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.
The rallies are failing in the U.S. Indices, while the breaks have been holding in Mexico ,Brazil,China Australia & Germany.
Bounces have come off the identified oversold areas in the Momentum names.
Support & resistance in the U.S. Equity Indices have remained almost 100% correlated to support & resistance in the VIX & UVXY.
VIX & UVXY...closing over today's highs give higher tgt's.
AAPL...by remaining under 526 this remains under pressure.
MVV...closing under 63.80 is price negative.
DAX & EWG...have both held major support and their qtrly macro pivot areas.
EWW...EWZ...FXI are still finding new positive money flows coming out of U.S. names into these indices.
These patterns are still positive.
Time frame trading the rest of the day.
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.
