September 29, 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 2 EURO ? ? ? ? ? ? ? ? ? ? ? ? 128.76 ??????? 122..00
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Today's Working Orders
No working orders
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Stocks...
IWM...ran the monthly ORL stops below 109.86. Sustained price action and a close below this level opens the door to 107.44 ( the qtrly ORL #).
Spu's...1958.50 filled my downside objective for this move. Price action and a close over 1979 is price positive. Spu's keep failing at the 50 DMA. Closes above the 50 DMA is needed to attract new buying.
Price action and a couple of closes under 1954 is needed for a dump to the 1890's and a retest of the 200 DMA.
Nasd 100... 3978-80 is the weekly hold #. Yesterday's low was a test of the 50 DMA.
4065 is near term resistance and the closing upside pivot.
Midcap 400...137462 is the 200 DMA. We'd need to see sustained price action and a close above this level for selling to abate.
IWM...Russell needs to maintain over 109 close to avoid a deeper correction.
ASX 200...is attempting an ORL Month. Price action above5335 is needed to negate this pattern.
F...price action and a close under 16 is can see Ford breaking close to 5%.
Bonds ...
30 yr. Bonds...price action over 138.05 projects a full point higher.
Bunds...need to close over 149.31 ( 50 DMA resistance ) for higher. 149.73-77 is the next daily & weekly resistance level. The eventual target for the Bund is a retest close to 151.00.
FX...
EURO...sustained price action over 127.40 is needed for a short covering rally.
AUD/USD...macro sell stops are @ 86.58, this years low made in January. I would expect to see this level tested in the near term.
Commodities...
OIL... 92.63 is support and the downside pivot for another dollar..
Brent...96.60 will be pivotal. This is neutral. Above it remains firm/below it can break a dollar.
Gold...1240.50 is closing qtrly resistance.
General Comments or Valuable Insight
Investors worldwide are still adjusting their portfolios going into tomorrow's qtr end.
Trade instruments off their own technical s. Today will likely be another opening range trade.
SPU/BONDS will be the trade today. This is currently flirting with it's 50 DMA.
Investors worldwide are hiding in the U.S. markets, whether it be bonds or specific names.?
For Medium Term Outlook click here.
?For Glossary of terms and abbreviations click here.