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.
IWM,MVV,DIG,XLE,BMY & Nikkei are all attempting daily ORH patterns.
SLB led the energy names early.
XOM...is looking firm. A close over 93.30 is needed to confirm a tradable low.
Line...needs a close over 10.30 to confirm the 9 low.
IBM...failed at the 50 DMA.
There is a lot of bottom fishing going on in small and mid-cap names.
It looks like the GREXIT has been discounted and it's party on for Pharma going into month end (Friday).
The board is still Long DAX & SHCOMP / underweight the rest of the world.
EXAS...acts great. This is putting in a sideways pattern and looks to go higher into month end as long as there is no close below 61.00.
It's a long day. Be patient and wait for your technical levels to trade.?
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.
