
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.
