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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 26th Durable Goods 8:30, New Home Sales 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: A slightly lower open lead to a cascade of selling yesterday as the S&P came within ticks of breaking the low of the week. The S&P is in trouble folks with its sight set on breaking 1426.75 and ultimately 1412.25 especially if today's economic announcements are sour. We have confluence at the lower .382 and the Pivot as highlighted above and as long as trading below confluence focus on the short side in the S&P. A gap down at the open may not be a buy opportunity today so if looking to buy a gap down be sure to do so only if trading above the open.
*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 down yesterday and are now a buy on extreme weakness as I have suggested in previous DATA Morning Call. Look to buy weakness today especially below yesterdays low of 106 13/32 for a position trade looking for 16/32 to 32/32 of profit.
*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 Wednesdays high and retreated off resistance just below R1 selling off to yesterdays upper .382 suggesting the bull may not be dead yet in Oil. Without much in the way of confluence today Oil is suggesting it could go either way. With positive momentum on the daily bars and trading above the upper .382 of 54.425 short-term bias is still bullish. Be in the DATA chat room for the latest analysis. Trade with Knowledge! Burr Jennings _____________________________________________________________________
Thursday, January 25th Jobless 8:30, Existing Home Sales 10:00, Natural Gas Inventory 10:30am, 5-Year Note Auction 1:00pm 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 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: A break above Mondays high offered buy opportunities on every pullback yesterday in the S&P as a new 52 week high was posted and my ultimate profit target easily broken through. Given that yesterday was the momentum capitulation day in the S&P it is reasonable to assume continued buying today perhaps as high as 1453 after which expect a struggle. Expect support above the confluence of the Pivot and upper .214 (a powerful combination). A gap up at the open that is above yesterdays high and I will work nothing but the short side below the open 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 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 resistance at the Pivot and slid lower on Wednesday breaking the low of the week but finding support above the low of last week. Today the song remains the same: Notes remain a sell bias as long as trading below the confluence of the lower .214 and the Pivot as highlighted above. Again, I am a position buyer in Notes below 106 18.5/32 looking for a 16/32 to 32/32 rally.
*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 support at the upper .382 yesterday and rallied to a new high on the week squeezing out more short sellers as Oil is now committed to filling the gaps down from last month. That said, Oil may be getting a bit ahead of itself on this run up. At $56 Oil is $5 off last weeks lows and at R1, an area I would expect exhaustion and an inevitable pullback of $1.50 or more. A gap up at the 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 support remains above the loose confluence of the Pivot and the upper .214 with a new high on the week above 55.425 as a minimum profit target. Trade with Knowledge! Burr Jennings _____________________________________________________________________
Wednesday, January 24th Oil Inventory 10:30am, 2-Year Note Auction 1:00pm 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 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: A test of Mondays low lead to a rally in the S&P that almost broke Mondays high until a soft treasury market and strong Oil put the double whammy on equities causing a sell-off back to Mondays afternoon high and close creating an inside day. Today I will be looking for yesterdays strength to follow through as long as trading above the confluence of the lower .382 and the Pivot as highlighted above with last weeks high of 1443.00 as my minimum profit target. Keep in mind this is in the face of the current negative momentum on the daily bars but given that the Monday afternoon swing low and high was bought yesterday it suggests accumulation and a new move up. That said if confluence does not offer support and becomes resistance it is back to working the short side with this weeks low of 1426.75 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 session 108 145/320 = 108 14.5/32 or 108 29/64 depending on your charting software
10 Year Note: Notes opened and fell out of bed on Tuesday testing the low of last week which I would expect to break today. Notes remain a sell bias as long as trading below the confluence of the lower .214 and the Pivot as highlighted above. Again, I am a position buyer in Notes below 106 18.5/32 looking for a 16/32 to 32/32 rally.
*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: With a small gap up at the open, Oil worked its way above last weeks high and met a strong rally in the last 30 minutes to close at $55. Today it is reasonable to assume that yesterdays strength will follow through as long as trading above the confluence of the upper .214 and the Pivot as highlighted above with yesterdays high of 55.125 as a minimum profit target. Trade with Knowledge! Burr Jennings _____________________________________________________________________
Tuesday, January 23rd State Street Investor Confidence 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: The S&P opened and simply fell out of bed on Monday easily breaking last weeks low and falling another 4 points. Yesterdays selling will likely continue today as levels of confluence from last weeks low and yesterdays close at 1431.00 to the loose confluence of the lower .382 and the Pivot as highlighted above offer resistance. Look for a break below yesterdays low and 1424.00 minimum and ultimately we could see a break to 1412.00
*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 quiet inside day on Monday leaving us with a similar trading plan today. I am looking at positioning to the buy side this week in Notes under 2 separate conditions. First, I am a position buyer at 106 18.5/32 and second I am a buyer if Notes break last weeks low of 106 23.5/32 and then rally and offer support above this number. Look for an overdue 16/32 to 32/32 rally in Notes. Trading above the Pivot and Notes are bullish as well, below all bets off to the buy side unless the extreme selling conditions exist as outlined 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: A gap up at the open yesterday filled the gap to 1/12 close offering an exceptional opportunity to cover longs from last week. An afternoon sell-off to fill the gap up on the day created an outside day. Today weakness will likely continue and the short side is favored below the confluence of the lower .382 and the Pivot as highlighted above. A test and perhaps a break of last weeks low at 51.10 is likely. Trade with Knowledge! Burr Jennings _____________________________________________________________________
Monday, January 22nd No Significant Economic Announcements Today *Check
this weeks economic calendar by clicking on: 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 posted a relatively quiet inside day on Friday after what was also a relatively quiet and abbreviated week of trading. Again today I will be looking for weakness that maintains resistance below the loose confluence of the lower .382 and the Pivot as highlighted above to take the S&P below 1431.00 minimum. We have few economic announcements this week and things could be a bit quiet. That said, in the big picture the S&P is still very bullish. Last week was a continuance of positive momentum on the weekly bars and the pullback to the 1/10 low was exactly .382 suggesting higher prices this week. Above 1438.00 and my bias returns to bullish today as long as prices maintain support above the confluence highlighted above with 1444.25 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 session 108 145/320 = 108 14.5/32 or 108 29/64 depending on your charting software
10 Year Note: A small gap up at the open and Notes retreated to Wednesdays low and closed poorly on the day. Fridays price action suggests further weakness which I welcome in Notes. I am looking at the buy side this week in Notes under 2 separate conditions. First, I am a position buyer at 106 18.5/32 and second I am a buyer if Notes break last weeks low of 106 23.5/32 and then rally and offer support above this number. Look for an overdue 16/32 to 32/32 rally 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: A gap up at the open in Oil was bought on Friday and closed above Thursdays high suggesting further strength today. The February pit contract expires at 2:30pm ET today and I will pursue the buy side under 1 of 2 conditions. Should confluence of the upper .214 and the Pivot as highlighted above offer support I will pursue the buy side below which all bets off the buy side. Breaking below last weeks low and I am again very interested in the buy side as a position trade looking for a minimum $2 to $3 bounce. 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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