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 updates highlighting Entry/Exit (Original Entry update last Chart below)
Published 5/16/16 – 8:52 am – Update of Fill and partial exit
We were filled shortly after the open on our long position @ 2046.00. We are now trading @ 2051.00 just above the 2050 level I noted on the update. This is the zone I highlighted 2050-2054 to begin looking to offset positions or take partial profits. Thoughts are that bears have been looking to take control so this could be a small short squeeze before we go negative again. As a trader, it is your choice on your risk reward levels. The position is working in our favor so you need to decide on how much you want to take off and bank. This is the benefit of being able to trade multiple contracts.
Currently + 5pts or $250 per contract before fees.
Published 5/16/16 – 9:18 am – Recap with Charts
Here is a chart highlighting the Entry and Exit of this morning’s long position. For those who are looking for a longer swing trade, the levels are still in play. Keep your risk at the initial risk level or look to move to break even. Given this tight top/bottom levels and how much volume was put in near those zones, I chose to take profits quickly on the trade. Below you will see the SnapShot Chart w/TAS Tools and the JigSaw Auction Vista highlighting the move.
30 Min MDA SnapShot Chart – dt Pro – ES
JigSaw Auction Vista:
Published 5/16/16 8:27 am – Morning Levels – Highlighting trading zones with Chart
I am back in the office and here are the levels for today’s session. We are seeing very tight bottom/top levels on the 30 min snapshot chart. Look to also, lean on the previous levels that were formed earlier in the overnight session. The last few sessions last week had quite some up and down volatility but we ended up moving back down near that 2030 level that we saw the previous week and completed the head and shoulder setup we were discussing before that. Gold and Crude are both up big this morning. We will see how that impacts the stock market. We are right at the daily bottom level on Market Action Scanner, so a close below that will be a strong bearish confirmation longer term. I think many traders are looking for short plays so we may need to see a small pop higher to get some of them out before we can break into new lows. If we get the long through the buy zone 2050-2056 would be potential exit zones.
MDA SnapShot – 30 Min S&P
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