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.
Markets are following the same script on a daily basis with selling of Equities into London's close.
DAX...9386 is weekly support.
Nikkei & Midcap...are working on ORL weeks.
15,390 is the Nikkei #
132370 is the Midcap #
GOOG...had a minor pressure release to the 18 day @ 1132
CAT...85.40 is the 200 day mvg avg and support. Getting to this level, Cat will be a very oversold and due for a bounce.
VIX...has come too far @ 16.89 right into weekly resistance with a potential Monthly double top.
The last time we were up here was the break in Equities 12/16/14 on the Fed meeting taper announcement.
I'm tempted to buy EWW but I just don't have the stomach for it today.
The Bond Futures are not running higher.
By days end it will likely be evident that I wet my pants and am in need of a Costco run for a set of double bagged depends.
The afternoon trade can be a total opposite from the A.M.
Time Frame Trading the rest of the day.
For Glossary of terms and abbreviations click here.