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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, April 13th International Trade and PPI 8:30, Consumer Sentiment 10:00 ET Today *Check this weeks economic calendar by clicking on: www.econoday.com eSignal Futures Symbols: ES M7 (S&P500), ZN M7 (10 Year Note) and QM K7 (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: Weakness at the open broke Wednesdays low and a rally back to confluence briefly offered resistance before a continuance tested the high of the week. Today it is reasonable to assume that yesterdays strength will continue as long as trading above the loose confluence of the upper .382 and the Pivot as highlighted above. Look for a break above the high of the week at 1458.25 as a minimum profit target with 1464.75 as an ultimate target. Below confluence all bets off to the buy side. International Trade and PPI at 8:30am ET today will likely set the tone for the S&P 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 session 108 145/320 = 108 14.5/32 or 108 29/64 depending on your charting software
10 Year Note: Notes faded most of Thursday posting a narrow range inside day before closing at Wednesdays close. International Trade and PPI at 8:30am ET today will likely set the tone for Notes today either making or breaking Notes with a trip to either the high or low of the week. Notes are oversold and given yesterdays inside day I will continue to use the same trading plan as yesterday. I very much like the idea of accumulating Notes off extreme weakness which would mean a break of last weeks low of 107 11/32 by 8/32 or more. This is of course a position trade not a day trade.
*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 up at the open and after mild selling managed to break out to well above last weeks low as suggested in DATA Morning Call. Today it is reasonable to assume that yesterdays strength will continue in Oil as long as trading above the confluence of the lower .382 and the Pivot with yesterdays high of 63.925 as a minimum profit target and the 4/2 close of 66.050 as an ultimate profit target. Trade with Knowledge! Burr Jennings
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Thursday, April 12th Import/Export 8:30, Nat. Gas Inventory 10:30 ET Today *Check this weeks economic calendar by clicking on: www.econoday.com eSignal Futures Symbols: ES M7 (S&P500), ZN M7 (10 Year Note) and QM K7 (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 the last few DATA Morning Call's, the S&P finally fell out of bed after trading a near identical range the last two sessions. Negative momentum on the daily bars was easily achieved and a continuance appears likely. Today I will continue to pursue the short side as long as trading with resistance below the loose confluence of the Pivot and the lower .382 as highlighted above with 1444.50 as my minimum profit target and 1433.25 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: A rally above Tuesdays high was faded after FOMC minutes were released to create a bearish outside day filling the gap to Mondays close. As bearish as yesterdays price action appears, Notes are oversold and I will continue to pursue the buy side with the same plan as yesterday. Today on either a gap down at the open or a break of 107 11/32 that reverses and finds support above 107 11/32 I will be working only the buy side in Notes looking for a gap fill and positive momentum on the daily bars as my minimum profit target. We have confluence today at the Pivot and yesterdays close. It is reasonable to assume that a retracement to the old weekly low of 107 28.5/32 will occur over the next week or two
*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 traded to either side of Tuesdays range yesterday held down by the lower .214 and straddling the Pivot much of the day creating an outside day. In the month of April we have yet to get an honest positive momentum daily bar (a higher low and a higher high) and we could see that today. We have confluence at the Pivot and yesterdays close to trade against today looking for a break above yesterdays high of 62.575 at a minimum and ultimately a test of last weeks low at 63.625 Trade with Knowledge! Burr Jennings
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Wednesday, April 11th Oil Inventory 10:30, FOMC Minutes 2:00pm ET Today *Check this weeks economic calendar by clicking on: www.econoday.com eSignal Futures Symbols: ES M7 (S&P500), ZN M7 (10 Year Note) and QM K7 (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: Weakness at the open was bought to a new high of only 1 tick before selling off and threatening to post an outside day. The bulls would have none of that and bought the S&P back to the high of the day in the late afternoon. Given that yesterday was nearly an inside day my trading plan will not change today. Given Mondays gap up and now 40 points on the Fib Grid I will be focused only on the short side looking for a break of yesterdays low of 1452.50 minimum and ultimately a return to 1433.25. We again have 2 lines in the sand to short sell against today. Yesterdays high of 1458.25 and last weeks high of 1454.75 which is within 3 ticks of today's Pivot similar to yesterday. FOMC minutes at 2:00pm ET should have considerable influence on Notes today and may offer a rally well above yesterdays high in front of the announcement. I will be shorting this rally especially after the FOMC minutes announcement. Be in the DATA chat room for the latest analysis.
*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 up on Tuesday and rallied to just above the lower .214 before relaxing in to the close. Trading inside of Fridays range I will continue with the same trading plan today in Notes. Today on either a gap down at the open or a break of 107 11/32 I will be working only the buy side in Notes looking for a gap fill and positive momentum on the daily bars as my minimum profit target. We have confluence today at the Pivot and yesterdays close. It is reasonable to assume that a retracement to the old weekly low of 107 28.5/32 will occur over the next week or two. FOMC minutes at 2:00pm ET should have considerable 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 offered a small bounce on Tuesday that was held down by the Pivot in to the close. Today we have confluence with the Pivot and yesterdays close which will likely offer a good level to trade against to the short side with Mondays low of 61.350 as my minimum profit target and 59.70 and 58.850 as ultimate profit targets. Trade with Knowledge! Burr Jennings
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Tuesday, April 10th No Significant Announcements Today *Check this weeks economic calendar by clicking on: www.econoday.com eSignal Futures Symbols: ES M7 (S&P500), ZN M7 (10 Year Note) and QM K7 (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, a gap up at the open was very shortable in the S&P filling the gap to Wednesdays close to the tick in the first hour. A mid-day rally thru the high of the day was ultimately faded back to Thursdays high were the S&P closed. Today we have significant confluence at the Pivot, yesterdays close and Thursdays high which should be an excellent line in the sand to trade against. Given yesterdays gap up and now 40 points on the Fib Grid I will be focused only on the short side looking for a break of yesterdays low of 1452.50 minimum and ultimately a return to 1433.25
*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 flat lined an inside day on Monday as the shock of Fridays Employment report settled in. Given yesterdays inside day my trading plan remains the same today. Today on either a gap down at the open or a break of 107 11/32 I will be working only the buy side in Notes looking for a gap fill and positive momentum on the daily bars as my minimum profit target. We have confluence today at the Pivot and yesterdays close. It is reasonable to assume that a retracement to the old weekly low of 107 28.5/32 will occur over the next week or two.
*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 fell out of bed on Monday nearly $3 suggesting further selling today to fill the old gaps up that have been discussed in previous DATA Morning Call. A gap down today that is below yesterdays low of 61.350 at the open and I will be working the buy side in Oil 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 will likely be sold against the loose confluence of the Pivot and the lower .214 as highlighted above with yesterdays low of 61.350 as my minimum profit target and 59.70 and 58.850 as ultimate profit targets. Trade with Knowledge! Burr Jennings
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Monday, April 9th No Significant Announcements Today *Check this weeks economic calendar by clicking on: www.econoday.com eSignal Futures Symbols: ES M7 (S&P500), ZN M7 (10 Year Note) and QM K7 (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: Weakness at the open was bought on Thursday to new monthly highs in front of Fridays Employment report. Fridays report was bullish for equities and today it is reasonable to assume that we will get a gap up at the open in the S&P. If that is the case I will be focused only on the short side looking for a gap fill and negative momentum on the daily bars as a minimum profit target. Given the 3-day holiday weekend and lack of additional economic announcements we may have to be patient for the market to relax Tuesday or Wednesday of this 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 selling on Thursday and simply imploded off Fridays Employment report to trade as low as 107 11/32. This will likely produce continued selling and perhaps a gap down in Notes today. If that is the case I will be focused only on the buy side in notes as they are now extremely oversold and as suggested in DATA Morning Call over the last week or so I have not been interested in the buy side until a new oversold condition existed. Today on either a gap down at the open or a break of 107 11/32 I will be working only the buy side in Notes looking for a gap fill and positive momentum on the daily bars as my minimum profit target. It is reasonable to assume that a retracement to the old weekly low of 107 28.5/32 will occur over the next week or two.
*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 to build a base on Thursday as Wednesdays low was broken by only 1 tick given concerns of U.S. distillates inventory. Thursdays price action suggests a test of last weeks high and perhaps a fill of the gap down from last Tuesday at 66.050 before resuming selling and filling the gap up from to the 3/27 close. Today we have confluence at the lower .214 and the Pivot as well as Thursdays close which should offer a good line in the sand to trade against today. 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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