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
No Positions
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Today's Working Orders
No working orders
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Stocks...
DAX...today's resistance is 9378. Sustained action above should lead to a test of the 200 DMA @ 9500.
DXJ...put in an ORH day on Abe new stimulus plan. 50.35-66 is short term resistance. Closing over this level tomorrow starts a new Bull leg up.
Bonds ...
Bunds...149.88 is support and the downside pivot.
Gilts...11202 is support and the downside pivot
FX...
AUD/USD...92.38 looks to be good support. On the weekly charts, which is the bottom of the recent range this month.
AUD/JPY...is the cross that bears watching. The low was put in Aug 8th @ the 200 DMA the same time the S&P 500 bottomed.
96.53 is the Monthly ORH#. A monthly close over this level should see this being a top performing cross over the 4th qtr.
This should track with a risk on board.
Commodities...
Gold...has a potential double bottom on the longer term Point & Figure at last night's low, however failure to claw back above it's 200 DMA is not positive.
Crude...sell any rally to 95.00 with a tight stop.
Natgas...is trying to bottom the general parameters are 3.73 support.
3.91 is the momentum area with 4.11-16 resistance.
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General Comments or Valuable Insight
I would expect today to be another grind with traders awaiting Jackson Hole statements tomorrow.
For Medium Term Outlook click here.
?For Glossary of terms and abbreviations click here.
