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DATA Morning Call
Empowering active trading and investment through proper technical analysis.
DATA Morning Call is a subscription based daily service that is entirely focused on E-MINI futures trading and supports 3 trading vehicles to choose from with varying degrees of volatility and risk. By far the least volatile are the 10-year Notes and the most volatile is Crude Oil. DATA Morning Call reveals exactly where we will be buying or shorting and exactly where we will be booking profits. By focusing on learning how to contain or mitigate risk it is possible to trade higher volatility products that tend to have a higher degree of reward. This can be learned and it is the mission of the Direct Access Trading Academy to teach you to be a low risk/high return trader that specializes in one particular product and masters that product before trading any additional product. Click on education to learn more.
A proficient trader with a cash account may be able to average a 1% profit per week or better. Properly margined futures accounts may experience even greater returns. All this with the added safety of trading an index! To learn more join us in the DATA chat room by clicking on real-time chat or call us any time at 941-364-3600.
Trade with Knowledge! -Burr Jennings
* Please read the disclaimer at the bottom of this page!
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_____________________________________________________________________ Friday, September 1st Employment 8:30, Consumer Sentiment 9:45, ISM - MFG and Construction Spending 10:00, Early Bond Close 2pm ET Today *Check this weeks economic calendar by clicking on: www.econoday.com eSignal Futures Symbols: ES U6 (S&P500), ZN Z6 (10 Year Note) and QM V6 (Crude Oil)
*Chart http://datacademy.com/members/images/ above represents the Fib Grid and Pivot (short red line) from yesterdays market The Fib Grid and Pivot Points below represent TODAY'S session
S&P 500: A tight range inside day offered little for bulls or bears yesterday in the S&P. Today's Employment Report should rock the market and with positive momentum on the daily bars I will look for the confluence of the upper .214 and the Pivot as my line in the sand to buy against with potential profit targets well above the high of the week. A significant gap up at the open and I will be aggressively pursuing the short side in the S&P as long as trading below the open. With yesterdays narrow range an outside day is likely today.
*Chart above represents the Fib Grid and Pivot (short red line) from yesterdays market The Fib Grid and Pivot Points below represent TODAY'S session 108 145/320 = 108 14.5/32 or 108 29/64 depending on your charting software
10 Year Note: Notes took off on a small gap up and just kept going higher on Thursday without more than a tick or two pullback. Quite unusual given the overbought condition of Notes at this time. I remain dedicated to short selling should Notes gap up at the open with negative momentum and a gap fill as my minimum profit target. Notes have rolled to the December contract ZN Z6.
*Chart above represents the Fib Grid and Pivot (short red line) from YESTERDAYS market The Fib Grid and Pivot Points below represent TODAY'S market
Crude Oil: As suggested in DATA MC, Oil held bullish levels and advanced to well above Tuesdays and Wednesdays highs yesterday. I will look for this bullish price action to continue today trading with support above the confluence of the lower .214 and the Pivot as highlighted above with last Fridays close of 72.475 as my minimum profit target and last weeks high of 73.750 as my ultimate profit target. Natural Gas has broken below $6 and should be a strong buy down here. Look for a hi probability setup such as breaking below the previous day slow at the open and then buying as long as above the open as an entry strategy. Now - HOLD that trade! We still have 2 months of hurricane season and the last threat was good for almost $8. Imagine if a storm actually enters the Gulf of Mexico. Trade with Knowledge! Burr Jennings ____________________________________________________________________
Thursday, August 31st Jobless and Personal Income 8:30am, Factory Orders 10:00am, Nat. Gas Inventory 10:30am ET Today *Check this weeks economic calendar by clicking on: www.econoday.com eSignal Futures Symbols: ES U6 (S&P500), ZN U6 (10 Year Note) and QM V6 (Crude Oil)
*Chart above represents the Fib Grid and Pivot (short red line) from yesterdays market The Fib Grid and Pivot Points below represent TODAY'S session
S&P 500: As suggested in DATA Morning Call, support at confluence led to a new August high with attempts in the afternoon to do the same that were defeated. Air is thin up here for the S&P and yesterdays narrow price action with each new high sold in to confirms this. With additional economic announcements today and the all-important Employment Report tomorrow things should get bumpy in both equities and treasuries. Price action tends to have a bullish bias in front of Employment and the S&P is trading with positive momentum and high relative strength as of yesterdays close. Trading above the loose confluence of the upper .214 and the Pivot and I will continue to pursue the buy side in the S&P with yesterdays high of 1308.75 as my minimum profit target offering a potentially small risk/reward ratio that should only be attractive to scalpers. For more about scalping click HERE. Similar to yesterdays plan, a gap up above yesterdays high at the open and I will pursue nothing but the short side as long as trading below the open with a gap fill and negative momentum on the daily bars as my minimum profit target.
*Chart above represents the Fib Grid and Pivot (short red line) from yesterdays market The Fib Grid and Pivot Points below represent TODAY'S session 108 145/320 = 108 14.5/32 or 108 29/64 depending on your charting software
10 Year Note: As suggested in yesterdays DATA Morning Call, Notes clawed higher on Wednesday to post a new August high in tandem with the S&P. A gap up at the open and I will pursue the short side in Notes as long as trading below the open with a gap fill and negative momentum on the daily bars as my minimum profit target. I am not at all interested in the buy side in Notes at this time. With additional economic announcements today and the all-important Employment Report tomorrow things should get bumpy in both equities and treasuries.
*Chart above represents the Fib Grid and Pivot (short red line) from YESTERDAYS market The Fib Grid and Pivot Points below represent TODAY'S market
Crude Oil: A hard break lower on Wednesday was met with vigorous buying in the afternoon as Oil found its point of capitulation for buyers and short sellers closing at high tick of the day. I will look for this bullish price action to continue today and tomorrow as long as trading with support above the loose confluence of the lower .214 and the Pivot as highlighted above with last Fridays close of 72.475 as my minimum profit target and last weeks high of 73.750 as my ultimate profit target. Trade with Knowledge! Burr Jennings ____________________________________________________________________
Wednesday, August 30th ADP 8:15am, GDP 8:30am, Oil Inventory 10:30am and 5-Year Note Auction 1:00pm ET Today *Check this weeks economic calendar by clicking on: www.econoday.com eSignal Futures Symbols: ES U6 (S&P500), ZN U6 (10 Year Note) and QM V6 (Crude Oil)
*Chart above represents the Fib Grid and Pivot (short red line) from yesterdays market The Fib Grid and Pivot Points below represent TODAY'S session
S&P 500: As suggested in yesterdays DATA Morning Call FOMC minutes cast bullish volatility in to both the S&P and Notes forcing bears back in to hibernation as support at the Pivot led to a double top of this weeks high creating an inside day by only 1 tick. Today it is likely that bullish sentiment will continue yet pre-market economic announcements may suggest otherwise. Trading with support above the loose confluence of the upper .214 and the Pivot and I will continue to work the buy side in the S&P with 1308.00 as my minimum profit target. A significant gap up at the open well above this weeks high of 1307.50 and I will be aggressively pursuing the short side only as long as trading below the open with a gap fill and negative momentum on the daily bars as my minimum profit target.
*Chart above represents the Fib Grid and Pivot (short red line) from yesterdays market The Fib Grid and Pivot Points below represent TODAY'S session 108 145/320 = 108 14.5/32 or 108 29/64 depending on your charting software
10 Year Note: As suggested in DATA Morning Call, Notes continued to fall out of bed on Tuesday easily surpassing my minimum profit target as well as a stated ultimate target in the DATA chat room of 106 19/32. FOMC minutes brought back the Bull in the afternoon as a double top with Mondays high closed Notes near the high of the day. Given yesterdays price action I will pursue the buy side in Notes today as long as trading above the loose confluence of the upper .382 and the Pivot as highlighted above with the August high of 107 3.5/32 as my ultimate profit target.
*Chart above represents the Fib Grid and Pivot (short red line) from YESTERDAYS market The Fib Grid and Pivot Points below represent TODAY'S market
Crude Oil: Another gap down on Tuesday continued to suggest buying Oil as suggested in the DATA chat room. A close at the same price as the open left traders wondering why and I will again tell you why. Historically, 100% of these gaps down have filled over the last 8 years. That said, my trading plan remains the same today as yesterday. I will continue to pursue the buy side in Oil today with Fridays close of 72.475 as my minimum profit target and last weeks high of 73.750 as my ultimate profit target. We have Oil Inventory today at 10:30am ET. Trade with Knowledge! Burr Jennings ____________________________________________________________________ Tuesday, August 29th Consumer Confidence 10:00am, FOMC Minutes 2:00pm ET Today *Check this weeks economic calendar by clicking on: www.econoday.com eSignal Futures Symbols: ES U6 (S&P500), ZN U6 (10 Year Note) and QM V6 (Crude Oil)
*Chart above represents the Fib Grid and Pivot (short red line) from yesterdays market The Fib Grid and Pivot Points below represent TODAY'S session
S&P 500: The S&P shot out of a cannon right from the open with Fridays high as well as last weeks high easily broken as the August high was missed by only 1 tick. A coupled market maintained high relative strength right to the close suggesting higher prices today. Do not under estimate the capacity for FOMC minutes at 2pm ET today to throw extreme volatility in to the afternoon trading. Bias is clearly bullish right now and trading with support above the confluence of the upper .382 and the Pivot and the buy side is favored with 1308.00 as my minimum profit target. Yesterdays morning price action was actually stronger and with more positive breadth than any day from the move up two weeks ago. Given the current price action, a new 2006 high in the S&P is not out of the question.
*Chart above represents the Fib Grid and Pivot (short red line) from yesterdays market The Fib Grid and Pivot Points below represent TODAY'S session 108 145/320 = 108 14.5/32 or 108 29/64 depending on your charting software
10 Year Note: A small gap down at the open was held down against the Pivot as Notes closed at the middle of the day. With only a tick of negative momentum on the daily bars I will pursue the short side in Notes today below the confluence of the lower .382 and the Pivot as highlighted above with last weeks low of 106 23/32 as my minimum profit target.
*Chart above represents the Fib Grid and Pivot (short red line) from YESTERDAYS market The Fib Grid and Pivot Points below represent TODAY'S market
Crude Oil: A significant gap down at the open on Monday led to continued selling that broke well below the August low affording a buying opportunity that I will continue to pursue today with Fridays close of 72.475 as my minimum profit target and last weeks high of 73.750 as my ultimate profit target. The probabilty of this gap filling over the last 8 years has been 100%. Trade with Knowledge! Burr Jennings ____________________________________________________________________
Monday, August 28th No Significant Economic Announcements Today *Check this weeks economic calendar by clicking on: www.econoday.com eSignal Futures Symbols: ES U6 (S&P500), ZN U6 (10 Year Note) and QM V6 (Crude Oil)
*Chart above represents the Fib Grid and Pivot (short red line) from yesterdays market The Fib Grid and Pivot Points below represent TODAY'S session
S&P 500: Positive momentum on the 210 minute and daily bars on Friday was met with mild selling at the upper .382 that continued to maintain inside last Wednesdays range which once again leaves us with the same Fib Grid and trading plan. Last week was a relatively narrow range inside week that has built a pennant as can be seen in the chart above. There are no economic announcements to help break out of the current narrowing range today with FOMC minutes at 2:00pm ET on Tuesday our first shot of volatility served up by an announcement. Today we have a brick wall of confluence at Fridays close, the lower .382 and the Pivot below which I will be shorting the S&P as long as resistance is intact. I am still looking for the close on 8/15 at 1287.75 as my minimum profit target with the low of August at 1264.75 a distinct possibility in the days and weeks to come.
*Chart above represents the Fib Grid and Pivot (short red line) from yesterdays market The Fib Grid and Pivot Points below represent TODAY'S session 108 145/320 = 108 14.5/32 or 108 29/64 depending on your charting software
10 Year Note: Notes wiggled and jiggled an outside day on Friday posting a 1 tick new high on the week after the previous days narrow range inside day. The air is getting thin for Notes above 107 and they are clearly due to relax. A gap up above last weeks high and I will be aggressively shorting Notes as long as trading below the open with last weeks low of 106 23/32 as my minimum profit target. Confluence as highlighted above may also put a ceiling on Notes today should weakness exist at the open. I am not at all interested in the buy side in Notes at this time.
*Chart above represents the Fib Grid and Pivot (short red line) from YESTERDAYS market The Fib Grid and Pivot Points below represent TODAY'S market
Crude Oil: A significant gap up at the open broke the high of the week yet after the first 30 minutes spent the balance of the day selling-off in to the close. Tropical Storm and sometimes hurricane Ernesto will be adding/subtracting volatility in both Oil and Natural Gas this week as the path over the weekend has now veered from the middle of the Gulf of Mexico pretty much to the front door at my house. A great link to monitor hurricane season is: http://www.nhc.noaa.gov/ which offers regular storm updates and advisories. I am still committed to pursuing the buy side in Oil and with $1.50 down from Fridays close pre-market I will pursue the buy side as long as trading above today's open. Below today's open and I will let Oil fall with no intention of working the buy side until trading below the August low of 70.90 with Fridays close of 72.475 as my minimum profit target and last weeks high of 73.750 as my ultimate profit target with an identical plan structurally in Natural Gas. I have caught a number of traders that are participating in both Oil and Natural Gas at the same time. This is a serious and potentially costly mistake unless you are a certified pro. As always, pick one or the other and master it with small size before considering adding size or an additional product. To learn how to become a "certified pro" call me at 941-364-3600 and I will help you. Trade with Knowledge! Burr Jennings ____________________________________________________________________ D i s c l a i m e r It should not be assumed that the methods, techniques, or indicators presented in DATA Morning Call will be profitable or that they will not or cannot result in losses. Past results are not necessarily indicative of future results. DATA Morning Call is not a solicitation for the purchase or sale of securities, options or futures and is offered as an educational resource only.
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