| 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, April 20th No Significant Economic 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 M7 (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 gap down at the open was bought to ultimately close at Wednesdays close and the upper .382 of the Fib Grid. The S&P is developing an inverted pennant producing lower lows and higher highs as can be seen in the chart above. The past 2 gaps down are not encouraging for short sellers as they have both been aggressively bought off bad news. Today, if trading with support above the upper .382 of 1479.50 it is reasonable to assume we will see a new high on the week. A gap up at the open and I will be aggressively short selling 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: Notes continued to rally yesterday but as suggested in DATA Morning Call began to run out of gas and closed down on the day. Today it is reasonable to assume that Notes will continue to sell as long as trading with resistance below the confluence of the upper .214 and the Pivot above which all bets off the short 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 continued selling yesterday but reluctantly suggesting a short-term bottom may be near. Today use the confluence of Wednesdays low and the Pivot as a line in the sand to trade against. Momentum is still negative and relative strength still weak, but after 4 consecutive days of negative momentum on the daily bars it is reasonable to assume that a relief rally is in the near future. Above 63.525 and all bets off the short side in Oil. A gap down at the open that is well below yesterdays low and Oil is a buy as long as trading above the open. Trade with Knowledge! Burr Jennings
_____________________________________________________________________
Thursday, April 19th Jobless 8:30, Leading Indicators 10:00, Nat. Gas Inventory 10:30, Philly Fed Noon 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 M7 (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 gap down at the open offered a break of Tuesdays low only to be bought to well above Tuesdays high posting an outside day. As can be seen in the chart above the S&P could not maintain levels above Tuesdays high and retreated in to the close. Today we have loose confluence with the upper .382, the Pivot and yesterdays close as my line in the sand to trade only the short side against. Breaks above yesterdays high of 1484.50 that cannot maintain above that level should be shorted as well. Look for a break below yesterdays low of 1473.50 as a minimum profit target and a gap fill to 1461.50 as an 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 session 108 145/320 = 108 14.5/32 or 108 29/64 depending on your charting software
10 Year Note: Notes continued to rally yesterday easily surpassing my minimum profit target. Today it is reasonable to assume that Notes will start running out of gas. The buy side is becoming exhausted and it is time to book profits in Notes if you have not already. A gap up at the open above yesterdays high and the short side will be favored as long as trading below the open with 107 6/32 as an 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 quietly broke the low of the week yet remained range bound for most of the day. With negative momentum on the daily bars the short side is favored as long as trading with resistance below the Pivot and the lower .214 as highlighted above. Look for a potentially large move in excess of $1 to the downside if this level holds resistance. Above confluence and all bets off to the short side. Today we roll to the June contract (QM M7) as the May contract expires at today's close. Trade with Knowledge! Burr Jennings
_____________________________________________________________________
Wednesday, April 18th Oil Inventory 10:30am 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: A gap up at the open suggested another shorting opportunity yesterday as a new 52 week high was posted in the S&P and Dow. Today my trading plan will not change. My focus today will be only to the short side with a gap fill to Fridays close of 1461.50 as my minimum profit target. We do not have any economic announcements to influence direction today so the market will likely look to earnings announcements. A break above yesterdays high of 1482.75 and I will look for the S&P to relax and offer resistance below 1482.75 to short sell against. We also have confluence at the Pivot and yesterdays close. Weakness at the open that offers resistance below 1479.00 should be sold short. Again, my focus will be only to the short side until this high probability gap fills.
*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 higher yesterday offering us the first honest capitulation of momentum on the daily bars since last month. Today it is reasonable to assume that Notes will continue to rally as long as support is offered at or above the Pivot which shares confluence with the upper.214 (a powerful combination) as highlighted above. Look for a move up to 107 28/32 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 market
Crude Oil: Oil gained strength in the pre-market breaking above Mondays high as well as last weeks high before turning tail and retracing the majority of the Fib Grid before closing negative. This leaves us with a similar confused set-up as yesterday in that Oil now has positive momentum on the daily bars but closed with low relative strength. Today begins the roll to the June contract (QM M7) as the May expires tomorrow.
Trade with Knowledge! Burr Jennings
_____________________________________________________________________
Tuesday, April 17th CPI and Housing Starts 8:30, IPCU 9:15, State St. Investor Confidence 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: A strong gap up at the open yesterday left a gap on the weekly bars in to new 52 week high territory signaling an aggressive short selling opportunity. The open was the low of the day as the rally continue another 10 points higher. My focus today will be only to the short side with a gap fill to Fridays close of 1461.50 as my minimum profit target. We have a number of pre-market economic announcements that should influence direction today as well as important earnings announcements. A break above yesterdays high of 1477.25 and I will look for the S&P to relax and offer resistance below 1477.25 to short sell against. Again, my focus will be to the short side until this high probability gap fills.
*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 last weeks low and then found support to the tick at the previous weeks low of 107 11/32 before turning higher and closing strong on the day. Today it is reasonable to assume that yesterdays strength will continue but economic announcements at 8:30 and 9:15am ET will likely have a major impact on price action. Expect support today at or above 107 11/32 (which is also 3 ticks from the Pivot) to buy against in Notes below which all bets off 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 broke Fridays low yesterday only to rebound and close at the same level as Friday. Today the short side is favored as long as trading below the confluence of the upper .382 and yesterdays close. Look for a return to the 4/11 close of 61.975 and ultimately a break of last weeks low of 61.35. We have negative momentum on the daily bars but high relative strength at the close - a mixed signal. Trading with support above 63.625 and all bets off the short side in Oil.
Trade with Knowledge! Burr Jennings
_____________________________________________________________________
Monday, April 16th Retail Sales and Empire State Mfg. 8:30, Business Inventories 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: Strength at the open was sold to the upper .382 posting the low of the day and rallying through the high of the week and closing within a tick of the high suggesting a significant shorting opportunity. Today it is reasonable to assume that Fridays strength will continue but be aware the S&P is overbought at Fridays close. A gap up at the open that is above last weeks high should be aggressively sold short as long as trading below the open with a gap fill and negative momentum on the daily bars as a minimum profit target. Weakness at the open should be bought as long as trading above the upper .214 of 1457.50 with Fridays high of 1461.75 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 session 108 145/320 = 108 14.5/32 or 108 29/64 depending on your charting software
10 Year Note: Notes initially rallied and then imploded off economic announcements on Friday and as suggested in DATA Morning Call the low or the high of the week would be broken. Over the next two sessions we have economic announcements that should rock Notes a bit more. I am looking for buying opportunities in Notes at these depressed levels. We could easily see S2 today at 107 1/32 which should be a fine area to once again consider a position trade to the buy side. A break below last weeks low that rallies and finds support above 107 8/32 is also likely a good buy 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 opened higher and posted a continuation of momentum on the daily bars before relaxing in to the close on Friday breaking above the 4/9 high affording a new Fib Grid today. Today the buy side will continue to be favored as long as trading above the Pivot and the upper .214 with Fridays high of 64.350 as a minimum profit target and the 4/2 close of 66.050 as an ultimate profit target.
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.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
