Below you will see the published updates from the Market Dimensions Advisory showcasing the positions that were executed following the MDA SnapShot levels that were released from today’s session. This content is from the “Trading Updates/Recaps” that go out to MDA Subscribers. If you would like to follow these trading alerts in real-time, receive them in your inbox and have the ability to speak with me, you will need to subscribe to the newsletter and become a client of our firm. To get these updates sent directly to your inbox, please SUBSCRIBE HERE. To see ALL MDA published updates (trading recaps, daily levels, and educational trading material), visit the MDA BLOG PAGE: HERE.
Published 5/5/16 11:41 am central – New Level’s Email
We had the new levels form on the 30 Min SnapShot Chart. The Buy zone is above the recent highs we have seen the past couple hours, and the sell zone is an area where we would be breaking into new lows. To the downside, we still have some high volume to break through 2045-2044. When we tested these recent lows@ 2045.50 we saw a quick 5-6pt rally higher. On this test, we would hope to squeeze out recent longs.
MDA SnapShot 30 Min Chart: Updated levels
Published 5/5/16 12:30 pm central – Fill and Partial Exit
We were filled on the sell zone released on the 2nd level update @ 2046.00. We have moved lower into new lows. We are not getting the sweeping momentum or release of stops as we move lower but we are slowly grinding lower and we just got some larger volume to trade at these levels. @ 2041.00 -2040.50. We have large bids @ 2040.50 if these trade through these prices we could see us test the lows from yesterday @ 2039.
I would look to start looking for potential profit targets if trading multiple positions or begin looking to trail your stop up. If we get some buying pressure we could see these late shorts exit the market.
This trade has all the confirmations in its favor, other indices on lows, oil making lows and bonds higher. Should be a strong swooping move lower but we are not getting that yet so beware.
- Short @ 2046.00
- Last @ 2039.75
- +6.25 or +$312.50 before fees.
I will send out a chart later highlighting the trade.
Published 5/5/16 1:24 pm central – Chart Highlighting 2nd Position
We never know how many levels will form or be hit during the day. So I apologize for the above average amount of emails. However, hopefully for those who are actively following along they liked the moves we took advantage today.
Here is the updated chart showing the Sell Zone and then the partial exit email that went out. As mentioned at the time it just had a feel that it was tough to move lower so partial exit, or full exit depending on your risk felt like the right move. Overall, I do think bears are starting to build some momentum on this time frame as I highlighted on the TAS Navigator. I just like to make sure we grab profits or take risk off of trades so we don’t find our trades turning from a winner to a loser.
We are now seeing NQ and YM moving slightly higher as well as oil back above $44.
30 min SnapShot Chart: Highlighting 2nd Short Position
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