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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, July 13th Import/Export Prices and Retail Sales 8:30am, Business Inventories 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: Wow. The biggest move up in the equity markets in 4 years yesterday. In July no less. Short sellers were squeezed hard yesterday as buyers forced them to cover or offset the entire day. The S&P is as parabolic as it has ever been historically and it is reasonable to suggest that further ascent will be a struggle. With important economic announcements pre-market we could potentially see a gap up at the open which would be a short opportunity as long as trading below the open with a gap fill to yesterdays close as a minimum profit target and negative momentum on the daily bars or a return to confluence of the upper .214 and the pivot as highlighted above as an ultimate target. Weakness at the open will likely be bought with yesterdays high of 1559.00 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 suffered yesterday as equities became the rage and a chance for an interest rate reduction slipped further down the calendar. Today the short side will be favored as long as trading below the lower .214 and the pivot (a powerful combination) with a gap fill to Mondays close of 104 27/32 as a minimum profit target and the Fib low of 104 17.5/32 as an ultimate target. Economic announcements at 8:30am ET will likely have a significant impact on directional bias 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 up in Oil signaled a short opportunity yesterday and by afternoon Oil delivered posting an outside day that closed unchanged. Oil is long overdue to relax and yesterdays price action is likely the beginning of a more significant correction back towards $70. Today we have loose confluence at the lower .382, the pivot and yesterdays close an area that if offers resistance we could see the low of the week at 71.80 broken. Oil is enjoying a bull run and the inevitable pullback will likely be bought. As a buyer it is a time to be patient and let that unfold. Trade with Knowledge! Burr Jennings _____________________________________________________________________
Thursday, July 12th International Trade and Jobless 8:30am 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 bought on Wednesday ultimately right in to the close as traders want to be long in front of today's economic announcements. There is a very good chance we get a capitulation to positive momentum on the daily bars today and if so the buy side will be favored as long as trading with support above the loose confluence of the lower .382 and the pivot as highlighted above with a gap fill to Mondays close of 1542.50 as a minimum profit target and 1545.75 as an ultimate target. Should the 8:30am ET announcements disappoint then negative momentum on the daily bars will be intact and as long as trading with resistance against confluence the short side will be favored with a minimum profit target of 1515.50
*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 yesterdays open only to retreat as equity indexes grew stronger throughout the day. As much as S&P traders want to be long in front of today's economic announcements, traders of Notes took a defensive position. Should Notes gather up some steam and trade above the loose confluence of the upper .214 and the pivot we should see a break above yesterdays high and ultimately 106 1/32. Trading below yesterdays low we should see a gap fill to Mondays close of 104 27/32 and ultimately a break of last weeks low of 104 17.5/32
*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 Wednesday ultimately straddling confluence most of the day. Todays trading plan remains the same as yesterday given the inside day. The buy side is favored today as long as trading above the confluence of the upper .382 and the Pivot. Be aware that the last couple of days have only broken higher by a couple of ticks and a move much beyond R2 at 73.550 may be unlikely until a more significant pullback exists. Trade with Knowledge! Burr Jennings _____________________________________________________________________
Wednesday, July 11th Oil Inventory 10:30am 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 rebounded to Mondays low before selling off in the afternoon easily surpassing our profit targets as defined in yesterdays DATA Morning Call. Today the short side will still be favored as long as trading below the loose confluence of the lower .214 and the Pivot as highlighted above with a minimum profit target of 1515.50 and an ultimate target of 1504.50 and 1494.50 the latter of which may take a few days.
*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 well above bearish territory at the open and rallied to close at the high of the day. Today the buy side will be favored as long as trading above the loose confluence of the upper .214 and the pivot as highlighted above with 106 1/32 as an ultimate profit target. Buying may be more aggressive if the S&P falls out of bed more than 10 points 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: The bulls roared back in Oil yesterday as a test of Mondays low blew threw resistance for a new high on the week. The buy side is favored today as long as trading above the confluence of the upper .382 and the Pivot. Be aware that the last two days have only broken higher by a couple of ticks and a move much beyond R1 at 73.30 may be unlikely until a more significant pullback exists. Oil Inventory at 10:30am ET will likely have a significant impact on today's market. Trade with Knowledge! Burr Jennings _____________________________________________________________________
Tuesday, July 10th Wholesale Trade 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: A small gap up at the open yesterday led to a 4 tick break above Fridays high before a test of confluence as defined in DATA Morning Call offered support for an afternoon rally that closed unchanged from Friday. Today we have confluence at the upper .214 and the pivot which is within 2 ticks of yesterdays close. The S&P is due for some selling and this is a perfect line in the sand to short sell against with yesterdays low of 1538.00 as a minimum profit target and the 6/29 close of 1515.50 as an ultimate target. Trading above confluence and all bets off the short side as the buy side will still be favored.
*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 quiet inside day on monday. Today look for the confluence of the lower .214 and the pivot as well as yesterdays close to offer a good line in the sand to trade against. The short side is still favored with 104 16/32 as a minimum profit target. Trading above confluence and 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 broke above last weeks high by 2 ticks and retreated to fill the gap back at last Thursdays close as suggested in DATA Morning Call. Today look for selling to continue as long as trading below the loose confluence of the lower .382 and the pivot as highlighted above with 70.80 as a minimum profit target Trade with Knowledge! Burr Jennings _____________________________________________________________________
Monday, July 9th 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 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 quick dip in the first half hour was met with steady buying throughout the balance of the day Friday to close at a new high on the week. With momentum positive on the weekly bars the S&P is gunning for the 6/20 high of 1554.25 only 10 points above Fridays high. Today the buy side is favored as long as trading with support above the confluence of the upper .382 and the pivot as highlighted above. That said it has been over a week since the S&P has had a honest pullback that posted both a lower low and a lower high which will likely come today or tomorrow. Economic announcements are light this week and earnings are beginning to roll in so a bumpy ride should be expected.
*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 crater on Friday as equities surged coming just short of our profit target at 104 16/32. Today look for resistance in the area of loose confluence of fridays close and the pivot as highlighted above with 104 16/32 as a minimum profit target. Notes are heavy but all bets off the short side above confluence as they are also quite oversold at these levels.
*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 on Friday just kissing the underside of $73 before retreating and ultimately closing strong on the day. I like the buy side in Oil as trend is clearly up, but price is highly overextended here and a pullback on the daily bars is necessary to get excited about initiating a new long position. Probability is very high that the gap to Thursdays close of 71.825 will fill. 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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