| DATA Home Page |
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!
| _____________________________________________________________________
Friday, February 16th Housing Starts and PPI 8:30, Consumer Sentiment 10:00am, Options Expiration, E-mini March Oil Expiration 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 J7 (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 and the DATA chat room, the S&P found support at confluence yesterday and powered up to a new 52 week high by 1 tick. A very tight range day that tested the patience of all who participated. The S&P continues to have limited legs on breakouts and is suggesting that it is running out of gas at these levels. Today's pre-market economic announcements may give the S&P the necessary boost to hit 1464.00 and if this occurs off a gap up at the open that is above yesterdays high I will be focused entirely on the short side with a gap fill and negative momentum on the daily bars as my minimum profit target. Today's options expiration may artificially prop the S&P up providing a gap fill and negative momentum on the daily bars early next week (keep in mind that Monday is a holiday). Weakness that maintains support above the upper.214 of 1456.00 should be bought with 1462.00 as my minimum profit target and 1464.00 or higher as my 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 continued their march higher yesterday as suggested in DATA Morning Call. Today the end may be near for the current move up. I am no longer interested in the buy side in Notes. A gap up at the open today and I am a short seller. If the upper .214 cannot maintain support I am also a short seller. Look for negative momentum on the daily bars as a 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 market
Crude Oil: Oil sold off as expected on Thursday but on a gap down below the Fib Grid low which suggested a buy opportunity. A test of the morning swing low offered such an opportunity and Oil retraced back to Wednesdays close. Yesterdays price action suggests significant upside potential today in Oil with positive momentum on the daily bars and a squeeze towards the high of the week. The fact that the March contract is due to expire may help that squeeze significantly. March E-mini Oil expires today at 2:30pm ET. Use today's Pivot at 58.075 as your line in the sand to buy against. Trade with Knowledge! Burr Jennings ___________________________________________________________________
Thursday, February 15th Empire State and Jobless 8:30, ICPU 9:15, Natural Gas Inventory 10:30am, Philly Fed Noon ET Today Free DATA Trading Workshop in the Chatroom Today 4pm ET! Call 941-364-3600 for additional information *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 J7 (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, the buy side continued to be favored on Wednesday as my minimum profit target was easily surpassed and the high of day was within 2.5 points of my ultimate profit target. Today I will look for yesterdays strength to follow through with yet another new 52 week high as long as trading with support above the upper .214 of 1455.75 with1464.00 as my ultimate profit target. A gap up at the open that is above yesterdays high and I will work the short side 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: A small gap up at the open lead to a big move up supported at the lower .214 with a high at the end of the day just a tick below last weeks high. Today it is reasonable to assume that if the loose confluence of the upper .214 and the Pivot offers support that Notes will break through last weeks high of 107 13.5/32 with ease. Keep a tight leash on Notes here to the buy side as the current strength could become a double top failure in which case a move below Tuesdays low of 106 23/32 and last months low of 106 6.5/32 is quite possible.
*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 continued it's slippery ways on Wednesday trading between the upper and lower .214 posting negative momentum on the daily bars and closing a dollar lower. Today it is reasonable to assume that Oil will trade lower as long as trading with resistance below the confluence of the lower .382 and the Pivot as highlighted above. Look for a break below last weeks low of 57.825 minimum. E-mini Oil rolls to the April contract today (QM J7) therefore significantly different Fib and Pivot numbers today. The March contract expires tomorrow at 2:30pm ET. Trade with Knowledge! Burr Jennings ___________________________________________________________________
Wednesday, February 14th Retail Sales 8:30, Business Inventory 10:00, Oil Inventory 10:30am ET Today Free DATA Trading Workshop in the Chatroom Today and Tomorrow at 4pm ET! Call 941-364-3600 for additional information *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, the bull market returned in the S&P closing nearly 15 points above Mondays low suggesting a new run for the current 52 week high is in order. That said, we have a number of important economic announcements over the next 3 days that will either support or thwart that run for new highs. All current indications suggest support and that new 52 week highs are inevitable. Today I will be working the buy side as long as trading with support above the confluence of the upper .214 and the Pivot with last Fridays high of 1457.00 as my minimum profit target and 1464.00 as my 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: As suggested in DATA Morning Call, the short side was favored on Tuesday as Notes were again held at the lower .214 selling to new lows on the week. There exists no sign of significant strength in Notes and if trading below the lower .214 of 106 28/32 the short side is still favored as I am still looking for a break of 106 19/32
*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: As suggested in yesterdays DATA Morning Call, a short squeeze was put on Oil on Tuesday that built up in the pre-market and retraced to the upper .382 of yesterdays Fib Grid. Today it is reasonable to assume that strength will continue as long as trading with support above the upper .214 and Pivot as highlighted above. My ultimate profit target for the buy side is last weeks high of 60.775 which offers a potential broad risk/reward ratio. That said, we have Oil Inventory at 10:30am ET which may foil bulls and if Oil reverses and the short side becomes favored look for a break to well below last weeks low of 57.250 Trade with Knowledge! Burr Jennings ___________________________________________________________________
Tuesday, February 13th International Trade 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 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 maintained low relative strength and followed through to break last weeks low. Although momentum is still negative and relative strength quite weak, notice that the S&P recovered yesterday afternoon and closed above Fridays low. Not a big deal, but if strength at the open finds support at or above 1437.00 today the S&P may be ready to resume the up trend of the last 6 months. Keep in mind that we have important economic announcements on Thursday and Friday that equity bulls will likely want to be long in front of.
*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 gap down at the open in notes offered a rally that was defeated right at the lower .214 of the fib Grid closing Notes back down were they opened. The short side is still favored in Notes today as long as trading below the confluence of the lower .214 and the Pivot (a powerful combination) with 106 19/32 as a minimum profit target. Above confluence and all bets off the short side in Notes. International Trade at 8:30am ET will likely be an influence on Notes today.
*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 gapped down yesterday at the open and tested last weeks low before rebounding to the lower .214 and closing poorly. Oil is clearly gunning for last weeks low of 57.250 and if a gap down at the open exists that is below this level I will work the buy side with a gap fill and positive momentum on the daily bars as my minimum profit target. The March contract expires at the end of this week and it is likely that we see a squeeze put on the shorts (as has been the case over the last several weeks) going in to expiration. Trade with Knowledge! Burr Jennings ___________________________________________________________________
Monday, February 12th 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: An incredible week of reversals in the S&P was capped off with Fridays session. After 2 consecutive outside days in 1 week, The S&P duped us in to buying a capitulation to positive momentum with high relative strength, and why not, there certainly would not be 3 outside days in 1 week. Unheard of, statistically near impossible. But that is exactly what happened with nary a bounce until the last hour of the day. Today it is reasonable to assume that Fridays selling will continue. Confluence of the lower .382 and the Pivot are close enough to the previous low of last week (Fri Fib Grid low 1446.75) to offer resistance that should see a break of Fridays low of 1437.00 minimum.
*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 Fridays DATA Morning Call, Notes were tired and due for selling and that is exactly what we got. Look for Fridays selling to continue as long as trading below the confluence of the lower .214 and the Pivot (a powerful combination) with 106 19/32 as a minimum profit target. Above confluence and all bets off the short side 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: After a relatively quiet beginning to the week Oil pumped up the volatility in the last 3 days to post new highs on the week Friday. Today I am very interested in shorting a gap up at the open that is above Fridays high or shorting a test or breakout of Fridays high that fails bellow Fridays high. Talking about Friday, this Friday the March contract in Emini Oil expires and if taking a position to hold for a few days it may be a good idea to trade the April contract which will roll on Thursday. This is a particularly good idea given traders have a tendency to squeeze an expiring contract to one extreme or the other and clearly the extremes experienced in the March contract are to the buy side just as the extremes in the February contract were to the sell side. Look for a break below 57.250 this week or next 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.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
