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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 12th PPI and Retail Sales 8:30am, Biz Invty and Cons. Sent. 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 up at the open offered an exceptional short opportunity yesterday that both filled the gap to Wednesdays close and posted negative momentum on the daily bars as suggested in DATA Morning Call. Today we have important pre-market economic announcements that may potentially set the tone for the day. Momentum is negative and relative strength at yesterdays close is weak. Look for continued weakness today as long as trading below the loose confluence of the lower .382 and the pivot with yesterdays low of 1556.25 as a minimum profit target and the 10/4 close of 1552.25 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 session 108 145/320 = 108 14.5/32 or 108 29/64 depending on your charting software
10 Year Note: Yesterdays selling in the S&P gave us an uncharacteristically soft rally in the Notes in front of today's 8:30am ET economic announcements which will likely set the tone for the balance of the day. Look for yesterdays strength to continue today as long as trading above the confluence of the lower .214 and yesterdays close with 108 29/32 as a minimum profit target and 109 27/32 as an ultimate target. I am not a fan of the short side at these levels but persistent resistance at confluence suggests at least a break of yesterdays low.
*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: As suggested, Oil continued yesterday on its merry way to charging us more every time we fill our tanks. Oil is way overcooked up here and a gap up at today's open that cannot maintain above the open and Oil is a short with a gap fill and negative momentum on the daily bars as a minimum profit target and Wednesdays close of 81.275 and the Fib Grid low of 78.350 as ultimate targets. Yesterdays high is just .10 off the September high. Trading above the upper .214 and we should see a beak above 83.750 but expect further ascent to be a struggle. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Thursday, October 11th Import/Export Prices 8:30am, 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: Weakness at the open found resistance at the pivot and ultimately support at the upper .382 then the upper .214 to close just above the open. Today the buy side is favored as long as trading with support above the confluence of the upper .214 and the pivot with 77.50 as a minimum profit target. Expect further ascent above 1577.50 to be a struggle and potentially a good short. A gap up at the open that does stay above the open is a short opportunity with a gap fill and negative 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: Notes continued to be under pressure yesterday despite well over 100 points of Dow selling intra-day. A break below Tuesdays low was met with buying back to the lower .214 where resistance sent Notes back to Tuesdays low at the close. Notes are oversold and desperate for the over bought condition in the S&P to relax and offer some pessimism in the future economic outlook. Today Notes continue to be bearish trading below the lower .214 as highlighted above. Above 108 29/32 and the buy side is favored as long as trading above the confluence of the lower .214 and the pivot with 109 27/32 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 took an early dip off the open and ultimately posted 3 ascending points of support before breaking above Tuesdays high and closing at the high of the day. Today look for yesterdays strength in Oil to continue as long as trading above the upper .214 and the pivot as highlighted above with 81.75 as a minimum profit target and 83.75 as an ultimate target. Oil Inventory at 10:30am ET will likely interject volatility. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Wednesday, October 10th Wholesale Trade 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: Strength at the open was initially sold yesterday only to be aggressively bought off the 2pm ET FOMC minutes posting a new all-time high in the S&P. Today the buy side is still favored above the loose confluence of the upper .214 and the pivot as highlighted above. Look for a break above yesterdays high of 1577.50 to be sold in to as the S&P is well overcooked at these levels. I am not at all interested in the buy side today as negative momentum on the daily bars is the inevitable and ultimate goal.
*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 held twice against the lower .214 yesterday before breaking below last weeks low. Today if Notes continue to held below the lower .214 expect more selling with the 9/21 low of 108 13.5/32 as an ultimate profit target. Trading above 108 31.5/32 and the buy side is favored as long as support remains above 108 27/32
*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 rebounded smartly yesterday trading 80% of the way back to last weeks high off support at confluence. Today look for yesterdays rally to continue as long as trading with support above the confluence of the upper .382 and the pivot with 81.075 as a minimum profit target and 81.75 as an ultimate profit target. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Tuesday, October 9th FOMC Minutes 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: The S&P posted an extremely lame inside day yesterday leaving us with the same trading plan today. Today we have confluence at the lower .382 and the pivot where we should find support for a move just above Fridays high whereupon further ascent will likely be a struggle. A bullish drift to an outright rally is likely in front of FOMC minutes at 2pm ET. Look ultimately for a move back to Thursdays close of 1552.25 which may take a few days as the S&P is overcooked at these levels and the short side is becoming favored. FOMC minutes at 2pm ET will likely set the tone for the balance of the afternoon. 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 crushed on Friday as a strong Employment Report boosted equities and spanked treasuries. Today look for Notes to trade against the lower .214 of the Fib Grid at 108 29/32 if still bearish. A break below Fridays low of 108 21/32 that bounces and stays above that level is likely a good buy for a retracement to last Thursdays close. Today's FOMC minutes will likely influence the direction of Notes for the balance of the week.
*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: An open below Fridays low led to additional selling yesterday as Oil easily cut through last weeks low. Today the sell side is still favored as long as trading below the confluence of the lower .214 and the pivot as highlighted above. Oil appears to be simply taking a pause here before the next leg up. Look for any good reason to be long Oil above today's confluence with 81.750 as a minimum profit target. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Monday, October 8th Notes and Bonds Closed, 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 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 substantial rally. Today we have the Columbus day holiday but all markets are open and we do not have any significant economic announcements until FOMC minutes at 2pm on Tuesday. Today we have confluence at the upper .214 and the pivot where we should find support for a move just above Fridays high whereupon further ascent will likely be a struggle. Look ultimately for a move back to Thursdays close of 1552.25 which may take a few days as the S&P is overcooked at these levels and the short side is becoming 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: Notes were crushed on Friday as a strong Employment Report boosted equities and spanked treasuries. Notes and Bonds are closed today so look for Notes to trade against the lower .214 of the Fib Grid at 108 29/32 if still bearish tomorrow. A break below Fridays low of 108 21/32 that bounces and stays above that level is likely a good buy for a retracement to last Thursdays close. Tuesdays FOMC minutes will likely influence the direction of Notes for the balance of the week.
*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 Friday but maintained support at key levels suggesting a move higher today. The buy side is favored as long as trading above the confluence of the upper .214 and the pivot with 81.75 as a minimum target and 83.75 as an ultimate 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.
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