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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 27th GDP 8:30, 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 U7 (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 suggested working the buy side yesterday but as positive momentum and new highs on the day faded to below the open, all bets came off the buy side as sellers took control and punished the S&P up until the close of the treasuries at 3pm whereupon the bulls came back with a 20+ point rally that closed well off the high of the afternoon session. Today the short side will still be favored as long as trading with resistance below the confluence of the lower .214 and the pivot as highlighted above with 1471.00 as a minimum profit target, 1461.00 and 1455.00 as ultimate targets. Yesterdays price action broke the June and May lows creating an outside month for the S&P. A gap down at the open and the buy side will be favored as long as trading with support above the open with yesterdays high of 1514.75 as a minimum profit target. Trading at or above the June low of 1494.50 with support and the buy side will also likely 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: Extreme weakness in equities saw a flight to treasuries on Thursday as Notes had a big day off a gap up that gives our Fib Grid nearly 3 points of spread from high to low. Notes are crazy overbought at yesterdays close and when the S&P comes to its senses and rallies, Notes will likely find themselves back at Wednesdays close or lower. A gap up at today's open 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. Weakness at the open that maintains support above the upper .214 of 107 1.5/32 will likely be bought to yesterdays high of 107 20.0/32 whereupon further ascent will more than likely be a struggle for 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: A gap up at the open signaled a short selling opportunity yesterday that sold off hard in the afternoon leaving over $2.50 of range on the day. Today the short side will still be favored as long as trading with resistance below the upper .382 and the pivot as highlighted above with yesterdays low of 74.60 as a minimum profit target. Trading above confluence and all bets off the short side in Oil. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Thursday, July 26th Durable Goods and Jobless 8:30, New Home Sales 10:00, 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 U7 (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 led to massive selling that easily broke through our profit targets to the short side. Continued selling in the afternoon led to a double bottom that rallied back to the open before closing just below confluence. Today we once again have confluence at the lower .214 and the pivot and if trading at or below confluence the short side will be favored with yesterdays low of 1510.50 as a minimum profit target and 1504.50 and 1494.50 as ultimate targets. Durable Goods pre-market and earnings may influence the bulls to continue yesterdays late afternoon rally in which case the S&P must be trading above the pivot with Tuesdays high of 1543.75 as a minimum profit target and Mondays close of 1549.00 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 session 108 145/320 = 108 14.5/32 or 108 29/64 depending on your charting software
10 Year Note: Notes rallied to a new weekly and monthly high yesterday helped by an early morning implosion in equities. Today we may see a rebound in the S&P which will likely deflate Notes. Durable Goods at 8:30am ET and a host of earnings announcements will influence price today. We have a line in the sand to trade against at the upper .214 of 106 10/32 below which the short side will likely be favored. A gap up at the open and Notes are a short as long as trading below the open. Support at or above the upper .214 should offer a break above yesterdays high of 106 22/32 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 held support at confluence yesterday and rallied more than $2 to fill the gap to Mondays close and finish at the high of the day. The buy side is favored today as long as trading above the loose confluence of the upper .214 and the pivot with last weeks high of 76.30 as an ultimate profit target. Below 75.00 and all bets off the buy side. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Wednesday, July 25th Existing Home Sales 10:00, Oil Inventory 10:30, 2-Year Note 1:00, 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 U7 (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 substantial gap down at the open offered a rally in the morning and massive selling in the afternoon with the S&P easily eclipsing our ultimate profit target and erasing most of July's gain. Today the short side will still be favored as long as trading below the confluence of the lower .214 and the pivot as highlighted above with 1516.00 as a minimum profit target then 1504.50 and ultimately the June low of 1494.50 a break of which would confirm negative momentum on the monthly bars which now exists on both the weekly and daily bars. A gap down at the open and the buy side will be favored only if trading above the open with a gap fill and positive 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 session 108 145/320 = 108 14.5/32 or 108 29/64 depending on your charting software
10 Year Note: Yesterdays price action was again light but with a bullish bias that saw support at the pivot as Notes posted another day inside of last Fridays range leaving us with the same trading plan today. Today the buy side is still favored as long as trading above the upper .214 of 106 4.5/32 with Fridays high of 106 15/32 as an ultimate profit target. Trading below the upper .214 and all bets off the buy side. Resistance at or below the upper .214 and the short side will likely be favored with a gap fill to 105 23.5/32 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 continued to fall out of bed yesterday as the inevitable selling we have been looking for came to fruition hitting our ultimate profit target to the tick. Today the sell side will still be favored as long as trading with resistance against the confluence of the pivot and the lower .214 as highlighted above with an ultimate profit target of 72.175 which is the 7/5 close. A gap down at the open will likely be a buy as long as trading above the open with a gap fill to Mondays close at 74.90 as a minimum profit target and a break above last weeks high of 76.30 as an ultimate target. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Tuesday, July 24th State Street Investor Confidence 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 U7 (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 offered buying in the morning and selling in the afternoon as the S&P posted an inside day with a weak close. Today our trading plan remains the same except our line in the sand is muted by a lack of confluence. The short side is still favored today and the 10 day exponential moving average which played a significant role in support yesterday at 1548.75 may offer the resistance necessary to continue selling and the negative momentum that currently exists on the daily bars with Fridays low of 1537.25 as a minimum profit target and the 7/11 close of 1531.00 as an ultimate profit target. The pivot at 1551.00 may offer a good line in the sand to buy against should the bulls regain their strength today with Fridays high of 1559.50 as a minimum profit target and last weeks high of 1666.25 as an ultimate target. The week is light on economic announcements but earnings will continue to roll in adding some volatility. After such a tight inside day yesterday - be on the lookout for the potential of an outside day 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 session 108 145/320 = 108 14.5/32 or 108 29/64 depending on your charting software
10 Year Note: Yesterdays price action was light and range bound as Notes posted an inside day leaving us with the same trading plan today. Today the buy side is still favored as long as trading above the loose confluence of the upper .214 and the pivot and yesterdays close as highlighted above with Fridays high of 106 15/32 as an ultimate profit target. Trading below confluence and all bets off the buy side. Resistance at or below confluence and the short side will likely be favored with a gap fill to 105 23.5/32 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 fell out of bed yesterday as the inevitable selling we have been looking for came to fruition. Today the sell side will still be favored as long as trading with resistance against the confluence of the pivot and yesterdays close as highlighted above with an ultimate profit target of 72.90 which is the 7/12 close. Keep in mind, Oil has positive momentum on the monthly and weekly bars and is in a strong bull market. Pullbacks will likely be bought so do not fight against the relative strength as a short seller. Buyers have been patiently waiting for a pullback so all bets off the short side above confluence. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Monday, July 23rd No Significant Economic 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 U7 (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 led to significant selling on Friday that easily broke our ultimate profit target of 1542.50 the 7/18 low. Today we will look for selling to continue as long as trading with resistance below the confluence of the lower .382 and the pivot as highlighted above with Fridays low of 1537.25 as a minimum profit target and the 7/11 close of 1531.00 as an ultimate profit target. Above confluence and all bets off the short side as momentum is still positive on the weekly and monthly bars. The 10 day exponential moving average is 1548.75 which may offer a good line in the sand to buy against should the bulls regain their strength today with Fridays high of 1559.50 as a minimum profit target and last weeks high of 1666.25 as an ultimate target. The week is light on economic announcements but earnings will continue to roll in adding some volatility.
*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: A gap up at the open ripped higher on Friday as equities crumbled and a flight to quality bled in to the treasuries. Today the buy side is still favored as long as trading above the loose confluence of the upper .214 and the pivot as highlighted above with Fridays high of 106 15/32 as an ultimate profit target. Trading below confluence and all bets off the buy side. Resistance at or below confluence and the short side will likely be favored with a gap fill to 105 23.5/32 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 broke higher on Friday and retreated to the upper .214 closing slightly down on the day. Today, we are still looking at shorting a gap up that is above Fridays high of 76.30 with a gap fill and negative momentum on the daily bars as a minimum profit target. Shorting is only valid below the open. Buyers looking to position long need to be patient for the inevitable pullback that should bring oil in a couple of bucks. 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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