| 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 27th ECI and GDP 8:30, Consumer Sentiment 10:00am 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: Support at confluence lead to a new high on the week in the S&P yesterday with as much as 3 points of premium over the cash market in to the close which normally suggests a short bias. Today we have ECI and GDP at 8:30am ET which will likely define the balance of the day. S&P's are over cooked at these levels and are due for a retracement. A gap up at todays open that is above yesterdays high of 1504.50 and I will be aggressively working the short side as long as trading below the open with a gap fill and negative momentum on the daily bars as a minimum profit target. Given the premium at yesterdays close, weakness at the open may not necessarily be bought and a break of yesterdays low would suggest a minimum profit target of 1480.25
*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 continued to slip lower on Thursday and today we should expect the same as long as trading below the confluence of the lower .214 and the Pivot as highlighted above. We have ECI and GDP at 8:30am ET which will likely dictate the price action for the balance of the day. As suggested in yesterdays DATA Morning Call, if the rally in equities continues as it is suggesting, Notes at some point should wake up to the fact that an interest rate cut will not be coming this year and selling will likely continue.
*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: Weakness at the open was bought yesterday to my minimum profit target whereupon Oil was sold through confluence and the low of the day. Oil continues to act richly priced above $66 and may be due for a pullback. Momentum is still positive and if Oil can maintain support above today's Pivot which is identical to yesterdays Pivot the rally will likely resume to a new high on the week. A break of yesterdays low and the short side will be favored as long as trading with resistance below the Pivot of 65.450 with 64.10 as a minimum profit target. Trade with Knowledge! Burr Jennings
_____________________________________________________________________
Thursday, April 26th Jobless 8:30, Natural Gas Inventory 10:30, 5-Year Note Auction 1:00pm 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 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 up at the open favored the short side in the S&P on Wednesday. Similar to Tuesday though, support was found at the open and a rally took the S&P to a new 52 week high. Today it is reasonable to assume that yesterdays strength will continue to follow through if weakness finds support at the loose confluence of the upper .214 and the Pivot for yet another new high. A gap up at the the open and I will be working the short side as long as trading below the open. My primary focus in the S&P remains to the short side with 1461.50 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 session 108 145/320 = 108 14.5/32 or 108 29/64 depending on your charting software
10 Year Note: Notes ran out of gas on Wednesday posting negative momentum on the daily bars but with little conviction. Today as long as trading below the confluence of the lower .382 and the Pivot the short side is favored with 107 26/32 as a minimum profit target and 107 5.5/32 as an ultimate profit target. If the rally in equities continues as it is suggesting, Notes at some point should wake up to the fact that an interest rate cut will not be coming this year and selling will likely resume.
*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: Support at Tuesdays close lead to a rally that tested the high of the week closing well above the upper .214 yet posting an inside day. Oil still maintains positive momentum on the daily bars and with yesterdays high relative strength close, look for strength to continue as long as trading above the loose confluence of the upper .214 and the Pivot with the Fib high of 66.30 as a minimum profit target. Below confluence and all bets off the buy side. Trade with Knowledge! Burr Jennings
_____________________________________________________________________
Wednesday, April 25th Durable Goods 8;30, New Home Sales 10:00, Oil Inventory 10:30, 2-Year Note Auction 1:00, Beige Book 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 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: Strength at the open yesterday was sold to my minimum profit target of last Thursdays close whereupon a fresh rally took the S&P through the high of the day and closed above Mondays low suggesting the bulls have yet to throw in the towel. Today we have important economic announcements pre-market and Beige Book at 2:00pm ET which will likely define the balance of the day. Trading above 1491.25 and we have a capitulation to positive momentum on the daily bars from the current negative momentum that will likely post a new high on the week. Trading with resistance below the loose confluence of the lower .382 and the Pivot as highlighted above and we should see a break of yesterdays low and a move down to 1471.00 minimum. My primary focus in the S&P remains to the short side with 1461.50 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 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 Tuesday easily breaking the high of last week off the 10am ET economic announcements. Today it is reasonable to assume that Notes will trade higher, but with significant economic announcements including Beige Book at 2pm ET look for the confluence of the upper .214 and the Pivot as highlighted above to offer support to continue buying in Notes. As suggested in yesterdays DATA Morning Call the buy side probability has diminished so keep a tight stop and look to buy the next significant pullback. A gap up at the open that is above the Fib high and the short side will be favored as long as trading below the open with a gap fill and 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 broke above Mondays high as expected yesterday but then could not maintain support above confluence and fell out of bed. Today it is reasonable to assume that yesterdays selling will continue as long as trading with resistance at or below the confluence of the upper .382 and the Pivot as highlighted above with yesterdays low of 64.10 as a minimum profit target and last weeks low of 63.05 as an ultimate target. Trade with Knowledge! Burr Jennings
_____________________________________________________________________
Tuesday, April 24th Consumer Confidence and Existing Home Sales 10:00am 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: Weakness at the open was bought through last weeks high only to be faded in to the close as suggested in DATA Morning Call and chat room. Today I will look for this weakness to continue with a gap fill back to Thursdays close of 1480.50 as my minimum profit target and 1461.50 as my ultimate target. Today we have confluence at the upper .214 and the Pivot (a powerful combination) as highlighted above. Look for resistance at or below this level to resume selling.
*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 opened higher and tested Fridays low before rallying to test the Fib high and closing just off the upper .214. Today it is reasonable to assume that yesterdays strength will continue to follow through as long as support is offered at or above the confluence of the upper .382 and the Pivot as highlighted above with last weeks high of 108 7.5/32 as a minimum profit target. As suggested in yesterdays DATA MC, probability to the buy side is not as high as it was last week and without significant economic announcements until Wednesday Notes may be a bit tight today. A gap up at the open that is above the Fib high and the short side will be favored as long as trading below the open with a gap fill and 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 opened higher on Monday and put in a strong rally that closed at the high of the day easily surpassing my minimum profit target of $65. Today it is reasonable to assume that strength will continue with 66.50 as a minimum profit target and 68.20 as an ultimate target. Look for support at or above the confluence of the upper .214 and the Pivot to buy against below which all bets off the buy side. Trade with Knowledge! Burr Jennings
_____________________________________________________________________
Monday, April 23rd 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: Another new 52 week high gap up on Friday signaled a shorting opportunity which paid nicely to the Fib High whereupon buyers once again took the S&P to a new high on the day and year. Today and this week I will be focused on nothing but the short side in the S&P with Thursdays close of 1480.25 as my minimum profit target and the 4/13 close of 1461.50 as my ultimate profit target. Fridays close is also the high of last week, an excellent line in the sand to short sell against. It is important to remember: gaps up above the previous weeks high in to new 52 week high territory fill!! We now have 2 of them!!! The probability of outcome is very high so do not flip flop or procrastinate this week as my ultimate profit target is now more than 30 points from 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 session 108 145/320 = 108 14.5/32 or 108 29/64 depending on your charting software
10 Year Note: Notes faded on Friday posting negative momentum on the daily bars but with little conviction closing at the upper .214 a tick above Thursdays close. Today we have confluence at the new lower .382 , the Pivot and Fridays close as our line in the sand to trade against. Probability is not high here and without any significant economic announcements until Wednesday Notes could go either way suggesting opportunity may wait for another 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 market
Crude Oil: Oil defended Thursdays low and managed a lack luster rally that could not break above Thursdays high posting an inside day but did close near the high of the day. Today we have confluence of the lower .214 and the Pivot as highlighted above and as long as trading with support above this level the buy side will be favored. Look for positive momentum to return to the daily bars and a move to $65 minimum. 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.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
