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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, December 8th Employment 8:30, Consumer Sentiment 10:00 ET Today *Check this weeks economic calendar by clicking on: www.econoday.com eSignal Futures Symbols: ES H7 (S&P500), ZN H7 (10 Year Note) and QM F7 (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 small gap up and resistance at R2 afforded a nice short in the S&P as defined in DATA Morning Call and in the DATA chat room with a close just off the low of the day. The 8:30am ET Employment report will likely dictate sentiment in the markets today. My expectation is that the S&P will continue to be sold off potentially aggressively back to mondays low of 1412.25 minimum. Strength that maintains below the confluence of the lower .382 and the Pivot should be sold short. I am not interested in the buy side at this time in the S&P. That can change quickly so be in the DATA chat room for the latest developments.
*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 sell as suggested in DATA MC yesterday and after 4 days of lower closes my bias is swaying towards the buy side today. The 8:30am ET Employment report will likely dictate sentiment in the markets today. Look for the confluence of the lower .214 and the Pivot (a powerful combination) to suggest a buying opportunity with the Fib high of 109 21/32 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: As suggested in yesterdays DATA MC, 62.00 offered support and a rally was the net result which I expect to follow thru today with even higher prices that should break above this weeks high of 63.225 minimum and ultimately last weeks high of 63.775 Trade with Knowledge! Burr Jennings _____________________________________________________________________
Thursday, December 7th Jobless 8:30, Nat. Gas Inventory 10:30 ET Today *Check this weeks economic calendar by clicking on: www.econoday.com eSignal Futures Symbols: ES H7 (S&P500), ZN H7 (10 Year Note) and QM F7 (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 rallied to 1 tick above Tuesdays high yesterday before retreating 80% to the low of the day. The S&P is looking tired up here and is due for some negative momentum on the daily bars which will put us just above the upper .214 and well below the Pivot. I am not interested in the buy side in the S&P until we get a pullback on the daily bars and will only short sell off a significant gap up at the open that is above yesterdays high. We have rolled to the March 2007 contract (ES H7) today therefore the discrepancy in the chart versus the Fib Grid and Pivot Points.
*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 slip away from the upper .214 on Monday closing right at the upper .382 suggesting that buyers are not fleeing Notes as of yet since we continue to trade inside of last Fridays range. Watch the lower .214 of 109 7/32 today for signs of a continuance lower or a potential reversal to the high of last week.
*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 posted an inside day on Wednesday off mere wiggles and jiggles from the Oil Inventory report. Again, after 3 sessions of negative momentum, Oil is still trading within the range of last Thursdays high. Be defensive with your shorts in this environment as the Oil chart is suggesting a capitulation to Positive momentum may be immanent. In-fact, yesterdays support at the lower .214 of 62.00 holds today we could see a strong rally thru the high of last week. That said, momentum is still negative and if trading with resistance below the confluence of the lower .382 and the Pivot Oil is a short candidate. The Pivot has been at the same level for the last 3 sessions. That will likely change significantly by the end of today. Trade with Knowledge! Burr Jennings _____________________________________________________________________
Wednesday, December 6th ADP 8:15, 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 H7 (10 Year Note) and QM F7 (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: Support at Mondays close afforded a new 2006 high and close yesterday as the S&P slowly but surely worked higher throughout most of the day. Today I will continue to pursue the buy side as long as trading with support above the upper .214 as highlighted above with 1417.50 as my minimum profit target. A gap up at the open that is above yesterdays high and I will pursue only the short side as long as trading below the open with negative momentum on the daily bars as my minimum profit target. The S&P has not traded at the Pivot for 2 consecutive sessions and will more than likely do so 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 again posted inside of Fridays range yet outside of Monday. Notes are still way over-cooked at the current level and trading above last weeks high of 109 18/32 I will look for any good reason to short Notes on pullbacks that maintain below last weeks high. I am not interested in the buy side in Notes at this time until a significant sell-off exists. It will 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 market
Crude Oil: A gap up at the open was sold below Mondays low closing at the Pivot and Mondays close. We have an identical Pivot as yesterday with confluence at the lower .382 that is our line in the sand to short Oil against today. After 3 sessions of negative momentum, Oil is still trading within the range of last Thursdays high. Be defensive with your shorts in this environment as the Oil chart is suggesting a capitulation to Positive momentum may be immanent. If yesterdays high of 63.225 is broken, Oil is a buy on pullbacks that maintain above the confluence highlighted above. Trade with Knowledge! Burr Jennings _____________________________________________________________________
Tuesday, December 5th Productivity and Costs 8:30, Factory Orders and ISM Non-Mfg. 10:00 ET Today *Check this weeks economic calendar by clicking on: www.econoday.com eSignal Futures Symbols: ES Z6 (S&P500), ZN H7 (10 Year Note) and QM F7 (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 was bought right from the open on Monday with the 2006 high easily eclipsed and a close at the end of the day well above last weeks high. Today I will continue to pursue the buy side as long as trading with support above the confluence of the upper .214 and the Pivot as highlighted above with 1413.50 as my minimum profit target. A gap up at the open that is above yesterdays high and I will pursue only the short side as long as trading below the open with 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 posted a relatively quiet inside day after weakness at the open afforded buying. Notes are way over-cooked at the current level and trading above last weeks high of 109 18/32 I will look for any good reason to short Notes on pullbacks that maintain below last weeks high. I am not interested in the buy side in Notes at this time until a significant sell-off exists. It will 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 market
Crude Oil: Oil held resistance at last Thursdays open of 62.90 but could not get much traction to the south side. Today Oil must maintain below the confluence of the lower .214 and the Pivot as highlighted above to be considered still short-worthy. Be defensive with any shorts from the 62.90 area as Oil has had 2 consecutive days of negative momentum and has not sold-off appreciably. Trade with Knowledge! Burr Jennings _____________________________________________________________________
Monday, December 4th Pending Home Sales 10:00 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 F7 (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: Friday presented plenty of volatility offering opportunity for bulls and bears as significant selling at the open turned to significant buying in to the close leaving the S&P with negative momentum on the daily bars yet closing just below the upper .382 of today's opening Fib Grid. Today I will continue to pursue the short side in the S&P as long as trading with resistance below the lower .382 of 1395.50 with Fridays low of 1387.50 as my minimum profit target and 1380.00 as my ultimate target. Trading above Fridays high of 1404.50 and the buy side is favored as long as trading above Fridays close of 1400.50 which is within a tick of the upper .214 of Fridays range. Look for last weeks high of 1408.75 to be broken minimum and the high of 2006 at 1411.25 as my ultimate profit target to the buy side.
*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 shot higher on Friday as support just above the upper .214 led to a new high close that is less than 25/32 off the high of the year. Notes are way over-cooked at the current level and trading above last weeks high of 109 18/32 I will look for any good reason to short Notes on pullbacks that maintain below last weeks high. I am not interested in the buy side in Notes at this time until a significant sell-off exists. It will 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 market
Crude Oil: Oil sold-off at the open on Friday giving hope to bears but an afternoon rally dashed that hope in to the close. Today I continue to be only interested in the short side in Oil as long as trading below Thursdays open of 62.90 with a break of Fridays low at 62.20 as a minimum profit target. Confluence, as highlighted above is greater than last Thursdays open and may also be a good line in the sand to short against. I am not interested at all in the buy side at this time. 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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