September 23, 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
Long IAT?????????????????????????????????? 34.13????????? 34 Close
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Today's Working Orders
?No working orders
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Stocks...
DIG...74.75 is monthly support. 78.31 is resistance and the Monthly ORL #.
DAX...by staying below 9730, look for Dax to break in 80-100 point increments.
9560 is today's 200 DMA.
Nasd 100...has to close over 4080 mvg avg resistance for the bears to let up.
BABA...is trading around the Chinese superstitious 88 level. Closing below that level would have the Asian investors jumping ship. It's worth keeping an eye on, since it has to hold right here to keep sellers at bay.
BABA would need back over 93 close to look good in my world.?
Bonds ...
30 yr. Bonds...(Z) either roll back below 136.20 or they have a rally which needs over 137.09 to go another 20-30 ticks. For this to happen you'll need more Equity Index weakness.
Bunds...need to close over 149.31 ( 50 DMA resistance ) for higher.
FX...
AUD/USD...89.16, last years close in the Aussie, is pivotal for any price recovery.
By remaining under 89.16 Aussie can work towards 85.00
EUR/AUD...144.75 is the monthly ORH #. Holding breaks @ 144.30 keeps this cross on a path toward 148.00 it's 200 DMA.
KIWI...81.55 is resistance. A close over 81.75 is needed for a sign of a rally.
EURO...price action above 128.60 will start to run out weak shorts. 129.25 starts resistance with a close over 129.45 needed for higher.
USD/JPY...108 .05 (92.59 Futures) is dollar support Yen resistance today.
Commodities...
OIL...91.46 starts resistance. Once above, 92.60-80 is a spot to sell the oil with a tight stop.
Gold...1228 is short term resistance.
Silver... is oversold. Above 17.815 there is room to rally to 18.20.
General Comments or Valuable Insight
The trade is lined up for Equity profit taking and short term Bond strength on both sides of the Pond.
It's going to be the match game today. We've come down to Spu First Point & Figure support and 30 Yr. Bond resistance.
Spu's...will need price recovery over yesterday's low of 1983, and stay above 1983, for a rally to form up.
Sustaning over 4057 is the Nasd 100 futures will run out the shorts.
Oil,Euro,Yen & Aussie can stop right in here and all reverse with a low in the Indices or they all keep going. It's a big inflection area for many instruments.
If we're doing a big swing in the Spu's we'll see 1958 for a first downside objective and the 3970's in the Nasd 100.
We'll let the market tell us if this is a big bear trap or there is more to go.
Yesterday was a classic opening range trade in the New York session. Pay attention to your time frames today. The early trade out of New york will set the tone for the first couple of hours today.
Time Frame Trading today.?
For Medium Term Outlook click here.
?For Glossary of terms and abbreviations click here.