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.
DAX & Euro Stoxx have the most abysmal chart patterns with ORL's.
SAP...needs to hold 74.15 on a closing basis to help out Europe. As of now it's showing a 6 day Island top. A 75.47 print is needed over the next couple of sessions to negate the pattern.
GS isn't faring much better with names like Northern Trust giving up early gains off the raising rate environment.
CAT... has a potential topping pattern.
Energy names have been thrashed with the broader Indices.
DIG...needs to hold mvg avg support @ 56.20 and see price action above 57.70 tomorrow for the uptrend to remain intact. This is also attempting an ORL day.
We've seen these patterns over the past few months in many instruments only to reverse the next day.
The only observation I have is that I'm surprised the VIX didn't rally more.
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