• support@madhedgefundtrader.com
  • Member Login
Mad Hedge Fund Trader
  • Home
  • About
  • Store
  • Luncheons
  • Testimonials
  • Contact Us
  • Click to open the search input field Click to open the search input field Search
  • Menu Menu

September 7, 2016 - MDT Pro Tips A.M.

MDT Alert

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
Total Premium collected - $1.95

ASNA Long at $14.20
Total Premium collected - $.75

ETE Long $14.05
Total Premium collected - $2.29

P Long $13.38
Total premiums collected - $.70

DUST Long $4.50
Total Premium collected - $.70

FCX Long $12.45
Total Premium collected - $.24

..........................................................................................

The S & P 500 managed to close up 6.50 points yesterday, at 2,186.48.? The high for the day was 2,186.57.

But, once again it failed to close above the key 2,187.50 level.

I know you maybe thinking that it is within one point of the objective.? I would rather see a clear violation of a level, than what we have seen for the past two months.

And this is at a time when the NASD market is making new highs.? We know the NASD has been the stronger market.? The question is will the S & P 500 follow suite.

As for identifying the NASD market as the stronger market, we use a very simple method to do that.

We only have to look at the 60 minute chart for both markets.

The S & P 500 is in a downtrend on it's 60 minute chart, while the NASD Composite, as well as the QQQ, are in uptrends.

I mentioned yesterday that 2,175 should be a support level based on last week's weekly price bar.? Yesterday's low was 2,175.10, so expect this level to continue to offer support.

And 2,187.50 remains as resistance until it is violated.

Continue to follow the levels.

Here are the key levels for the markets.

VIX:

Minor level - 17.96
Major level - 15.63 **
Minor level - 14.85
Minor level - 13.28 *
Major level - 12.50 *
Minor level - 11.72
Minor level - 10.15
Major level - 9.38

The VIX closed at 12.02 yesterday, just under the major 12.50 level.

11.72 is the major level to the downside.? The VIX will need two closes under 11.72 to move down to 9.38.

To move higher, the VIX will need two closes above 13.28.? 13.28 should act as resistance.

13.67 should be minor resistance.

S & P 500 Cash Index:?

Major level - 2,250.00
Minor level - 2,234.38
Minor level - 2,203.12 *
Major level - 2,187.50 **
Minor level - 2,171.88 **
Minor level - 2,140.62
Major level - 2,125.00
Minor level - 2,109.38
Minor level - 2,078.12
Major level - 2,062.50

The S & P 500 continues to struggle to clear the 2,187.50 level.

As you know, to move up to 2,250, the S & P 500 will need two closes above 2,203.

On the downside, 2,171.88 is the level for a move down to 2,125.? This should act as a support level.

2,183.60 should also be a minor support level, along with 2,175.

Nasd 100 (QQQ):?

Major level - 121.88
Minor level - 120.31
Minor level - 119.53
Major level - 118.75 *
Minor level - 117.97 *
Minor level - 116.41 *
Major level - 115.63
Minor level - 114.85
Minor level - 113.28
Major level - 112.50

The objective for the QQQ should be to 118.75 and the QQQ is within a point of it.

117.97 should offer support.? And expect minor support at 117.19.

TLT:?

Major level - 143.75
Minor level - 142.96
Minor level - 141.41
Major level - 140.63
Minor level - 139.85
Minor level - 138.28 *
Major level - 137.50
Minor level - 136.72
Major level - 134.38

The TLT continues to bounce between the 140.63 and the 137.50 levels.? Yesterday, the TLT bounced up
and closed at 139.64.

Objective should still be to 140.63.

Minor resistance is at 139.84.? Minor support is at 139.26.

GLD:

Major level - 131.25
Minor level - 130.46
Minor level - 128.91 *
Major level - 128.13 *
Minor level - 127.35 *
Minor level - 125.78
Major level - 125.00
Minor level - 124.22

The GLD took out the 128.13 level, closing at 128.71. It should try and test the 131.25 level.

128.13 should be minor support.? Minor resistance should be at 129.69.

XLE:

Major level - 75.00
Minor level - 74.22
Minor level - 72.66
Major level - 71.88 *
Minor level - 71.10
Minor level - 69.53 *
Major level - 68.75 *
Minor level - 67.96
Minor level - 66.41
Major level - 65.63
Minor level - 64.85

A close today above 69.53 and the objective should be to 71.88.

69.53 should be minor support.? Expect minor resistance at 71.09.

FXY:

Major level: 94.53
Major level: 93.75
Major level: 92.97 **
Major level: 92.19

The FXY reversed and closed at 94.70. It could not close under 92.97, which means to expect support now at 93.75.

A close today above 94.72 and it should test the 95.31 level.

Short term support is at 94.34.

Apple:

Major levels for Apple are 112.50, 106.25, 100, 93.75, and 87.50.

Apple continues to trade just under the 107.81 level.

Two closes above 107.81 and Apple should move up to 112.50.

Apple continues to inch up to an uptrend formation on it's daily chart.? Opportu
nity will exist when that
happens.

Watch list:

Bullish Stocks: NTES, BIDU, DPZ, FB, SWK, PX, ECL, EW, AGU, BABA, DXCM, YUM, WDAY, SINA, ANET

Bearish Stocks:? REGN, BA, ANTM, CELG, GILD, LLY, DDS, BLUE, UA, FOSL, WDR
?
Be sure to check earnings release dates.

Share this entry
  • Share on Facebook
  • Share on X
  • Share on WhatsApp
  • Share on Pinterest
  • Share on LinkedIn
  • Share by Mail
https://madhedgefundtrader.com/wp-content/uploads/2019/05/cropped-mad-hedge-logo-transparent-192x192_f9578834168ba24df3eb53916a12c882.png 0 0 DougD https://madhedgefundtrader.com/wp-content/uploads/2019/05/cropped-mad-hedge-logo-transparent-192x192_f9578834168ba24df3eb53916a12c882.png DougD2016-09-07 09:29:442016-09-07 09:29:44September 7, 2016 - MDT Pro Tips A.M.

tastytrade, Inc. (“tastytrade”) has entered into a Marketing Agreement with Mad Hedge Fund Trader (“Marketing Agent”) whereby tastytrade pays compensation to Marketing Agent to recommend tastytrade’s brokerage services. The existence of this Marketing Agreement should not be deemed as an endorsement or recommendation of Marketing Agent by tastytrade and/or any of its affiliated companies. Neither tastytrade nor any of its affiliated companies is responsible for the privacy practices of Marketing Agent or this website. tastytrade does not warrant the accuracy or content of the products or services offered by Marketing Agent or this website. Marketing Agent is independent and is not an affiliate of tastytrade. 

Legal Disclaimer

There is a very high degree of risk involved in trading. Past results are not indicative of future returns. MadHedgeFundTrader.com and all individuals affiliated with this site assume no responsibilities for your trading and investment results. The indicators, strategies, columns, articles and all other features are for educational purposes only and should not be construed as investment advice. Information for futures trading observations are obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. Your use of the trading observations is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the information. You must assess the risk of any trade with your broker and make your own independent decisions regarding any securities mentioned herein. Affiliates of MadHedgeFundTrader.com may have a position or effect transactions in the securities described herein (or options thereon) and/or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies.

Copyright © 2025. Mad Hedge Fund Trader. All Rights Reserved. support@madhedgefundtrader.com
  • Privacy Policy
  • Disclaimer
  • FAQ
Link to: September 7, 2016 Link to: September 7, 2016 September 7, 2016 Link to: Trade Alert - (AMZN) September 7, 2016 Link to: Trade Alert - (AMZN) September 7, 2016 Trade Alert - (AMZN) September 7, 2016
Scroll to top