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.
All the bears think today into tomorrow is the high for another swan dive.
I'm not in that camp.
The Equity indices will be about how and where they hold on a pullback today into tomorrow, for I doubt you'll see much selling Friday (month end) unless there is some surprise out of the Fed today.
I would need to see a close below 1956 for a near term high (today's ORL#). That occurrence could leave open a move back to the 200 DMA.
Anything into the mid 1950's in the Spu's is a buy before you sell zone.
2002-2020 Spu's is the death zone for new longs the first couple of times up.
Closes over 2020 target another 100 points higher.
Nasd 100...has yet to retest the 2000 high of 4882. Closes over 4120 tgt at least another 200 points higher.
Look for IBB to lead that charge.
ASX 200...5411 is the hold and downside closing pivot level today.
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