May 4, 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 current positions
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Today's Working Orders
No working orders
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Stocks...
Nikkei...19,400 will continue to act as support and the closing downside pivot.
Nasd 100...needs price action over 4471 to rally. 4430 's is initial support.
IYT...had a big Friday rally. I need to see sustained price action over 157 for higher.
price action back below 156.28 ( 200 DMA) puts this back on the defensive.
IBB...needs back above 348 and 2 closes over 355 to see much upside.
Bonds ...
Bunds...the short-term time frame is getting oversold. Resting pattern sell stops are @?155.74. Maintaining and closing below this level would mark the technical top of this instrument.
30 Yr. Bonds...the long end is trading oversold. Eventually, this should trade close to the old continuation high of 153.11
FX...
EURO...112.50 is weekly mvg avg resistance. Sustained price action and a close under 111.28 ( today's 1st support level) can lead to a test of 110.
EUR/AUD...this cross failed to trade it's 200 DMA late last week. Below 142.00 look for the Euro to lead weakness in this cross back towards 140.60
Commodities...
OIL..61.20 should prove to be good resistance the first time up.
General Comments or Valuable Insight
Spu/Bond is breaking out above it's 50 DMA. Look for the U.S. to run the show today.
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