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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 19th 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 tight range inside day was posted yesterday with a lower close that suggests continued selling today. We have confluence at the pivot and lower .214 to short sell against with Wednesdays low of 1534.00 as a minimum profit target. Last weeks low of 1556.25 may also offer resistance but a break above that level that offers support and the buy side may be heavily favored with Wednesdays high of 1560.75 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: A gap up at the open yesterday offered little follow through and should the S&P continue to fall out of bed today Notes will likely continue to rise. Below the upper .214 of 109 18.5/32 and all bets off the buy side. A lack of economic announcements suggest that Notes will be looking at the S&P for guidance today.
*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 move higher on Thursday with little regard for a Fib grid that has more than $11 from low to high. To put that in to a more sensible perspective, Oil was $11 a barrel in 1998. Our trading plan in Oil remains the same as historically we know that patience and persistence inevitably wins. Again today, the short side is favored as Oil is hyper over-bought at these levels. Persistence to the short side will inevitably pay. The question remains whether it will pay before or after the current November contract expires. Oil is a short here guys! Trading above yesterdays high of 89.575 and look for any good reason to short Oil with a gap fill to last Fridays close of 83.70 as a minimum profit target with 81.275 and 78.35 as ultimate profit targets.
Trade with Knowledge! Burr Jennings ______________________________________________________________________
Thursday, October 18th Jobless 8:30am, Leading Indicators 10:00am, Philly Fed 12:00pm 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 sold to a new low on the week yesterday trading below Tuesdays low posting an outside day but closing well above Tuesdays low suggesting a bottom may have been put in yesterday. Lately, every other day is either a big range expansion day or a tight range day. We may see a tight range day today given we do not have any significant economic announcements today. Last weeks low of 1556.25 kept a lid on the afternoon price action and may still again today in which case the short side will continue to be favored with yesterdays low of 1534.00 as an ultimate profit target. Support above 1556.25 and we should see a break above yesterdays high of 1560.75 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 ripped higher yesterday as the S&P fell out of bed right from the open. Today the buy side is favored as long as trading with support above the confluence of the upper .214 and the pivot (a powerful combination) with 109 22/32 as a minimum profit target and 109 27/32 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 higher yesterday but met resistance on each breakout closing poorly on the day suggesting lower prices today. Again today, the short side is favored as Oil is hyper over-bought at these levels. Persistence to the short side will inevitably pay. The question remains whether it will pay before or after the current November contract expires. Oil is a short here guys! Trading above yesterdays high of 88.875 and look for any good reason to short Oil with a gap fill to last Fridays close of 83.70 as a minimum profit target with 81.275 and 78.35 as ultimate profit targets. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Wednesday, October 17th CPI and Housing Starts 8:30am, Oil Invty 10:30am, Beige Book 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: Weakness at the open was sold to a new low on the week yesterday closing below Mondays low suggesting further selling today. That said, the S&P has had negative momentum on the daily bars since last Thursdays and is due for a bounce. Today we have CPI pre-market which will likely set the tone for the day. A significant gap down at the open may not be bought in to so be sure if buying on a gap down that it is only if trading above the open. Strength that maintains support above last weeks low of 1556.25 and the buy side is also favored with 1560.25 as a minimum profit target and a new 52 week high above 1586.75 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 rebounded yesterday off weakness in the S&P only to close where they opened. Today we have CPI at 8:30am ET which will likely set the tone for the day. The buy side is currently favored as long as trading above the confluence of the upper .214 and the pivot (a powerful combination) as highlighted above with 108 31.5/32 as a minimum profit target and 109 27/32 as an ultimate target. Breaking below yesterdays low of 108 21.5/32 and the short side is favored as long as trading below confluence. with 108 19/32 as a minimum profit target and 108 6.5/32 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 gapped up above Mondays high at the open yesterday and continued to rocket higher to new all-time highs. Again today, the short side is favored as Oil is hyper over-bought at these levels. Persistence to the short side will inevitably pay. The question remains whether it will pay before or after the current November contract expires. Oil is a short here guys! Trading above yesterdays high of 88.15 and look for any good reason to short Oil with a gap fill to last Fridays close of 83.70 as a minimum profit target with 81.275 and 78.35 as ultimate profit targets. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Tuesday, October 16th Industrial Production 9:15am 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 flat open was met with strong selling throughout the entire morning session ultimately breaking last weeks low and posting negative momentum on the weekly bars for the first time since early September. New lows on the day were bought back above last weeks high in to the close suggesting a rally today. Industrial production at 9:15am ET will likely have a significant impact today. Look for the short side to still be favored as long as trading below the loose confluence of the pivot and yesterdays close with yesterdays low of 1550.00 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 sold below last weeks low only to rebound smartly off selling in the S&P that closed Notes near the high of the day. Today look for buying in Notes to follow through with Fridays high of 108 26.5/32 as a minimum profit target as long as trading above the confluence of the upper .382 and yesterdays close. Industrial production at 9:15am ET will likely have a significant impact on Notes today.
*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 opened on a large gap up Monday morning and after a brief spat of selling rallied substantially to close at new all-time, unbelievable highs. Oil is a short here guys! Trading above yesterdays high of 86.20 and look for any good reason to short Oil with a gap fill to last Fridays close of 83.70 as a minimum profit target with 81.275 and 78.35 as ultimate profit targets. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Monday, October 15th 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 flat open lead to higher prices most of the day on Friday as a rebound to the upper .382 came in to view at the close posting an inside day. Today the short side is favored as long as trading below the confluence of the upper .382 and Fridays close both at 1575.00 with last Thursdays low of 1556.25 as a minimum profit target and 1552.25 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 posted positive momentum early on Friday only to be spanked off the 8:30am ET economic announcement closing poorly at the end of the day. Today we may see Fridays weakness follow through especially if the S&P rallies. 108 20/32 is the old lower .214 and today's upper .382 and a good line in the sand to work with. Resistance at or below 108 20/32 and we should see a break of last weeks low at 108 9.5/32 minimum. Support at or above 108 20/32 and and advance to at least above Fridays high of 108 26.5/32 should be expected.
*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 on its way to posting a new all-time high on Friday with a close right at Thursdays high. As suggested in DATA Morning Call, a move above the high of the year at 83.750 would likely be a struggle. Expect the struggle to continue today should strength remain in Oil above Fridays high. Oil is due for a pullback to at least 83.475 and ultimately 81.275 whereupon buyers will likely step back in. A gap up at the open and Oil is a short as long as trading below the open with a gap fill and negative momentum on the daily bars as a minimum 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.
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