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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, January 5th Employment 8:30, Natural Gas Inventory 10:30am 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 test of Wednesdays low was bought yesterday as the Nasdaq lead the Dow the entire day. Oil closing at a new 52 week low sparked a rally at 2:30pm ET and found resistance at the upper .382 before closing at the Pivot. Today we have the all-important Employment Report at 8:30am ET which should set the tone for the day in both equities and treasuries. We gain have confluence at the same level as yesterday with the lower .382 and the Pivot a tick apart serving as our line in the sand to buy or short sell against.
*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 held confluence to the tick on Thursday with an advance to a new high on the week. Today we have perfect confluence at the upper .214 and the Picot (a powerful combination) which as long as trading above the buy side is favored. We also have Employment at 8:30am ET which will surely rock the boat. Avoid the buy side in Notes below 108 even.
*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 fell out of bed hard again yesterday as another $2.50 came out of Oil relative to the previous close. Given the oversold condition in Oil I will be looking for a buy opportunity on a gap down at the open today that maintains above the open with a gap fill and positive momentum on the daily bars as my minimum profit target. Trade with Knowledge! Burr Jennings _____________________________________________________________________
Thursday, January 4th Jobless 8:30, Factory Orders and ISM Non-Mfg. 10:00, Oil Inventory 10:30, Chain Store Sales 12:00pm 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: Early strength led to a break above last weeks high only to be defeated in the afternoon after FOMC minutes were released causing a break below last weeks low which posted an outside day as well as an outside week. A 10 point rebound in to the close suggests the bulls are still charging and today, given the negative momentum and close, I will only be working the short side below the confluence of the lower .382 and yesterdays close which is also approximately Fridays low.
*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 with a small gap up and sold to the lower .382 before getting some traction off the 2pm ET FOMC minutes. Yesterdays strength was somewhat lame and Notes must remain above the loose confluence of the upper .382, Pivot and yesterdays close to be considered bullish today. Below yesterdays low and Notes are likely to trade below last weeks low of 107 11.5/32
*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 fell out of bed hard yesterday with no more than 1 tick of positive momentum on the 30 minute bars as more than $2.50 came out of Oil relative to the previous close. Today we have Oil Inventory at 10:30am ET and given the oversold condition in Oil I will be looking for a buy opportunity on a gap down at the open that maintains above the open with a gap fill and positive momentum on the daily bars as my minimum profit target. Trade with Knowledge! Burr Jennings _____________________________________________________________________
Wednesday, January 3rd ADP 8:15, Construction Spending and ISM Mfg. 10:00, FOMC Minutes 2:00pm 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: Welcome to the New Year! Tax loss selling and end of year portfolio positioning saw a discount in the S&P futures last Friday going in to the close that is likely to at least rebound this morning. FOMC minutes at 2pm ET will likely be a deciding factor in to today's close with a bullish bias above 1434.25 and a bearish bias below 1430.50. The bulls will be looking for last years high of 1444.25 and the bears 1425.50 and 1419.75
*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 were terribly oversold last Friday and are due for at least a bounce if not an outright rally as a full 2 points have been given up from the December high. Look to be long Notes today as long as trading above the confluence of the upper .382 and the Pivot as a position trade looking for16/32 or more profit. Below confluence all bets off to the buy side. I am not at all interested in the short side at these levels in Notes.
*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 sported an outside day on Friday and if trading above the loose confluence of the upper .382, the Pivot and Fridays/yesterdays close I will pursue the buy side in Oil below which all bets off to the buy side. Trade with Knowledge! Burr Jennings _____________________________________________________________________ Tuesday, January 2nd In observance of the passing of former President Gerald Ford, U.S. Markets will be CLOSED today including all Stock, Options and Futures markets. _____________________________________________________________________ Monday, January 1st 2007 U.S. Markets Closed, Happy New Year!! _____________________________________________________________________ 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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