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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 9th 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 continued to whip about both bulls and bears on Thursday as Wednesdays breakout above two consecutive outside days failed breaking the low of the week before rallying back to the same close now 3 out of 4 days this week. Notice the reverse pennant that has formed in the chart above as defined by the support and resistance trend lines. Given yesterdays close it appears we are in for more of the same today. After breaking the low of the week the S&P rallied back more than 60% of the weeks range to close strong on the day. It is reasonable to assume that yesterdays strength will follow through today. The Pivot shares confluence with yesterdays 210 minute morning high and is within a point of the lower .382 suggesting that is support exists at or above this level we may see new highs on the 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 session 108 145/320 = 108 14.5/32 or 108 29/64 depending on your charting software
10 Year Note: Notes continued to grind higher on Thursday as the 30-year Bond auction appeared to please traders. Notes are due to run out of gas up here and any failure to exceed yesterdays high or breakdown below the lower .214 of 107 8/32 and Notes should be shorted with the Fib low of 106 19/32 as my minimum profit target. Without any economic announcements until Tuesday of next week things could be a bit dull 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 suggested a selling opportunity early yesterday as confluence held resistance until the last hour of the day whereupon Oil streaked to test the high of the week. Incredibly it was still an inside day given yesterdays selling. If you missed these past two moves don't be hard on yourself. Both were rumor/news driven and afforded little opportunity to get on board as relative strength capitulated quite rapidly. Pullbacks to the $59 area should find support today due to the confluence of the upper .382 and the Pivot as highlighted above. It is likely we see a squeeze in to the close today similar to last Friday. A gap up at the open should be sold short but only if trading below the open. Be careful with shorts as Oil is suggesting a run to $61.50 or so. Trade with Knowledge! Burr Jennings ___________________________________________________________________
Thursday, February 8th Jobless 8:30, Wholesale Trade 10:00, Natural Gas Inventory 10:30, 30-Year Bond 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: The S&P gapped up and rallied to new highs yesterday closing well into new 52 week high territory. After 2 outside days we now have a continuance of positive momentum on the daily bars that if trading above the Pivot today we should see new highs at least to R1 at 1458.75 and ultimately 1464.00. Notice that confluence is also Tuesdays high, an area of resistance that may now become 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 session 108 145/320 = 108 14.5/32 or 108 29/64 depending on your charting software
10 Year Note: Notes held support at the upper .214 on Wednesday and followed through with new highs for February. Today it is reasonable to assume that strength in notes will continue as long as trading above the confluence of the upper .214 and the Pivot (a strong combination). Resistance at this level may be the beginning of the next move down to last months low of 106 6.5/32.
*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 finally gave us the negative momentum on the daily bar I have been looking for over the past few sessions establishing a new Fib Grid and closing well below the low of the previous 2 days. Today I will continue to pursue the short side as long as trading below the confluence of the Pivot and lower.382 with 57.100 as my minimum profit target. Trade with Knowledge! Burr Jennings ___________________________________________________________________
Wednesday, February 7th Productivity and Costs 8:30, Oil Inventory 10:30, 10-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: Mondays outside day was met with yet another outside day yesterday as the love/hate relationship in equities continued. The love clearly overtook the hate in the afternoon and although I prefer the short side at these levels the buyers are suggesting another leg up as long as the S&P can maintain support above the confluence of the upper .382 and the Pivot as highlighted above. Yesterdays low is the .214 retracement to the 1/26 low further suggesting the bulls are maintaining control. Look for a break above 1456.00 today and ultimately 1464.00
*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 found support at the lower .214 and rallied all the way to the close without any pullback what-so-ever. Today it is reasonable to assume that yesterdays strength will continue to follow through as long as trading above the confluence of the up[per .382 and the Pivot as highlighted above. A 10-Year Note auction at 1pm ET will likely set the tone for the balance of the day so be aware.
*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 relatively quiet inside day left Oil just slightly higher than Mondays close and therefore leaving us with the same Fib Grid as yesterday. Today we have Oil Inventory at 10:30am ET which given the recent cold weather will be highly anticipated by traders. At these levels I favor the short side but as many of you already know, anything can happen off one of these reports. Be in the DATA chat room for the latest analysis. Trade with Knowledge! Burr Jennings ___________________________________________________________________
Tuesday, February 6th 3-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: Yesterdays price action posted an outside day in the S&P as a break below Fridays low was bought to just a tick above Fridays high closing just off the high. The S&P continues to look bullish here but statistically is also due for a pullback of a greater magnitude than yesterdays. Trading below the confluence of the upper .382 and the Pivot and I will be working the short side looking for a break of yesterdays low of 1448.00 minimum. A gap up at the open that is above yesterdays high of 1454.25 and I will be working the short side as long as trading below 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: A quiet inside day on Monday leaves us with the same trading plan today in Notes. Notes are heavy here and are a short below the loose confluence of the lower .382 and the Pivot as highlighted above with the January low of 106 6.5/32 as my ultimate profit target. We have Note and Bond auctions today and the next two days which if soft will have my profit target easily achieved.
*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, a gap up at the open was a prime opportunity to short Oil with a close near the low of the day. Yesterdays selling should follow through today with a break of yesterdays low of 58.450 minimum. Look for the Pivot of 59.025 and Thursdays high of 59.075 to offer resistance in Oil today, above which all bets off to the short side unless on a gap up at the open. Trade with Knowledge! Burr Jennings ___________________________________________________________________
Monday, February 5th ISM Non-Manufacturing 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 continued to bang out new highs on Friday but as can be seen in the chart above each new high was a struggle and was sold in to. Although my expectation is to see 1464 in the S&P I would also expect a pullback on the daily bars before this level is reached. Short selling a gap up at the open today or short selling breakouts that fail will be my focus with negative momentum on the daily bars as my minimum profit target. In the big picture I will be looking to buy those pullbacks for new highs in the near future.
*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 found resistance at the upper .214 on Friday and faded to break Thursdays low by only a tick. Notes are heavy here and are a short below the loose confluence of the lower .382 and the Pivot as highlighted above with the January low of 106 6.5/32 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 market
Crude Oil: Oil held resistance at confluence on Friday but could not break Thursdays low which ultimately lit a rally that broke just above Thursdays high. Today Oil is a short on a gap up that cannot maintain above the open or weakness that cannot get above last weeks high. Look for a break of 57.100 as a minimum profit target for short selling in Oil. 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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