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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, June 15th CPI 8:30, IPCU 9:15,Consumer Sentiment 10:00am ET Today Burr Jennings and the Direct Access Trading Academy will be on vacation next week. Morning Call will be available only on Monday. The DATA chat room and administrative office will be open should you need any assistance. Regular business will resume on Monday, June 25th. *Check this weeks economic calendar by clicking on: www.econoday.com eSignal Futures Symbols: ES U7 (S&P500), ZN U7 (10 Year Note) and QM N7 (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: Pre-market economic announcements sent the S&P higher yesterday confirming Wednesdays breakout and capitulation to positive momentum on the daily bars. Today we have CPI and IPCU pre-market which may push the S&P higher. Today is also quadruple witching with the simultaneous expiration of options and futures on the same day. Today's Pivot shares loose confluence with yesterdays close but is also less than 4 points from yesterdays high. Today is a bit of a wild card with a gap up at the open that is above yesterdays high signaling a short selling opportunity as long as trading below the open. Weakness should be bought as long as sup exists above the pivot with yesterdays high of 1542.00 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 finally posted an honest day of positive momentum on the daily bars yesterday. That momentum was limited as the close was well below Wednesdays high. Today look for the loose confluence of the pivot and yesterdays close to offer support to buy against with Mondays close of 104 27.5/32 as a minimum profit target. With quadruple witching today and important economic announcements just about anything can happen.
*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 DATA Morning Call, Oil continued its advance yesterday breaking through our ultimate profit target. I am no longer interested in the buy side at these levels. Let Oil pullback on the daily bars before attempting to once again get positioned long. For intra-day scalpers, support above the confluence of the upper .214 and pivot as highlighted above may still be good for a breakout of yesterdays high of 67.90 Trade with Knowledge! Burr Jennings _____________________________________________________________________
Thursday, June 14th Jobless and PPI 8:30, Quarterly Services 10:00am ET Today *Check this weeks economic calendar by clicking on: www.econoday.com eSignal Futures Symbols: ES U7 (S&P500), ZN U7 (10 Year Note) and QM N7 (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 yesterday maintained support at confluence that led to an afternoon rally prompted by the 2pm Beige Book announcement that drove the S&P above the high of the week closing strong suggesting more buying today. Today the buy side will be favored as long as trading with support above the pivot. With pre-market economic announcements today, the S&P should be lively especially if Notes and Bonds are affected significantly.
*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 posted a strong gap down at the open that was bought in to after the 8:30am economic announcements to ultimately close at the high of the day. Today it is reasonable to assume that Notes find continued support and rally to well above yesterdays high creating a new Fib Grid for the first time in a month. Look for support at or above confluence at the pivot and Tuesdays low with a gap fill to Mondays close at 104 27.5/32 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 held resistance at confluence until the Oil Inventory report at 10:30 led to a sharp rally that broke above last Fridays high but did not fill the gap to last Thursdays close. Today look for support at or above the loose confluence of the upper .382 and the Pivot with a break above last weeks high of 67.425 as an ultimate target. Trade with Knowledge! Burr Jennings _____________________________________________________________________
Wednesday, June 13th Import/Export and Retail Sales 8:30, Business Inventories 10:00, Oil Inventory 10:30, Beige Book 2:00pm ET Today *Check this weeks economic calendar by clicking on: www.econoday.com eSignal Futures Symbols: ES U7 (S&P500), ZN U7 (10 Year Note) and QM N7 (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 led to a rally to just above Mondays close before selling resumed as treasuries broke the low of the day sending interest rates to new 2007 highs. Today we will likely see more of the same as pressure in Notes and the Bond continue to affect equities. Look for resistance at or below the confluence of the lower .214 and the pivot to short against with a break of last weeks low of 1502.25 as a minimum profit target. Above confluence and all bets off the short side. The next 3 days offer important economic announcements that will likely move the market as well 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 session 108 145/320 = 108 14.5/32 or 108 29/64 depending on your charting software
10 Year Note: Notes gapped down at the open and continued their slide yesterday testing the pre-market low from last Friday and the 2006 low. Notes are under unprecedented pressure that clearly suggests a large fund is long and wrong, systematically liquidating with every new low down tick. Yesterdays close suggests more selling today and a gap down at the open that is below yesterdays low and we may see the final exhaustion that is worth buying. If buying a gap down be sure to only buy when trading above the open. Look for a violent rally in Notes good for 1 to 2 full points.
*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 posted an inside day yesterday leaving us with the same Fib Grid and trading plan for today as yesterday. Today look for the confluence of yesterdays close and today's pivot to trade against as highlighted above with a break above Fridays high of 66.40 as a minimum profit target and a break above last weeks high of 67.425 as an ultimate target. Trade with Knowledge! Burr Jennings _____________________________________________________________________ Tuesday, June 12th 10 - Year Note Auction 1:00pm ET Today *Check this weeks economic calendar by clicking on: www.econoday.com eSignal Futures Symbols: ES U7 (S&P500), ZN U7 (10 Year Note) and QM N7 (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 its march higher yesterday with an anticipated recovery in the treasury market that never came which sent prices lower in to the close. Today we will likely see lower prices in the S&P if Notes cannot recover from last weeks selling. With confluence at the pivot and yesterdays close as well as the lower .382 and Fridays high of 1524.00 nearby we have a good line in the sand to trade against today. Look for a test, if not a break, of last weeks low of 1502.25 if Notes fall out of bed and confluence holds resistance in the S&P. Given that Friday was an inside day and that yesterday was still trading inside Thursdays range we are using the same Fib Grid today as yesterday.
*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 posted a relatively quiet inside day on Monday suggesting buyers are not yet ready to swoop in and save the day. Today we could see a test of last Fridays low of 104 16.5/32 at which point look for support and a potential rally in Notes. We have a good line in the sand to trade against today with the confluence of the pivot and yesterdays close above which the buy side will be favored with positive momentum on the daily bars and a gap fill to Thursdays close at 105 2.5/32 as a minimum profit target and 105 27/32 as an 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 market
Crude Oil: Oil tested Fridays low and rebounded nicely with a strong close yesterday. Today look for yesterday strength to follow through as long as trading with support above the loose confluence of the lower .382 and the pivot as highlighted above with a break above Fridays high of 66.40 as a minimum profit target and a break above last weeks high of 67.425 as an ultimate target. Trade with Knowledge! Burr Jennings _____________________________________________________________________
Monday, June 11th No Significant Announcements Today *Check this weeks economic calendar by clicking on: www.econoday.com eSignal Futures Symbols: ES U7 (S&P500), ZN U7 (10 Year Note) and QM N7 (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: Significant pre-market selling in both Notes and the S&P led to a rally that closed just below the high of the day at Fridays lower .382 posting an inside day. Today we still have negative momentum on both the daily and weekly bars although Fridays strength threatens to capitulate momentum back to positive on the daily bars. With no significant economic announcements today, traders will be looking for a recovery in Notes to help calm concerns over increased interest rates. Today could be a tricky day. Be in the DATA chat room for the latest real-time 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 down again on Friday signaling another buy opportunity but this time able to maintain above the open. Today look for Fridays strength to follow through posting positive momentum on the daily bars with a gap fill to Thursdays close at 105 2.5/32 as a minimum profit target and 105 27/32 as an 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 market
Crude Oil: Oil fell out of bed on Friday and will likely favor the short side today as long as trading below the loose confluence of the lower .214 and the pivot. Look for a break of last weeks low of 64.575 as a minimum profit target to the short side and 62.45 as an ultimate 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.
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