November 25, 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 16 $27 Call
Net Debit - $.80

X Long at $14
Premium collected - $.89

ASNA Long at $14.20
Total Premium collected - $.75
Short Nov $14 Call - $.45 collected

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The levels for yesterday were picture perfect, with the low for the S & P 500 stopping right at the minor support level which was 2,070.33.

This also happened to coincide with the VIX reversing off of a key level, which was 17.19.

I will show these charts on today's webinar, which hopefully you can make if you are not traveling.

The question now is where do we go from here?

The VIX should push down to the 14.06 or 12.50 level, again.? At those levels, we will most likely see the markets pull back.

For the S & P 500, minor resistance is at 2,109 and ultimately I believe it hits 2,125.

However, the S & P has to clear 2,093.80.? This level has been strong resistance and if it does clear that level, I would expect a pullback.? Keep your eye on how it trades around this price.

There will be no update tomorrow because of the Thanksgiving holiday here in the states.

I wish you and your family a very Happy Thanksgiving!

Here are the key levels for the markets.
?
VIX:?

Major level - 25.00
Minor level - 23.44
Minor level - 20.31
Major level - 18.75 *
Minor level - 17.19 *
Minor level - 14.06
Major level - 12.50

17.19 acted as resistance yesterday.? The VIX sold off that level and closed at 15.93.

The VIX should try and retest 12.50, but keep an eye on 14.06 which has acted as support.

S & P 500 Cash Index:?

Minor level - 2,101.62
Major level - 2,093.80 *
Minor level - 2,085.98 *
Minor level - 2,070.33 *
Major level - 2,062.50
Minor level - 2,054.68
Minor level - 2,039.12
Major level - 2,031.30

Yesterday's low was was within 4 cents of the 2,070.33 level.?

At this point, 2,085.98 should be support.
And a close above 2,093.80 would be quite bullish.

Nasd 100 (QQQ):?

Minor level - 116.41 *
Major level - 115.63
Minor level - 114.85
Minor level - 113.28 *
Major level - 112.50
Minor level - 111.72
Minor level - 110.16
Major level - 109.38

The NASD market still remains strong.?
Yesterday's low was 34 cents above the 112.50 support level.

The objective should still be up to 115.63.

112.50 should act as support.

TLT:?

Major level - 125
Minor level - 124.22
Minor level - 122.66
Major level - 121.88
Minor level - 121.09
Minor level - 119.53 *
Major level - 118.75
Minor level - 117.97
Minor level - 116.40
Major level - 115.62

Objective should still be back to 121.88.

GLD:

Major level - 106.25
Minor level - 105.46
Minor level - 103.91
Major level - 103.13
Minor level - 102.34
Major level - 96.88

The GLD is bouncing around the 103.13 level.? This market is oversold and has become quite boring, which is precisely when you should start looking at a market.

I think with a bit more consolidation a major bottom maybe forming.

XLE:

Minor level - 75.78
Major level - 75.00
Minor level - 72.66
Major level - 71.88
Minor level - 69.53 *
Major level - 68.75
Minor level - 67.97 *
Minor level - 66.41
Major level - 65.63

Like the GLD, the XLE is oversold.? Yesterday had a nice bounce and the XLE closed above 68.75, at 68.82.

It will need two closes above 69.53 to move up to 71.88.

Apple:

Major levels for Apple are 125, 118.75, 112.50, 106.25, 100, and 93.75.
106 should be a major support level for Apple.?

The downgap is still a level to watch, which is at 112.

Apple did hold the 118.75 level, which should now be support.

Watch list:
Bullish Stocks: AMZN, COST, MNST, DIS, RTN, HD, DHR, DY, VRSN, JPM, AFL, DIS, MNST GE, XRS, OMI, PSX, ADBE, TSO

Bearish Stocks: CMG, ANTM, UNH, CBRL, CVS, WYNN, JWN, TGT, AKAM, CF, QCOM, DKS, BKE, APC, GNC, COG

Be sure to check earnings release dates.