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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, February 2nd Employment 8:30, Consumer Sentiment and Factory Orders 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: As suggested in yesterdays DATA Morning Call, high relative strength lead to new 52 week highs in the S&P as a new leg up in the bull market has now been established after 2 months of banging on the mid 1440's the S&P has broken out and is looking at the mid 1460's as an ultimate upside target. Bonds and Notes agree the stock market is strong for good reason and are once again in retreat as the expectation of interest rate cuts from the federal reserve gets pushed further in to the future. Today's plan is identical to yesterdays. It is reasonable to assume that yesterdays strength will continue with a break to new 2007 highs. Look for relative strength to maintain a high level with support between the Pivot at 1448.75 and the upper .214 at 1445.50 to buy against. A gap up at the open that is above yesterdays high of 1451.75 and I will work only the short side as long as trading 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: As suggested in yesterdays DATA Morning Call, Thursday was a fine day to exit long positions in Notes as R2 was within 2 ticks of the high of the day before Notes imploded off 10am ET economic announcements. Today we have the Employment Report at 8:30am ET which if strong could toss Notes back to the low of the week. Strength will likely be sold especially against the confluence of the upper .382 and the Pivot as highlighted above. Be in the DATA chat room for the latest.
*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: As suggested in yesterdays DATA Morning Call, the short side was the place to be on Thursday as new highs on the week were sold in to aggressively with Oil closing just off the low of the day. Today it is reasonable to assume that selling will continue as long as the confluence of the upper .214 and the Pivot offer resistance. Look for negative momentum on the daily bars and at least a $1 move lower with the 1/29 low of 53.850 as an ultimate profit target. If Oil can establish support above confluence we could see yet another rally to the high of the week above which I am again a short seller in Oil. Trade with Knowledge! Burr Jennings ___________________________________________________________________
Thursday, February 1st Jobless and Personal Income 8:30, ISM Manufacturing and Pending Home Sales 10:00am, Natural 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 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: As suggested in DATA Morning Call, the S&P continued to enjoy bullish levels which coupled with a favorable FOMC announcement lead to new highs for 2007. Today it is reasonable to assume that yesterdays strength will continue with a break to new 2007 highs. Look for relative strength to maintain a high level with support between the Pivot at 1439.50 and the upper .214 at 1441.50 to buy against. A gap up at the open that is above yesterdays high of 1446.75 and I will work only the short side as long as trading 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: After many moon's our long position in Notes finally popped yesterday closing near the high of the day off the FOMC announcement. Today I am looking to exit longs above yesterdays high and especially if a gap up at the open exists that is above yesterdays high. Weakness at the open that maintains support above the upper .214 of 106 21/32 and Notes are a buy to at least break above yesterdays high and potentially hit R1 or R2. Below 106 21/32 and 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 market
Crude Oil: Oil volatility continued on Wednesday spurred by the Oil Inventory report which initially prompted selling and ultimately strong buying that once again left Oil at high tick of the day on the close. Today I will only focus on the short side in Oil especially on a gap up at the open that is above yesterdays high looking for negative momentum on the daily bars as my minimum profit target. Trade with Knowledge! Burr Jennings ___________________________________________________________________
Wednesday, January 31st ADP 8:15, ECI and GDP 8:30, Construction Spending and NAPM Chicago 10:00am, Oil Inventory 10:30, FOMC 2:15pm 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 gave us the bullish drift we were looking for yesterday closing at the high of the day. Today I will be looking for yesterdays strength to follow through to well above yesterdays high as long as the confluence of the upper .214 and the Pivot offer support. We have a massive amount of economic data for traders and investors to crunch throughout the day today culminating with the all-important FOMC decision on interest rates at 2:15pm ET. As suggested, my bias is bullish the S&P today but only if trading above 1431.75. If trading today be sure to be in the DATA chat room as there will be plenty to discuss and analyze throughout the day.
*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 tight inside day yesterday left treasury traders wondering what it will take to move Notes and Bonds. The answer will come today as a plethora of economic announcements hit the tape from 8:15am to 2:15pm as outlined above. Notes are and have been oversold for days and could pop back up to the 107 area off favorable announcements today. That said we could also lose 16/32 from announcements that are not favorable and I am a buyer of Notes at 106 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: An unbelievable rally in Oil left short sellers in shock well before the close yesterday. As can be seen in the chart above, there was no reason to short the small gap up at the open and as Mondays high was broken there were great reasons to buy in to the rally. But as you can see, there was never a single pullback on the 30 minute chart as momentum traders in the pit continued to bid up price all the way in to the close. Today we have the all-important Oil inventory report at 10:30am ET and although momentum is positive and relative strength high I am focused on only the short side especially on a gap up at the open. Trade with Knowledge! Burr Jennings _____________________________________________________________________
Tuesday, January 30th Day before FOMC and Consumer 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: A flat open lead to support at confluence and a break above Fridays afternoon high only to be aggressively sold-off to break the low of the day and test last weeks low creating an inside day. Today we retain the same Fib Grid given yesterdays inside day and the Pivot points are nearly the same as well given almost identical range and close compared to Fridays price action. Today is the day before the FOMC announcement on interest rates. We may get an early push to below last weeks low of 1422.00 but in the afternoon expect a bullish drift to an outright rally that closes strong at the end of the day. I will be looking for that strength to follow through Wednesday morning breaking above Tuesdays high.
*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 attempt to rally yesterday was again thwarted in the early hours spending the balance of the day selling-off to test the low of last week posting an inside day. Given the inside day the trading plan for Notes remains unchanged. Notes are oversold and due to at least rally above Fridays high of 106 19/32 and given that FOMC is tomorrow Notes are due for some optimism. Work the buy side today as long as trading above the confluence of the lower .214 and 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 opened lower yesterday and rallied to Fridays close before falling out of bed closing down well over a dollar. Today, as long as trading below the confluence of the Pivot, which is smack in the middle of the lower .214 and .382, the short side will be favored. Expect a visit back to at least the $52 level over the next week or so. Trade with Knowledge! Burr Jennings _____________________________________________________________________
Monday, January 29th No Significant Economic Announcements 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 had a rough couple of days last week after a run to new 52 week highs in both the S&P and Dow then selling off to completely engulf the range of the previous week closing just above Mondays low. Today it is reasonable to assume that selling will continue. With confluence at The lower .214, the Pivot and Fridays close we have a line in the sand to short sell against with last weeks low of 1422.00 as a minimum profit target and 1412.25 as an ultimate 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 gapped down at the open and sold further off the 8:30am ET economic announcements on Friday only to rebound as suggested in DATA Morning Call. Notes are oversold and due to at least rally above Fridays high of 106 19/32 and given that FOMC is this Wednesday Notes are due for some optimism. Work the buy side today as long as trading above the confluence of the lower .214, Pivot and Fridays close.
*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 quiet inside day on Friday leaves us with the same trading plan today. 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 _____________________________________________________________________ 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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