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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!
| _____________________________________________________________________ Friday, November 17th Leading Indicators 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: *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: *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: Trade with Knowledge! Burr Jennings
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Friday, November 17th Housing Starts 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 gap up at the open yielded a narrow range day that although closed positive, could not close above Wednesdays high suggesting the inevitable pullback is at hand. The S&P has traded 2 consecutive sessions without trading at the Pivot or the upper .214 and 4 consecutive sessions without negative momentum on the daily bars. Expect a pullback in the S&P that at least hits 1401.75 and potentially tests the old 2006 high of 1395.25. As suggested in yesterdays DATA Morning Call, I am not a fan of the buy side at the current 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 session 108 145/320 = 108 14.5/32 or 108 29/64 depending on your charting software
10 Year Note: Notes rallied above Wednesdays high off the CPI numbers only to be sold hard creating an outside day. Today I will focus on the short side as long as trading with resistance below the confluence of the lower .382 and the Pivot as highlighted above with 107 10/32 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: Strength at the open on Thursday initially suggested a rally in Oil only to fade below our bullish line in the sand breaking the low of the week, the low of the year and closing at a new 2006 low which posted an outside day. Oil is significantly oversold at the current close and is likely a good buy off a gap down below yesterdays low at today's open. I will work the buy side as long as trading above the open. If Oil continues to fall - just let it go! Now is not the time to be considering the short side in Oil. Volume rolled to the January contract yesterday, hence the higher numbers in the Fib Grid and Pivot Points above. Trade with Knowledge! Burr Jennings
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Thursday, November 16th C.P.I. and Jobless 8:30am, I.P.C.U. 9:15am, Nat. Gas Inventory 10:30am and Philly Fed Noon 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: Weakness at the open was bought to new 2006 highs on Wednesday dampened only by the FOMC minutes released at 2pm ET. Today we have CPI at 8:30am ET which will likely dictate market action the balance of the day. A gap up at the open that is above yesterdays high and I will be working the short side as long as trading below the open. Weakness at the open that is bought to above yesterdays high but cannot maintain above 1405.75 should be sold short as well looking for negative momentum on the daily bars minimum. I am not a fan of the buy side at the current 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 session 108 145/320 = 108 14.5/32 or 108 29/64 depending on your charting software
10 Year Note: Notes fell out of bed as the economy heated up off yesterdays 8:30am ET economic announcements boosting the Dow to an all-time high and punishing Notes near the low of the Fib Grid. Today it is likely that Notes continue to falter but CPI at 8:30am ET will likely dictate directional bias for the day. Trading below the confluence of the lower .214 and the Pivot and the short side is favored with last weeks low of 107 10/32 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: Oil rallied above Mondays high yesterday but had significant difficulty staying there as the low of the day was broken in the afternoon. Today we have loose confluence at yesterdays close 58.80, the upper .382 and the Pivot - basically 58.80 to 58.90. This area should offer a good line in the sand to trade against today. With positive momentum on the daily bars I will be looking to buy oil off support that is at or above this area with a gap fill to last Fridays close of 59.70 as my minimum profit target. I am not a big fan of the short side here but a break of yesterdays low of 58.450 and we could see a break of Tuesdays low at 58.150 and ultimately the low of the year at 57.125 Trade with Knowledge! Burr Jennings
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Wednesday, November 15th N.Y. Empire State Index 8:30am, Oil Inventory 10:30am and FOMC Minutes 2;00pm 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 up at the open was initially sold below confluence with all bets off to the buy side. High relative strength returned in the afternoon as confluence became support and my ultimate profit target of a new 2006 high was easily exceeded. Today we are in scalp mode in the S&P. Pullbacks that maintain support above the Pivot should be bought with an ultimate profit target of yesterdays high. A gap up at the open that is above yesterdays high of 1399.25 and I will pursue the short side 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: Notes rebounded sharply off the 8:30am ET economic announcements on Tuesday easily breaking the high of the week and challenging my ultimate profit target of last months high of 108 24/32. Today I will continue to pursue the buy side as long as Motes trade with support above the confluence of the upper .382 and the Pivot with 108 24/32 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: Oil tried, but could not muster a rally to break Mondays high closing poorly on the day yesterday. With Mondays gap still open I will continue to pursue the buy side in Oil today off a gap down below yesterdays low that maintains support above the open or if Oil can trade with support above the lower .214 of 58.825 with a gap fill to Fridays close of 59.70 as my minimum profit target. We have Oil Inventory at 10:30am ET which should shake things up a bit. Trade with Knowledge! Burr Jennings
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Tuesday, November 14th PPI and Retail Sales 8:30am, Business Inventories 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: As suggested in yesterdays DATA Morning Call, the S&P rallied above last Fridays high and maintained high relative strength the entire day. Today I will continue to pursue the buy side in the S&P as long as trading with support above the near perfect confluence of the upper .382 and the Pivot with the same profit targets as yesterday. Pre-market economic announcements will likely pump up the volatility today. I do not have any interest in the short side 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 session 108 145/320 = 108 14.5/32 or 108 29/64 depending on your charting software
10 Year Note: Notes bumped up against last weeks high and retreated below Fridays low before closing reasonably well on the day. Today we have significant confluence as the Pivot shares yesterdays close and is smack between the upper and lower .382 of our new Fib Grid. Given yesterdays ability to rebound smartly I will focus today on the buy side in Notes above the Pivot of 108 05.0/32. Trading with resistance below108 05.0/32 and short selling will be favored.
*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 and some slippery trading in the last 30 minutes yesterday suggests lower prices today but the gap down is likely to fill therefore I will only pursue the buy side today in Oil. A gap down at the open that is below yesterdays low of 58.25 and I will be pursuing the buy side aggressively as long as trading above the open. Trading above the lower .214 of 58.900 with support and I will pursue the buy side as well with Fridays close of 59.70 as my minimum profit target and last weeks high of 61.325 as my ultimate target. Trade with Knowledge! Burr Jennings
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Monday, November 13th No Significant Economic Announcements 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: Weakness at the open on Friday led to a break of Thursdays and ultimate Wednesdays low where as suggested in the DATA chat room support led to a close at the high of the day. Given Fridays strong close, it is reasonable to assume we see higher prices today in the S&P. If trading above Fridays high of 1385.50 I will be working the buy side as long as trading with support above today's Pivot with 1395.25 as my ultimate profit target. Once again, we have a day without any significant economic announcements but Tuesday has plenty so expect the more significant movement to be during the afternoon 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 continued to check out to the upside as an 80% retracement to last weeks high suggest Notes visit 108 19.5/32 or higher this week. That said we have 5 consecutive higher closes and 4 consecutive positive momentum days suggesting further ascent will likely be a struggle. If getting long Notes today, price must maintain support above the confluence of the upper .214 and S1 with 108 19.5/32 as my minimum target and 108 24.5/32 as my ultimate 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
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