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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, November 3rd Employment 8:30am, ISM Non-Manufacturing Survey 10:00am ET Today *Check this weeks economic calendar by clicking on: www.econoday.com eSignal Futures Symbols: ES Z6 (S&P500), ZN Z6 (10 Year Note) and QM Z6 (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: A gap down at the open suggested buying above the open in the S&P yesterday. Resistance at Wednesdays close and support at yesterdays open kept the S&P range bound most of the day as larger players were reluctant to place bets in either direction in front of today's 8:30am ET Employment Report. A gap down at the open that is below yesterdays low and I will be working the buy side in the S&P. Strength at the open that maintains above yesterday high of 1373.75 and I will be working the buy side as well. In either case I am looking for positive momentum on the daily bars as my minimum profit target. With 5 consecutive days of negative momentum on the daily bars I am no longer interested in the short side in the S&P.
*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 pulled in on Thursday creating an inside day therefore leaving us with the same Fib Grid today. I am still looking for negative momentum on the daily bars at 108 2.5/32 as a minimum profit target from our 108 19/32 shorts put on Wednesday. If support exists at the upper .214 of 108 5.5/32 look to go long with 108 24/32 as an 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: A gap down in Oil yesterdays found support at the lower .214 and resistance at the upper .214 closing poorly suggesting lower prices today. Below the loose confluence of the lower .382 and the Pivot and Oil is a short for a new low on the week at $57.00 whereupon I will be looking for any good reason to buy Oil as new weekly lows continue to be bought for $1.50 to $3.00 pop's. Trade with Knowledge! Burr Jennings __________________________________________________________________
Thursday, November 2nd Jobless and Productivity 8:30am, Factory Orders 10:00am, Nat Gas Inventory 10:30 ET Today *Check this weeks economic calendar by clicking on: www.econoday.com eSignal Futures Symbols: ES Z6 (S&P500), ZN Z6 (10 Year Note) and QM Z6 (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: Strength at the open was again faded yesterday in the S&P to well below the low of the week and within 3 ticks of last weeks low. As suggested in previous DATA Morning Call it has been almost 3 months since the S&P has posted negative momentum on the daily bars and it is coming! With perfect confluence at the lower .382, the Pivot and Tuesdays low, it is likely that resistance today will lead us to last weeks low of 1370.00 whereupon it is also likely that we find buyers.
*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 once again raced to new highs on the week yesterday and as suggested in the DATA chat room I began establishing a short position just above R2 with the idea that Notes have now rallied 2 handles without a .214 pullback or negative momentum on the daily bars. In either case I will be covering my short Notes and looking to go long with the September high of 108 24/32 as my ultimate profit target which may be met as soon as tomorrow when the monthly Employment Report is released at 8:30am ET.
*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: Oil was a bit slippery on Wednesday as the Inventory report sent prices gyrating with support at Tuesdays open and a close a tick or two below the previous close. Oil suggests higher prices today and given that we have a gap to last Friday close to fill I will be working the buy side today as long as trading above the near perfect confluence of yesterdays close, the upper .382 and the Pivot with 60.725 as my minimum profit target. Trade with Knowledge! Burr Jennings __________________________________________________________________
Wednesday, November 1st ADP 8:15am, Construction Spending and ISM-Manufacturing 10:00am, Oil Inventory 10:30 ET Today *Check this weeks economic calendar by clicking on: www.econoday.com eSignal Futures Symbols: ES Z6 (S&P500), ZN Z6 (10 Year Note) and QM Z6 (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: Strength at the open was faded to a new low on the week yesterday whereupon buyers entered the market closing the S&P at Mondays close. With 3 consecutive negative momentum days in what is a certifiable bull market I will be looking for buy opportunities today. Yesterdays outside day gives us a new Fib Grid today that has confluence with the upper .382 and yesterdays close as well as the Pivot that is a mere 3 ticks away. I will pursue the buys side as long as trading above this level with last weeks high of 1395.25 as my ultimate target. A gap down at the open that is below yesterdays low and I will be pursuing the buy side aggressively as long as trading above the open.
*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 found support at Mondays close and the Pivot yesterday and checked out once again to the upside. Notes are crazy over bought at these levels and the short side is in favor should a gap up above yesterdays high exist at the open or if yesterdays high is broken and then becomes resistance use that as your line in the sand to short against. I am not interested in the buy side in Notes at these levels.
*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 gap down at the open yesterday that broke in to new 52 week lows signaled a high probability buy opportunity. 30 minutes of strength turned to a morning of weakness that found support at $57 before shooting through the high of the day and closing well above Mondays close. Today my expectation is that yesterdays strength will continue as long as trading above the Pivot which was Mondays low or the Lower .214 which shares that level near last weeks low. In either case, that "area" should offer considerable support today and if not - all bets off to the buy side. Look for Fridays close of 60.725 as your minimum profit target. Oil Inventory at 10:30am ET will through some volatility in to the mix. Trade with Knowledge! Burr Jennings __________________________________________________________________
Tuesday, October 31st ECI 8:30am, Consumer Confidence and NAPM-Chicago 10:00am ET Today *Check this weeks economic calendar by clicking on: www.econoday.com eSignal Futures Symbols: ES Z6 (S&P500), ZN Z6 (10 Year Note) and QM Z6 (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: A lower open yesterday influenced a rally up thru confluence where resistance brought the S&P back to the middle of the day. Today we have confluence at the Pivot and yesterdays close with the lower .214 just a few ticks below. ECI at 8:30am may rock the markets and if trading below confluence work the short side or hit the sidelines for the next buy opportunity. Trading above yesterdays high of 1387.00 and I will work the buy side as long as support is maintained above confluence with the 10/26 high 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 session 108 145/320 = 108 14.5/32 or 108 29/64 depending on your charting software
10 Year Note: Notes gapped up and pulled in below the open but could not get a .214 retracement to last weeks low. Today I am still looking for Notes to relax to at least 107 19.5/32 before potentially moving higher. A gap up at the open that is above 107 28.5/32 and I will be shorting aggressively as long as trading below the open.
*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: Oil fell out of bed on Monday giving up most of last weeks gains very quickly. Oil is oversold here and is likely a good buy candidate should there exist a gap down at the open that is well below yesterdays low. Strength at the open will likely be sold with last weeks low of 58.125 as a likely target. Trade with Knowledge! Burr Jennings __________________________________________________________________
Monday, October 30th Personal Income 8:30am ET Today *Check this weeks economic calendar by clicking on: www.econoday.com eSignal Futures Symbols: ES Z6 (S&P500), ZN Z6 (10 Year Note) and QM Z6 (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: A lower open on Friday suggested buying but as suggested in DATA Morning Call, the S&P was overdue to post negative momentum on the daily bars and in the afternoon that is exactly what we got. Given Fridays weak close and negative momentum on the daily bars I expect lower prices today as long as confluence at the lower .382 and the Pivot highlighted above offer resistance with a minimum target of 1378.00 and an ultimate target of 1369.75 which would post negative momentum on the weekly bars. That said, it is still very much a bull market and if the S&P can defeat the current negative momentum and low relative strength by first trading above confluence expect to see 1395.25 or higher. A significant gap down at the open that is well below Fridays low of 1381.00 and I will be working the buy side in the S&P as long as trading above the open with a gap fill and positive 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: Notes blew through my ultimate profit target with ease on Friday from an advance that has yet to have a .214 retracement since last Wednesdays FOMC announcement. This will likely come today or tomorrow and pullbacks should be bought in Notes this week. This current strength is potentially ominous for equities as the treasury market is beginning to see trouble down the road and the inevitable interest rate reduction as necessary medicine.
*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: Oil broke Thursdays low on Friday where consistent buying existed and within the last 30 minutes Oil broke the high of the day and closed well. This suggests anadvance today that has the potential of breaking last weeks high of 61.675 posting positive momentum on the weekly bars for the first time in over 2 months. Oil must maintain above the confluence of the lower .382 and the Pivot for this assumption to be valid below which all bets to the buy side come off. A gap down at the open that is below Fridays low of 59.925 and I am very interested in trading the buy side as long as trading with support above the open. 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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