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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 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, September 21st Quadruple Witching Today *Check this weeks economic calendar by clicking on: www.econoday.com eSignal Futures Symbols: ES Z7 (S&P500), ZN Z7 (10 Year Note) and QM X7 (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 tight morning range led to selling in the afternoon as the open maintained resistance and Wednesdays low was easily broken with a close below Tuesdays close. Today we will look for selling to continue as long as trading with resistance below the confluence of the lower.214 and the pivot as highlighted above. Trading above 1538.75 and we may see a rally that breaks above 1542.25 and ultimately the high of the week at 1552.00
*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 yesterday selling a full point below Wednesdays close. Notes are oversold at yesterdays close and will likely rally should the S&P continue to sell. A gap down at the open is a buy as long as trading above the open. Strength at the open that finds support at or above the loose confluence of the lower .214 and the pivot (a powerful combination) as highlighted above should be bought for a return to 109 12/32 and ultimately 110 3/32. Resistance at or below confluence and the short side is still favored with yesterdays low of 108 17.5/32 as a minimum profit target and 108 11/32 and 108 4/32 as ultimate targets.
*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 found support at the upper .214 and the pivot and rallied thru yesterdays high to close at an all-time high. Oil is overbought at yesterdays close. A gap up today at the open and the short side is favored as long as trading below the open with a gap fill and negative momentum on the daily bars as a minimum profit target. Avoid the buy side in oil until trading below $80. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Thursday, September 20th Jobless 8:30, Leading Indicators 10:00, Philly Fed Noon ET Today *Check this weeks economic calendar by clicking on: www.econoday.com eSignal Futures Symbols: ES Z7 (S&P500), ZN Z7 (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 and as suggested in DATA Morning Call, breakouts to the up side were sold and the low of the day was easily broken as the gap back to Tuesdays close almost filled. Today we are focused only on the short side. A gap up at the open and we will again be focused on the short side with a gap fill and negative momentum on the daily bars as a minimum profit target. We have confluence at the pivot and yesterdays close to trade against short 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 session 108 145/320 = 108 14.5/32 or 108 29/64 depending on your charting software
10 Year Note: Notes slipped below Tuesdays low only to rally back as the S&P broke the low of the day. Today it is likely that the S&P will relax and Notes will benefit with the buy side favored as long as trading above the confluence of the upper .382 and the pivot as highlighted above with 109 26.5/32 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 gapped up at the open and again posted an all-time high and even though the gap was ultimately filled, buyers came in the last 30 minutes to close Oil well above Tuesdays high. Today look for Oil to relax and post negative momentum on the daily bars by selling to below yesterdays low. A gap up at the open and the short side is again favored with a gap fill and negative momentum on the daily bars as a minimum profit target.
Trade with Knowledge! Burr Jennings ______________________________________________________________________
Wednesday, September 19th CPI and Housing Starts 8:30, Oil Inventory 10:30 ET Today *Check this weeks economic calendar by clicking on: www.econoday.com eSignal Futures Symbols: ES Z7 (S&P500), ZN Z7 (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 initially sold and ultimately bought in front of the FOMC announcement. A half point cut by the Fed prompted an immediate rally that closed at the high of the day just 40 points below the all-time high posting positive momentum back on to the monthly bars. Today the buy side will continue to be favored with yesterdays high as a minimum profit target. A gap up at the open that is above yesterdays high 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. Further breakouts above yesterdays high will likely be sold as the S&P has gone parabolic and is quite overbought.
*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 were a bit coy all day including the after effect of the FOMC announcement closing only marginally higher than Monday. Today it is likely that Notes will rally as long as trading with support above the loose confluence of the upper .382 and the pivot with Fridays high of 110 8/32 as a minimum profit target and 110 25.5/32 and 110 31/32 as ultimate targets.
*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 again blasted higher on Tuesday posting a new all-time high. Today look for the rally to continue as long as trading with support above the confluence of the upper .214 and the pivot as highlighted above. A gap up at the open that is above yesterdays high 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. Further breakouts above yesterdays high will likely be sold as Oil has gone parabolic and is quite overbought.
Trade with Knowledge! Burr Jennings ______________________________________________________________________
Tuesday, September 18th PPI 8:30, S.S. Investor Confidence 10:00, FOMC Announcement 2:15pm ET Today *Check this weeks economic calendar by clicking on: www.econoday.com eSignal Futures Symbols: ES Z7 (S&P500), ZN Z7 (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: Weakness at the open was initially bought yesterday only to sell-off below Fridays low whereupon a fairly lame rally tested the high of the day but could not break through. Today is FOMC day and the decision on interest rates which historically has maintained a bullish bias throughout the morning session. Look for weakness at the open to be bought and/or strength that maintains support above the loose confluence of the lower.214, yesterdays close and the pivot for a rally to yesterdays high of 1495.50 as a minimum profit target and Fridays high of 1500.00 and 1504.26 as an ultimate target. I am not interested in the short side until after the 2:15pm ET FOMC announcement. I will be flat in front of the announcement as the anticipation in the market may produce unusual volatility. Look for trend to develop between 2:45 and 3:00pm ET before taking a new position. Be in the DATA chat room for 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 were very quiet on Monday posting an inside day even though the S&P sold-off well below Fridays low. Today, look for optimism to return to Notes in front of the 2:15pm FOMC announcement on interest rates. For the buy side to be favored Notes must be trading with support above the lose confluence of the lower .214 and the pivot with Fridays high of 110 8/32 as a minimum profit target and and 110 25.5/32 and 110 31/32 as ultimate targets. A gap down at the open that is below yesterdays low and the buy side is favored as long as trading above the open. Given the anticipation of this report, it may be prudent to be flat in front of the 2:15pm ET FOMC announcement.
*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 below Fridays low in the pre-market and rallied the entire day to post a new all-time high. We got the negative momentum on the daily bars we were looking for but on a shallow retracement that suggests a more significant pullback is due in the near future. Above the confluence of the upper .382 and the pivot and oil is a buy to break above yesterdays high of 80.65 and a gap up above yesterdays high at the open is a short opportunity with a gap fill and negative momentum on the daily bars as a minimum profit target.
Trade with Knowledge! Burr Jennings ______________________________________________________________________
Monday, September 17th No Significant Announcements Today *Check this weeks economic calendar by clicking on: www.econoday.com eSignal Futures Symbols: ES Z7 (S&P500), ZN Z7 (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: Weakness at the open was bought on Friday back to Thursdays close where resistance plagued the bulls for the balance of the day. Today is the day before the FOMC decision on interest rates which historically has maintained a bullish bias especially in the afternoon. Look for weakness at the open to be bought as long as trading above the open with Fridays high of 1500.00 as a minimum profit target and 1504.26 as an ultimate target. I am not interested in the short side until after the 2:15pm ET FOMC announcement tomorrow. Be in the DATA chat room for 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: Strength at the open rallied to well above Thursdays high only to be beaten down by an advancing S&P. Today is the day before the FOMC decision on interest rates which historically has maintained a bullish bias especially in the afternoon. Look for weakness at the open to be bought as long as trading above the open with Fridays high of 110 8/32 as a minimum profit target and and 110 25.5/32 and 110 31/32 as ultimate targets. Notes should be offering significant support between 109 26/32 and 109 28/32 today. I am not interested in the short side until after the 2:15pm ET FOMC announcement tomorrow.
*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 Thursdays high on Friday by only a dime before again retreating from momentary new highs to ultimately post an outside day. This is a classic top in Oil and a retreat to the mid $77 range is likely today. Oil is so overbought from last week and the fact that since 8/22 we have not seen an honest pullback, we need to be careful buying this inevitable pullback as there are certainly a lot of speculative buyers that may need to get unwound. Let Oil relax and suggest the selling is over before committing to the buy side. The ultimate profit target to the buy side is of course last weeks high at 80.350
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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