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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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Thursday, September 27th GDP 8:30am, New Home Sales 10:00am, 5-Year Note Auction 1:00pm ET Today DATA Morning Call will not be available this Friday 9/28 or next Monday 10/1 *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: Strength at the open offered a roller coaster ride yesterday as the high and low of the day was broken repeatedly. Today the buy side is favored as long as trading with support above the confluence of the upper .214, the pivot and yesterdays close with 1543.50 as a minimum profit target and 1552.00 as an ultimate target. Trading below yesterdays low of 1530.25 and the short side will be favored with a gap fill to Tuesdays close of 1529.00 as a minimum profit target and 1518.75 as an ultimate target. GDP at 8:30am ET will likely set the tone for the day.
*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 sold yesterday and filled the gap to Mondays close and rallied in to the close finishing above the open. Notes are setting up for a potential rally here and if trading above yesterdays high of 109 3.5/32 the buy side will be favored as long as trading above the confluence of the lower .382 and the pivot as highlighted above with 109 13/32 as the minimum profit target. Weakness that maintains resistance below confluence is a short with 108 13/32 as the ultimate profit target. GDP at 8:30am ET will likely set the tone for the day.
*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: Strength at yesterdays open offered positive momentum on the daily bars only to be sold to well below Tuesdays low only then to rally and close where Oil opened posting an outside day. Today look for Oil to mount a fresh rally as long as trading with support above the confluence of the upper .382 and the pivot with 80.825 as a minimum profit target and 82.35 as an ultimate target. The pullback we have been looking for has occurred and the buy side is once again favored. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Wednesday, September 26th Durable Goods 8:30am, Oil Invty 10:30am, 2-Year Note Auction 1:00pm ET Today DATA Morning Call will not be available this Friday 9/28 or next Monday 10/1 *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 gap down at the open was ultimately bought to the lower .214 as can be seen in the chart above. Today we will be looking for yesterdays strength to continue as long as trading above the confluence of Mondays low of 1528.00 and today's lower .382 and yesterdays close. This area is likely to be pivotal today. Durable Goods at 8:30am ET will likely set the tone for the day. Weakness at the open that offers resistance below confluence will likely be sold to below yesterdays low of 1518.75
*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 was ultimately sold as the S&P recovered from its early sell-off. Today the expectation suggested above is that the S&P will continue to recover which will likely put pressure on Notes. E expect a capitulation to negative momentum on the daily bars today with the short side favored as long as trading below the confluence of the upper .214 and the pivot with a gap fill to Mondays close of 108 29.5/32 as a minimum profit target and 108 13/32 as an ultimate target. In the big picture, weakness in Notes will likely be accumulated as the macro-trend is up.
*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 at the open was sold to just below $79 before rallying and closing in the middle of the days range. Today, look for Oil to continue selling as long as trading below the loose confluence of the lower .214 and the pivot as highlighted above with yesterdays low of 78.95 as a minimum profit target. Trading above 79.975 and Oil will be looking to fill the gap back to Mondays close of 80.825 and at least test if not break last weeks high of 82.350 Trade with Knowledge! Burr Jennings ______________________________________________________________________
Tuesday, September 25th Consumer Confidence and Existing Home Sales 10am 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 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: Strength at the open yesterday was ultimately sold to below Fridays low closing identical to Thursdays 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 yesterdays low of 1528.00 as a minimum profit target and 1514.50, 1495.50 and 1485.00 as ultimate profit targets. Trading above 1538.75 and the buy side is again favored with 1543.50 as a minimum profit target and 1552.00 as an ultimate target. In the big picture I am not bearish the S&P. As long as trading above 1485.00, significant pullbacks will likely be bought to break above the high of September 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 opened weak yesterday and rallied a tick above Fridays high closing above the new upper .214 at the end of the day. Today Notes are bullish as long as trading with support above the upper .214 and the pivot with 109 17.5/32 as a minimum profit target. If the S&P continues to sell-off then Notes should rally. 10:00am ET economic announcements will likely be a deciding factor.
*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 briefly posted negative momentum on the daily bars yesterday closing almost a dollar lower than on Friday. Today the short side is favored as long as trading below the loose confluence of the lower .214, the pivot and yesterdays close. Look for a return to below $80 per barrel. Trading above 81.60 and Oil is likely to test/break Fridays high of 82.35 Trade with Knowledge! Burr Jennings ______________________________________________________________________
Monday, September 24th No Significant Economic 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 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 gap up at the open suggested working the short side on Friday. Traders must have gone home early, perhaps as early as 9:35am ET, as the S&P spent almost the entire day trading within the first 30 minutes of range. As I have suggested in the DATA chat room, there should be a law against such price action! Given Fridays poor close, look for the S&P to sell today as long as trading with resistance below the confluence of the upper .382 and the pivot with 1528.75 as a minimum profit target and 1511.00, 1495.50 and 1485.00 as ultimate profit targets. In the big picture I am not bearish the S&P. Significant pullbacks will likely be bought in the big picture to break above the high of September 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 slipped lower on Friday helped by a strengthening S&P off the back of good earnings announcements. Notes did manage to close above confluence suggesting we may see positive momentum today on the daily bars. Fridays rally in the S&P was lame at best and given that the September contract has now expired we may see S&P selling that will likely fuel Note buying. If that is the case Notes should trade above 108 31/32 and stay above 108 24.5/32 to be considered bullish with 109 17.5/32 as a minimum profit target and 110 3/32 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: Fridays price action was limited in charting as eSignal dropped the entire morning session in Oil. Today the Fib Grid stays the same as Friday and I will therefore use the same pivot points and trading plan. 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 ______________________________________________________________________ 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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