July 8, 2013 - MDT Midday Missive

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.

XLU...37.25 close will signal the worst is over for the Utilities.

XLP...a close above 40.40 will lead to another up move.

XLV...as long as healthcare closes higher on the week we remain friendly.
XLI...43.31 is support.
XLF...must remain above 19.82 on early breaks and not close below 19.40 to remain positive.

ECA...a close over 17 puts in a short term bottom.

EWW... (Mexico) as long as this remains above 64.50 close this has a 67.50 1st tgt.
IFN...(India) 19.04 is support. A close today over 19.25 would signal a near term low with a 19.65 first tgt.

DAX...a close over 80400 would signal a near term bottom.

Look for lower rates " Higher 30 Yr. Futures" to be supportive of Gold and Silver.

GLD...holding 119.40 is needed to avoid lower retests.
A close over 120 should lead to an initial 2 dollar rally.

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