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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, October 5th Employment 8:30am, Bonds and Notes Early Close 2:00pm 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 was initially sold but ultimately rebounded in to what turned out to be a rather lame rally. Today we have the Employment Report at 8:30am ET which will define the price action for the day. With such a tight range over the last 3 sessions it is reasonable to assume that the S&P will test if not break either the low or the high of the Fib Grid today. A gap up at the open that is above Mondays high of 1461.00 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. Be in the DATA chat room for the latest 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: Weakness at yesterdays open was bought with a close at the high of the day after posting new negative momentum on the daily bars. Today we have the Employment Report at 8:30am ET which will define the price action for the day. With such a tight range over the last 5 sessions it is reasonable to assume that the S&P will test if not break either the low or the high of the Fib Grid today. Be in the DATA chat room for the latest 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 market
Crude Oil: Weakness at the open yesterday was bought aggressively to well above Wednesdays high posting an outside day. Today the buy side is favored as long as trading above the confluence of the upper .382 and the pivot as highlighted above with 83.750 as an ultimate profit target. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Thursday, October 4th Jobless 8:30, Factory Orders 10:00am 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: A gap down at the open was bought off the 10am ET economic announcements to easily fill the gap to Tuesdays close before fading back below the low of the day only to close just above the open. The past 2 sessions have offered lame selling and although a more substantial pullback is due, traders are likely to bid equities back up today in front of Fridays 8:30am ET Employment Report. Today's pivot holds confluence with Tuesdays low and if trading above expect bullish price action with 1556.50 as a minimum profit target and 1561.00 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 opened higher and rallied to just above Tuesdays high yesterday before settling well below the upper .214 at the close. Selling has been mild in the S&P the last 2 sessions and a return to the predominate up trend will likely hurt Notes. We have the Employment report on Friday at 8:30am ET which will likely see the optimists emerge in the equity markets at least in today's afternoon session if not the morning as well. This strength in equities will likely see a retreat in Notes. Today we have confluence at the pivot and yesterdays close as a good line in the sand to trade against with either end of the Fib Grid as profit 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: Strength at the open offered positive momentum on the daily bars with support at the pivot and a flat close. Not an inspiring rally but if holds above the confluence of the upper .382 and the pivot as highlighted above the buy side will be favored today. Trading below yesterdays low of 79.550 and the short side is favored as long as resistance exists below confluence with 78.875 as a minimum profit target. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Wednesday, October 3rd ADP Employment 8:15, ISM Non-Mfg 10:00, Oil Invty 10:30am 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 was sold to confluence at 1552.00 and rallied smartly but could not hold on to gains in to the close posting an inside day. Today confluence is a bit higher with the upper .214 and the pivot offering a good line in the sand to trade against.Given that yesterday was an inside day, our trading plan remains the same. Buying is likely to continue today but expect a struggle above Mondays high of 1561.00 with a minimum retracement back to last weeks high of 1552.00 before moving higher. As suggested in DATA Morning Call and numerous occasions in the DATA chat room, the big picture is bullish as positive momentum on the weekly and monthly bars continues. Be in the DATA chat room for the latest 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 rallied valiantly yesterday to well above last weeks high but could not remain there as a weak S&P recovered late in the afternoon. Today the buy side remains favored as long as trading above the confluence of the upper .214 and the pivot with109 25.5/32 as a minimum profit target and 110 3/32 as an ultimate target. Breaking below yesterdays low of 1096.5/32 and the short side is favored as long as trading below confluence with 108 22.5/32 as a minimum profit target and 108 13/32 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: Oil continued to fade yesterday, easily breaking below Mondays low yet managed to close above today's upper .214 which combined with yesterdays close at 80.00 should offer a good line in the sand to trade against today with 78.875 as the minimum profit target and 78.450 as the ultimate target to the short side. Trading above yesterdays high of 80.20 and the buy side is again favored as long as trading above 79.925 with 83.75 as the ultimate profit target. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Tuesday, October 2nd Pending Home Sales 10:00am 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: The 4th quarter opened with a bang yesterday as bad news was pushed aside and equity bulls caused a stampede to just below the all-time high in the S&P and Dow. Today the buying is likely to continue but expect a struggle above yesterdays high of 1561.00 with a minimum retracement back to last weeks high of 1552.00 before moving higher. As suggested in DATA Morning Call and numerous occasions in the DATA chat room, the big picture is bullish as positive momentum on the weekly and monthly bars continues. Be in the DATA chat room for the latest 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 posted a relatively quiet inside day that was quite defensive given the strength in equities. Perhaps Notes are in denial as the Dow and S&P bang on all time highs. Today we have confluence at the pivot and yesterdays close with the upper .382 only a few ticks away. Notes must maintain above this level to be considered bullish. Continued strength in the S&P and Notes are likely to fade with 108 22.5/32 as an ultimate target. A failure in the S&P and Notes are very likely to rally given the high relative strength that was maintained yesterday. Look for a break above 109 22/32 as a minimum profit target to the buy 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 fell out of bed on yesterday as Fridays selling continued to hit the tape. Support at the lower .214 on the Fib Grid suggests a rally today but if not, look out below as 78.45 will be the minimum profit target for short sellers. In the big picture Oil is still very bullish. If high relative strength returns we will likely see a break above 83.75. Confluence at the pivot and the lower .214 will be a good line in the sand to trade against today. Trade with Knowledge! Burr Jennings ______________________________________________________________________
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 ______________________________________________________________________ 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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