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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 19th Consumer Sentiment 10:00am 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 H7 (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: Strength at the open was followed by a break below confluence Thursday and resistance that lead to easily breaking Wednesdays low. Given the current negative momentum and low relative strength in the S&P, I will work the short side today as long as trading with resistance below the confluence of the lower .382 and the Pivot .
*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 broke Wednesdays low off the CPI report only to rally back and find support at Wednesdays low closing at the high of the day. Today look for the confluence of the lower .382 and Wednesdays low of 106 30.5/32 to offer sup to buy against. Step aside if this level does not offer support.
*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: After posting a bullish outside day on Wednesday, Oil created a bearish outside day yesterday. We are back to buying extreme weakness or high relative strength today. A gap down at the open that is below yesterdays low of 51.10 and I will be buying aggressively as long as above the open. Trading with support above the loose confluence of the lower .382 and the Pivot and I will also work the buy side but not as aggressively as if a gap down exists at the open. Look for Oil to trade above yesterdays high of 53.35 minimum. Trade with Knowledge! Burr Jennings _____________________________________________________________________
Thursday, January 18th CPI and Housing Starts 8:30am, Leading Indicators 10:00, Oil and Natural Gas Inventory 10:30, Philly Fed Noon 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 H7 (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 was a slippery devil yesterday breaking Tuesdays low then Tuesdays high creating an outside day only to then slip below the low of the day in the last hour. With an identical close to Tuesday it is no wonder we have the same Pivot today as yesterday. Economic announcements will once again dictate price action much of today as CPI at 8:30am and Philly Fed at noon ET should offer volatility in both equities and treasuries. Yesterdays close and today's Pivot offer near perfect confluence and the lower .382 is within a few ticks. With an outside day yesterday at a new high for January we could easily go either way today. Use confluence as your line in the sand to trade against and be in the DATA chat room for the latest market analysis and ASK QUESTIONS!
*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 fade on Wednesday off economic announcements that suggest that inflation is under control easily breaking well below last weeks low. Notes are in oversold territory and a gap down at the open today and I will be working nothing but the buy side as long as Notes trade above the open with a gap fill and positive momentum on the daily bars as minimum profit target. Strength at the open that maintains above the Pivot should also be bought. Economic announcements at 8:30 and 12 noon ET today will have an impact on price action.
*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 broke Tuesdays low by 1 tick and rallied yesterday finishing the day at the high tick of the day. This may be the beginning of the significant rebound that I have been looking for. Look to be a buyer of Oil today on pullbacks as long as trading above the upper .382 and the Pivot as highlighted above. My minimum profit target is 54.30 and ultimately 59.425 (not necessarily today...) Trade with Knowledge! Burr Jennings _____________________________________________________________________
Wednesday, January 17th PPI 8:30am, IPCU 9:15, Beige Book 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 G7 (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 break above last Fridays high and the S&P retreated with a very small pullback that although closed negative on the day, suggested few sellers. That may change today and tomorrow with fresh economic announcements served up pre-market and the buy side clearly loaded up for an advance above my ultimate profit target of 1444.25. Yesterdays close and todays Pivot offer confluence at 1439.00 and as long as trading with support above this level I will work the buy side in the S&P. Keep in mind that today would be the 5th day up in the S&P and a pullback is inevitable. Trading below yesterdays low of 1436.25 and the short side will be favored as long as continuing to trade with resistance below 1439.00
*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 posted a lame advance above Fridays high yesterday and retreated to close below Fridays low suggesting lower prices today. Price action will likely be dictated by 8:30am ET economic announcements today. Look for the confluence of the upper .382 and the Pivot to be your line in the sand. The sell side is loaded up in Notes and if today or tomorrows announcements are favorable to Notes (which will likely have the opposite reaction in the S&P) expect a significant rally. Disappointing announcements should have limited downside given the current oversold environment.
*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 broke to a new 52 week low on Tuesday as the bears continue to squeeze the bulls out of the February contract. February expires on Thursday and it is a fair bet that the rally in Oil that I am looking for will come once the March contract is the front month. Again, a gap down at the open and I will be aggressively buying Oil on the March contract QM H7 looking for a gap fill and positive momentum on the daily bars and ultimately several dollars higher. Yesterdays close is within striking distance of today's Pivot in both contracts and will be my line in the sand to buy against should a gap down at the open not exist. February close 51.25 and March close 52.00 Trade with Knowledge! Burr Jennings _____________________________________________________________________
Tuesday, January 16th Empire State Index 8:30am 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 G7 (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: Confluence again held high relative strength on Friday pushing the S&P up to yet another profit target as suggested in DATA Morning Call and in the DATA chat room. We now have nearly 30 points up from Wednesdays low and the S&P is likely to relax especially after getting through my ultimate target of 1444.25 but hefty economic announcements as well as earnings this week may goose things higher. A gap up above Fridays high of 1441.50 at today's open and I will work only the short side with a gap fill and negative momentum on the daily bars as my minimum profit target. Weakness at the open will likely be bought as long as trading above the confluence of Thursdays high of 1435.75 and the upper .214 of 1435.25 with a new 52 week high above 1444.25 as my ultimate 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: Notes continued to slip away on Friday posting a new 10 week low. Look for Notes to potentially get a footing this week establishing support above last weeks low of 107 01/32. A gap down below last weeks low at the open today and I will work 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. Strength at the open that is sold-off to break last weeks low and I will pursue the buy side as long as Notes rebound and offer support above last weeks low. I am not interested in the short side at this time.
*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 broke Thursdays low and rallied nicely on Friday suggesting higher prices today. I am still looking for a massive short squeeze in Oil at some point. The February contract expires this week and it is likely that the bears will continue to try to squeeze out the bulls in to expiration. If buying on a gap down or any other extreme weakness as well as on high relative strength such as above today's Pivot, be sure to do so on the March contract which should become quite liquid today. Trade with Knowledge! Burr Jennings _____________________________________________________________________
Monday, January 15th Dr. Martin Luther King Day - U.S. Markets Closed _____________________________________________________________________ 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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