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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, December 15th CPI 8:30, IPCU 9:15 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 YESTERDAY'S market The Fib Grid and Pivot Points below represent TODAY'S session
S&P 500: As suggested in yesterdays DATA Morning Call, the buy side was the place to be on Thursday in the S&P. Unfortunately the majority of the move up was made in the first 30 minutes and as you can see above, pullbacks were no more than 1 tick of negative momentum on the 30 minute chart. Today we have the expiration of the December contract at 9:30am and CPI at 8:30am ET which has the possibility of affording a gap up above yesterdays high of 1440.00 at today's open which will signal a significant shorting opportunity as long as trading below the open. Look for a gap fill and negative momentum on the daily bars as a minimum profit target. Weakness at the open that maintains above the confluence highlighted above and we will likely see a rally in the S&P that breaks above yesterdays high. A poor CPI number and we could see the S&P give back all of yesterdays gains.
*Chart above represents the Fib Grid and Pivot (short red line) from YESTERDAY'S 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 trade heavy on Thursdays with little suggestion that Treasury traders wanted to be long in front of today's CPI report. Notes remain bearish below 108 15/32. If the S&P falls out of bed off the 8:30am ET CPI report and Notes can maintain support above 108 15/32 then the buy side will be back in favor with Wednesdays high of 109 6/32 as my minimum profit target.
*Chart above represents the Fib Grid and Pivot (short red line) from YESTERDAY'S market The Fib Grid and Pivot Points below represent TODAY'S market
Crude Oil: A gap up at the open was defended in the afternoon as a rally in to the close suggests higher prices in Oil today. Be aware that yesterdays gap up is not a high probability gap as defined in the DATA methodology and although may fill in the near future is not worthy of a DATA trade alert. Trading above the loose confluence of the upper .214 and the Pivot and Oil is likely to see last Fridays high of 63.60 or higher. Trading below 62.30 and all bets to the buy side come off. Trade with Knowledge! Burr Jennings _____________________________________________________________________
Thursday, December 14th Import/Export and Jobless 8:30, Quarterly Services 10:00, 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 YESTERDAY'S market The Fib Grid and Pivot Points below represent TODAY'S session
S&P 500: A gap up at the open offered a prime opportunity to short the S&P yesterday. Support at the Pivot sent prices higher and in to consolidation for the balance of the day. A positive close suggests strength today a a visit to 1432.00 should be expected. Yesterdays close, Tuesdays high of 1427.00 and today's Pivot are within a tick of each other and the upper .214 is within 3 ticks of the Pivot. Expect this area to be our line in the sand today to buy against, below which all bets off to the buy side.
*Chart above represents the Fib Grid and Pivot (short red line) from YESTERDAY'S 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 got spanked off Retail Sales on Wednesday easily breaking the low of the week. The short side is favored today as long as trading below the confluence of the lower .382 and the Pivot. Yesterday was a big day down for Notes and the buy side is due to be favored. Be patient as Fridays CPI could offer Notes one more good spanking before a rebound next week.
*Chart above represents the Fib Grid and Pivot (short red line) from YESTERDAY'S market The Fib Grid and Pivot Points below represent TODAY'S market
Crude Oil: Oil posted an inside day on Wednesdays tests of Tuesdays low afforded a higher close that has perfect confluence with today's Pivot. After 3 days of lower closes and/or negative momentum, yesterdays inside day and higher close suggests higher prices for Oil today as long as trading above 61.325 with the high of the week at 62.250 as my minimum profit target. Below 61.325 and all bets off to the buy side in Oil. Trade with Knowledge! Burr Jennings _____________________________________________________________________
Wednesday, December 13th Retail Sales 8:30, Business Inventories 10:00, Oil Inventory 10:30, 10-Year Note 1:00 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 YESTERDAY'S market The Fib Grid and Pivot Points below represent TODAY'S session
S&P 500: Resistance at Mondays close and the upper .214 sent the S&P lower on Tuesday easily breaking Mondays low. The 2:15pm ET FOMC announcement afforded a rally back to the Pivot closing down only 2 points at the end of the day. This suggests that buying will return today with a new 2006 high as our ultimate profit target. With confluence at the upper .382 and yesterdays close I will use 1424.50 as my line in the sand to buy against. Retail Sales at 8:30am ET could ruin any party bulls have planned for today so be aware that we do have negative momentum on the daily bars and if trading below the loose confluence of the lower .214 and the Pivot as highlighted above, the short side will be favored with a break of last Fridays low of 1416.25 as a minimum profit target.
*Chart above represents the Fib Grid and Pivot (short red line) from YESTERDAY'S 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 were a buy off the loose confluence of the lower .214 and the Pivot closing strong at the end of the day. Expect further strength from Notes today especially if we get soft Retail Sales numbers at 8:30am ET with support at the confluence of the upper .214 and the Pivot as highlighted above.
*Chart above represents the Fib Grid and Pivot (short red line) from YESTERDAY'S market The Fib Grid and Pivot Points below represent TODAY'S market
Crude Oil: Oil found resistance at the confluence of the lower .382 and R1 yesterday selling off to easily break Mondays low. Oil has been quite heavy the past 3 sessions and that will likely continue today as long as trading below the loose confluence of the lower .214 and the Pivot as highlighted above. A significant gap down at the open that is well below yesterdays low of 60.650 and I will pursue the buy side as long as trading above the open with a gap fill and positive momentum on the daily bars as my minimum profit target. Trade with Knowledge! Burr Jennings _____________________________________________________________________
Tuesday, December 12th International Trade 8:30, FOMC Announcement 2:30 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 YESTERDAY'S market The Fib Grid and Pivot Points below represent TODAY'S session
S&P 500: The S&P found support at the confluence suggested in yesterdays DATA Morning Call and rallied to just above the upper .214 before settling back and closing just above the upper .382 off tight afternoon range. Today's line in the sand has moved up to the loose confluence of the upper .214 and the Pivot as highlighted above where I will continue to pursue the buy side as long as trading above. We have FOMC at 2:15pm today and I will expect a bullish bias until at least noon ET. There is no change expected in interest rates but traders will be focused on the Fed comments that accompany the announcement and will likely establish a trend in to the close by 3pm ET. Be in the DATA chat room for the latest analysis.
*Chart above represents the Fib Grid and Pivot (short red line) from YESTERDAY'S 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 opened Monday and broke Fridays low only to quickly reverse to trade above the lower .214 suggesting a rally is in store for today. Look for support at or above today's loose confluence as highlighted above to consider buying Notes below which all bets off to the buy side. Be aware that FOMC at 2:15pm ET will more than likely have a significant effect on Notes today.
*Chart above represents the Fib Grid and Pivot (short red line) from YESTERDAY'S market The Fib Grid and Pivot Points below represent TODAY'S market
Crude Oil: A gap down at the open broke last weeks low before rebounding to Fridays close only to once again be sold in to the close. Oil has been quite heavy the past 2 sessions and that will likely continue today as long as trading below the loose confluence highlighted above which is also approximately last weeks low. Trade with Knowledge! Burr Jennings _____________________________________________________________________
Monday, December 11th Day Before FOMC and Wholesale Trade 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: An initial push lower found support at S1 to the tick rallying the S&P to the upper .382 before settling down to close at the lower .214 of the opening grid. Today is the day before the FOMC meeting and is often bullish especially in the afternoon. As long as trading below the confluence of the lower .382 and the Pivot (which is also Fridays close) I am bearish the S&P with Fridays low of 1416.25 as my minimum profit target. Above the upper .382 and certainly Fridays high of 1427.75 and the bulls are back in control with Thursdays high of 1432.00 as a 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: Held down by confluence at the lower .214 and the Pivot (a strong combination as suggested), Notes imploded off the 8:30 Employment report and never looked back closing at the low of the day. This was the selling I have been looking for over the past week that may lead to a new push up in Notes. Meanwhile, as long as trading below the lower .214 of 108 26.5/32 Notes are bearish with the bulls coming back in full force as early as Tuesday this 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 displayed irrational exuberance at the open on Friday and was punished for such in the afternoon as $1.50 worth of selling hit the tape by the close. Oil has been miserable over the last week and is only a buy trading above the Pivot today. Trading below Fridays low and we could see significant continued selling in Oil with last weeks low of 61.525 as my minimum profit target. 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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