| 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, June 29th Personal Income 8:30, NAPM Chicago 9:45, Construction Spending and Consumer Sentiment 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 Q7 (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 bullish drift took the S&P well above Wednesdays high yesterday before closing at the low of the day after a relatively uneventful FOMC announcement. If yesterdays weakness at the close follows through and breaks yesterdays low of 1516.75 the short side will be favored as long as resistance is maintained below the confluence of the upper .214 and the pivot at 1520.75 as highlighted above. Strength that maintains support above confluence will likely be bought to above yesterdays high of 1528.00 minimum. Today's economic announcements will have an effect on the market.
*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 pulled in Thursday as suggested with nothing from the FOMC announcement to rally about. Notes will continue to favor the short side today as long as trading with resistance below the confluence of the lower .214 and the pivot as highlighted above with a gap fill to the 6/22 close of 104 31.5/32 as a minimum profit target. Trading above yesterdays high of 105 13.5/32 and the buy side will once again be favored as long as trading with support above confluence with 105 27.5/32 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 gapped up and posted a new June high yesterday clearing well above all profit targets. It is time to leave oil alone and wait for the daily bars to relax with negative momentum before once again focusing on the buy side. Trade with Knowledge! Burr Jennings _____________________________________________________________________
Thursday, June 28th Corp. Profits and GDP 8:30, FOMC 2:15pm 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 Q7 (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 aggressively bought especially in the afternoon on Wednesday with the anticipation of a tame FOMC announcement today. Yesterdays rally will likely follow through today trading above yesterdays high. Support yesterday afternoon was posted at the 6/7 low of 1502.25 and 1513.50 last weeks low. Today we have loose confluence at the upper .382 and the pivot. I would expect support to come in well above that if the bull is intact today. 8:30am ET economic announcements will have an impact on the open. A gap up at the open and I will leave trading to those smarter than me. Weakness at the open will likely lead to a bullish drift if not an outright rally with yesterdays high of 1520.25 as a minimum profit target. It is best to be flat (no position on) at the 2:15 FOMC announcement. Look for trend to develop by 2:45pm ET.
*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 at the open on Wednesday in response to the early selling in equities but as the equity indexes recovered, Notes faded and are likely to continue that fade and fill the gap today. The 2:15pm ET FOMC announcement will probably not have any good news for Notes and given the buy side is a over cooked as yesterdays gap up demonstrated, the short side is likely favored today. With confluence at the upper .214 and yesterdays close and the pivot not far from either, we have a good line in the sand to trade against 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: A gap down in oil was scooped up by the bulls after the oil inventory report posting an outside day off more than $2 of range. Today it is reasonable to assume yesterdays strength will follow through as long as support exists above the confluence of the upper .382 and the pivot as highlighted above with 69.875 as a minimum profit target. Trade with Knowledge! Burr Jennings _____________________________________________________________________
Wednesday, June 27th Durable Goods 8:30, Oil Inventory 10:30, 5-Year Note 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 Q7 (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 selling yesterday with resistance against confluence that sent prices well below Mondays low and ultimately thru 1502.25 as an 8 point sell-off after the cash close left the S&P at a steep discount. After 5 days of selling I will look to buy the S&P today especially off a gap down at the open that is below yesterdays low as long as trading above the open with the 4:00pm close of 1505.50 as a minimum profit target and positive momentum on the daily bars as an ultimate target. With the FOMC decision on interest rates Thursday at 2:15pm ET, look for an afternoon rally today as traders start to buy in front of the announcement as they often do the day before.
*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 a tick higher before retreating on Tuesday as concerns over economic announcements the balance of this week stalled the rally. Durable Goods and the 5-Year Note auction will have influence on notes today. Notes are bullish as long as trading above the loose confluence of the upper .214 and the pivot with 105 27.5/32 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 gave back Mondays gains yesterday posting an inside day. Oil is not sure what it wants to do as the last 5 or 6 sessions has seen a broad range bound roller coaster ride. Trading above the loose confluence of the lower .214 and the pivot and oil is a buy today. Be aware that the Oil Inventory report is at 10:30am ET today. Trade with Knowledge! Burr Jennings _____________________________________________________________________
Tuesday, June 26th Consumer Confidence and New Home Sales 10:00, 2-Year Note 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 Q7 (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 S&P broke last weeks low early in the morning session only to rally substantially until an afternoon sell-off broke through the minimum profit target of 1506.50 before closing at last Fridays low. The S&P continues to pursue the ultimate profit target of 1502.25 which may occur early today as long as trading with resistance against the confluence of the lower .214 and the pivot as highlighted above. A gap down at the open that is below yesterdays low will likely be bought. Keep in mind that we have now had 4 consecutive days of selling and will be due for a bounce if not an outright rally in front of Thursdays FOMC announcement. 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 up at the open and ultimately found support at the upper .214 before rallying further easily breaking above my minimum profit target. Today, as long as trading above the loose confluence of the upper .214 and the pivot, the buy side will be favored with 105 27.5/32 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 gapped down at the open and broke last weeks low by a dime before posting a strong rally 80% of the way back to last weeks high. Today look for yesterdays strength to follow through with a break above last weeks high of 69.950 as an ultimate profit target. Reasonable confluence is missing today and should Oil open lower, the open should be a good line in the sand to trade against. Trade with Knowledge! Burr Jennings _____________________________________________________________________
Monday, June 25th Existing Home Sales 10am 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 Q7 (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: Last weeks price action once again leaves the cash S&P ($SPX) at the 50 day moving average at Fridays close. This is critical given we have had 3 or 4 tests of the 50 day MA that have held and if the S&P breaks below Fridays low we may see the summer correction come to fruition as the 200 day moving average, which has not been hit since last summer, resides 75 points lower. That said, the last 2 weeks have been inside weeks and negative momentum on the daily bars suggests we see a break below Fridays low posting negative momentum on the weekly bars. This assessment is only valid today if trading with resistance below the confluence of the lower .214 and the pivot as highlighted above with 1506.50 as a minimum profit target. Later this week we have important economic announcements to consider including the all-important FOMC decision on interest rates on Thursday which we can expect bullish price action by Wednesday afternoon. 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 completed a test of the previous weeks low on Friday and closed near the high of the day suggesting a rally could follow through today. Look for support above the confluence of the lower .382 and the pivot as highlighted above to buy against with last weeks high of 105 8.5/32 as a minimum target and 105 27.5/32 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 posted an inside day on Friday after an impressive rebound Thursday from Wednesdays selling due to Oil Inventory. The pressure and momentum is clearly still favoring buyers and if trading with support above the upper .382 and the pivot, Oil is a buy today with last weeks high of 69.950 as a minimum profit target. Oil has rolled to the August contract QM Q7. 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.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
