October 27, 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
Short (EU6Z) EURO ? ? ? ? ? ? ? ? ? ? ? ?? 127.27? ? ? ?? 127.43???????? 124/122
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Today's Working Orders
Now working orders.
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Stocks...
MVV...66.25 is 200 DMA resistance. This will take under 64 to see any real selling.
61.25 is the low risk buy zone, where new longs will puke.
DAX...89.00 is mvg avg support. This will be a pivotal level. DAX either holds in here or it will be vulnerable to a break to 8725.
Bonds ...
30 Yr. Futures...need back under 141.12 close to head lower. Price action over 142.10 will have investors seeking refuge in the bonds for the Sunday Bank stress tests results in Europe.
Bund...has a double top @ 151.12. 150.00 is mvg avg support.
Stuck in the middle.
FX...
Euro....we'll keep our resting stop @ 127.43 working 24 hours a day.
EUR/JPY...136.60 is pattern support for the cross to hold.
Near term sell stops are @ 136.50. A Running of these sell stops would seem to match up with the 8900 level in DAX today.
USD/JPY...? 107.60 (92.85 Futures) is resistance.
Commodities...
OIL...80 dollars is natural support. Sustained price action under targets 77.50 with the next set of macro sell stops @ 77.28.
Resistance is 82.45 with a close over 83.15 needed for bottoming action.
Brent...84.50 is support. This now becomes the downside closing pivot as well.
Closes under 84.50 is needed for another swing down.
General Comments or Valuable Insight
The U.S. Equity/Bond spreads got close to tit's 200 DMA last night before some profit taking ensued.
Today's board revolves around the DAX @ 8900 support.
By holding support Yen resistance will not be violated, however a failure to hold could see the Yen move toward 106.85 ( app 93.71 Futures).
Pay attention to the Dax and the New York opening for the direction of the next swing.
It's your market barometer today.
OIL is a slow train wreck. Rallies continue to fail as does the Russian Rouble.?
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.