October 20, 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
No open positions.
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Today's Working Orders
No working orders.
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Stocks...
NASD 100...there is room up to 3850 to rally as long as it holds a retest back to the 200 DMA @ 3770.
Nasd Sell stops are building below 3742.
Spu's...resistance 1891, 1904,1917. These were the support levels coming down which are now resistance.
Last years close of 1846 is now support and the pivot on the point & figure chart.
AAPL...needs a close over 99.10 to turn up.
VIX...could make another run toward 24.60 resistance.
Bonds ...
TBT...will need a close over 51.11 for bottoming action.
30 Yr. Futures...141.22 is Fib support. Price action under 122.09, short term support, is needed for lower. Resistance is 144.00.?
FX...
GBP/USD...162.20 is resistance and the low risk sell zone.
USD/JPY...is caught between 107.65 (92.89 Futures) and 106.30 (94.07 Futures).
Commodities...
OIL..85.20-50 is resistance.
Brent...84.50 is support and the low risk buy zone with a 25 point tolerance.
88.20 is resistance and the closing upside pivot.
Natgas...is very close to rolling over with a couple of closes below 3.70.
General Comments or Valuable Insight
The "Risk On"? "Risk Off" volatility looks to continue through the week.
The Equity Indices will travel to the macro resistance outlined above and stop at every level to come back down before they can form up for a test at a higher high.
Pick the instruments you wish to trade and mach them up with the macro levels.
At this juncture we'll be looking to find another mid week low to trap new shorts.
I.E. some names had 20+ rallies off their lows Thursday into Friday's resistance in the Spu's. Investors should not be looking a gift horse in the mouth when you get a day and a half return of such proportions.
It's going to be a high volatility trade.?
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For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.
