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
Long? JJG??????????????????????? ??????????????????? 37.00 ? ? ? ? ?? 36.80? ? ? ??????????? 42.50
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Today's Working Orders
BUY EUR/JPY @ 141.25 GTC
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Stocks...
DAX...91.60 is this weeks support and the downside closing momentum level.
Sustained price action and a close above 93.65 should be considered an upside break out.
Spu's... have a potential double top @ 2020. 1993 is today's low risk buy level and possible Bear trap level.
Nikkei...could retrace to 16,450 and still keep the monthly ORH pattern intact.
The resting buy stops are @ 18,365 with a tgt just shy of 20,000 for this initial move.
TSLA...resistance starts @ 251.50.
Bonds ...
30 Yr. Futures... Price action over 142.10 resistance is needed for higher.
Closes under 140.00, as seen on the monthly chart, is needed for higher rates.
BUND...151.83 should be monitored for a potential head & shoulder formation.
Having said that, there is no upside to German rates until you see closes under 150.00
FX...
Euro...126.05 is today's first resistance. Spending any amount of time over that level could force out the weak shorts and run to 127.50 +- a few.
AUD/USD...86.58 is the level to key off of for the next move. Aussie has to get back above this level and stay there to not see a lower currency.
85.50 is major Fib support. Aussie should struggle to get through this zone the first time down.
EUR/JPY...145.69 is the December 2013 high in this cross. if Mario fails to deliver you could see this level today.
Commodities...
Natgas....3.73 is support and the closing downside pivot for the rest of the year.
4.33 is the 200 DMA resistance level.
This is a big exit zone for longs. Bears can use the level to try a contra trend trade to see what develops.
Brent...82.50 is measured Fib support, 50% of the past 6 years. I have lower targets.
Sell rallies against 84.50, which will also act as the upside pivot.
Weekly resistance starts @ 85.96 -86.25 with resting buy stops above.
WTI...the same matching level in crude comes in around 73.50. The next set of qtrly stops lie @ 74.95.
Weak shorts start to cover above 79.50. Above 80 look for the moves in 1 dollar increments.
General Comments or Valuable Insight
DAX will be in focus today into tomorrow with the ECB meeting Thursday.
6:45 CDT is the Monetary Policy Decision
7:30 CDT is the Press Conference.
This will be a market moving event.
Spu's...2020 + a couple will be the level in focus for the U.S. markets.
I'm not interested in high risk trades. Direction should be sorted out by the NYSE open.
If Mario pulls a rabbit out of his hat the markets explode higher.
A disappointing Q & A and it will be about where a sell off in equities holds.
For the U.S. Equity markets you could have two very distinct capital flows today.
Meaning if you get a sell off early, the U.S. could shrug off the early weakness in the afternoon session.
You'll need to be very aware of your time frames & capital flows if you're trading today.
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.