| 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 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, August 24th Durable Goods 8:30am, New Home Sales 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 V7 (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 signaled a short selling opportunity that easily filled the gap to Wednesdays close and nearly broke Wednesdays low. Today we will look for yesterdays selling to continue as long as trading below the loose confluence of the pivot and yesterdays close with a break below yesterdays low of 1457.00 as a minimum profit target and a gap fill to Tuesdays close of 1450.00 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 gapped down yesterday off the S&P strength and rallied to Wednesdays close as the S&P failed finishing strong at the end of the day. Today Notes may rally given we are looking for weakness in the S&P. Should extreme weakness exist in the S&P Notes are likely to test/break above 109 6.5/32. Should the S&P gather itself up and rally instead of fall out of bed we will likely see Notes give back yesterdays gains and focus on our profit target of 108 4/32. We have confluence at the lower .382 and the pivot as a line in the sand to trade against today. Durable Goods at 8:30am ET is likely to move the market as well.
*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 a relatively quiet inside day on Thursday closing positive. Looking at the chart above you can see an inverted head and shoulders that suggests after 4 days of negative momentum, Oil is likely to rally. Today we have loose confluence at the pivot and yesterdays close that if trading above the buy side will be favored with 71.750 as a minimum profit target and 74.225 as an ultimate target. I am not a fan of the short side in Oil at this time as it has been 5 days since we have seen any strength that would suggest a shorting opportunity. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Thursday, August 23rd 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 V7 (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 favored the short side and faded most of the day until a late afternoon rally brought new highs to the day and closed at the high. Today I am only working the short side as yesterdays gap up should fill to Tuesdays close of 1450.25 and 95 points on the Fib Grid suggests capitulation in the near future. A gap up today at the open and the short side will be favored as long as trading below the open with a gap fill to Tuesdays close of 1450.25 as a minimum profit target. Think short today! Sell in to break outs. Look for negative momentum on the 5 minute chart. This market should begin to pull in today with the intention to post negative momentum on the daily bars at a 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 session 108 145/320 = 108 14.5/32 or 108 29/64 depending on your charting software
10 Year Note: Notes capitulated to negative momentum on the daily bars yesterday but were reluctant to follow through in the afternoon posting a new high on the day just before the close. Today the short side is favored as long as trading below the confluence of the lower .382 and the pivot as highlighted above with 108 4/32 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 continued to fade off the Oil Inventory report yet managed to close above Tuesdays low. Today the short side is favored as long as trading below the confluence of the lower .214 and the pivot as highlighted above. That said, Oil has posted negative momentum for 5 days straight and is due for a rally. A better bet than the short side today may be to work the buy side above confluence with a break above yesterdays high of 70.35 as a minimum profit target. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Wednesday, August 22nd 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 V7 (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 flat open led to a break above Mondays high but could not muster the strength to break Fridays high retaining the Fib Grid from yesterday. As can be seen in the chart above, support and resistance are rising and a break above 1460.25 is likely today as long as trading above the loose confluence of yesterdays close and today's pivot. A break of yesterdays low of 1443.25 and the short side will be favored with Fridays low of 1425.25 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 gapped up and faded the open only to close at the open. Today the buy side is favored only if trading above the loose confluence of the upper .214 and the pivot as highlighted above with 109 6.5/32 as an ultimate profit target. That said, Notes are propped up here and a slip below confluence and the short side is likely favored with 108 4/32 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 rallied as expected yesterday only to suddenly implode and break well below the weekly low. Today look for resistance between the old Fib low of 69.925 and the loose confluence of the lower .382 and the pivot with yesterdays low of 68.925 as a minimum profit target. Oil Inventory at 10:30am ET will likely have an influence on price action today. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Tuesday, August 21st State Street Investor Confidence 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 V7 (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 was sold the entire morning only to be bought to a new high on the day in the afternoon posting an inside day. Yesterdays price action suggests a move higher today with Fridays high of 1460.25 as a minimum profit target and 1472.50 as an ultimate target. Beware a break above yesterdays high that can not maintain above the high and fails potentially creating an outside day. Breaking below Fridays low of 1425.25 and the short side will once again be favored with 1374.50 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: Weakness at the open was bought yesterday as equity indexes faded lower all morning. Notes posted an inside day at the close as did the S&P. Today, look for Notes to trade lower as long as trading below the confluence of the pivot and yesterdays close with last Fridays low of 108 4/32 as a minimum profit target and 107 3/32 as an ultimate target. Should the S&P fall out of bed today, Notes will likely revisit 109 8.5/32
*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 broke Fridays low to break last weeks low before putting in a healthy rally in to the close. Oil now has a triple bottom of support from 8/10, 8/16 and yesterdays low. Today look for yesterdays late afternoon strength to follow through as long as trading above the loose confluence of the lower .382 and the pivot as highlighted above with last Fridays high of 72.20 as a minimum profit target and the 8/15 high of 73.975 as an ultimate target. Oil has rolled to the October contract (QM V7). Trade with Knowledge! Burr Jennings ______________________________________________________________________
Monday, August 20th Leading Indicators 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 up at the open on Friday was faded to the previous close whereupon buyers bid the S&P back near the high of the day. Today, buying is likely to continue as long as trading above Fridays close of 1450.00 with last weeks high of 1472.50 as an ultimate profit target. Breaking below Fridays low of 1425.25 and the short side will once again be favored with 1374.50 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 fell out of bed on Friday as equity indexes gapped up off Fed intervention. Although the gap filled to last Wednesdays close buyers bid Notes back up in to Thursdays range. Today, look for selling to continue in Notes as long as trading with resistance below the confluence of the lower .382 and the pivot with last weeks low of 107 3/32 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 at the open and posted a capitulation to positive momentum on the daily bars as hurricane concerns hit the tape in front of the weekend. Today, look for continued buying in Oil as long as trading with support above the upper .214 and the pivot as highlighted above with 74.225 as an ultimate profit 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.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
