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.
SPY... Near term trend support is 197.40 matching the Futures @ 1868-70.
I was looking for the Nasd to probe as low as 3933.
IWM...spiked it's 200 DMA @ 113.52. Price recovery and a close over 114.50 would signal the low is in.
I would say the low is in for the rest of the day.
For Medium Term Outlook click here.
?For Glossary of terms and abbreviations click here.
