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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 26th Consumer Sentiment 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 Z7 (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 ultimately offered a rally above Wednesdays high yesterday and a mid afternoon test of last weeks low led to a rally in to the close suggesting weakness is being bought over the last 4 sessions with a close above the open each day. We have a host of very important economic announcements next week and historically we get accumulation/rallies in front of these numbers. We also have the all-important seasonal buy November/sell April upon us and the bulls should be coming out of their 2 week hiatus. Today we will see either a continuance of this strength or a significant implosion of prices should the S&P trade below 1505.00 and with only light economic announcements it will likely be earnings that push the market one way or the other. For the market to remain bullish look for the upper .214 of 1522.25 to offer support with a break above 1529.75 as a minimum profit target and a return to 1546.75 as an ultimate target. Trading below 1505.00 and things could get quite ugly as the short side will be favored with 1494.75 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 quiet inside day on Thursday as Notes waited patiently as if expecting the S&P to do something really stupid like selling to new monthly lows. That opportunity may come today so be aware of the analysis offered in the S&P above. Notes remain bullish at yesterdays close but a rebound in the S&P today and Notes will likely sell substantially. To the short side look for Notes to return to 110 7/32 minimum especially if Notes break below the upper .214 of 110 18/32 with the Fib high of 111 6.5/32 as a minimum 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 took off yesterday to new all-time highs and closing at the high of the day. Talk about a squeeze! This squeeze should end badly for Oil as yesterdays close is again hyper-overbought with the gap to Wednesdays close at 87.075 likely to fill. Today look for any good reason to short Oil above yesterdays high of 90.525 with negative momentum on the daily bars and 88.05 as a minimum profit target and 87.075 and 82.70 as ultimate targets. I am not interested in the buy side at all at these levels. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Thursday, October 25th Durable Goods and Jobless 8:30am, New Home Sales 10:00am, 5-Year Note 1:00pm 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 Z7 (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 led to a test of Mondays low which created a short squeeze in the afternoon closing the S&P just off the high of the day. Today, look for yesterdays strength to continue with a break above yesterdays high and positive momentum on the daily bars with 1535.00 as a minimum profit target and that ultimately leads to a test and perhaps a break above 1586.75 which is the high of the year (over the next several weeks). This analysis of course assumes support remains above the confluence of the upper .382 and the pivot as highlighted above with all bets off the buy side should this level break.
*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 flew higher on Wednesday as the S&P fell out of bed. Today continued strength in Notes is unlikely as yesterdays late rebound in the S&P suggests follow through today. Look for a gap fill to Tuesdays close of 110 16.5/32 as a minimum target and returning ultimately to 110 12/32,109 24/32 and 109 18/32.
*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: A flat open led to a rally off the back of Oil Inventory that easily broke above and closed above Tuesdays high. Today look for yesterdays strength to continue with 88.15 as the ultimate profit target. Above 88.15 and look for any good reason to short Oil as the selling to date is not fully digested. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Wednesday, October 24th Existing Home Sales 10:00am, Oil Inventory 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 Z7 (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 was sold to below Mondays close before rallying in the afternoon to new highs suggesting continued strength today. Today the buy side continues to be favored as long as trading above the confluence of the upper .214 and the pivot with yesterdays high of 1527.50 as a minimum profit target and at least an attempt to close the gap to last Thursdays close of 1546.75 as an ultimate target. Trading below 1513.00 and certainly below 1510.25 and the short side will be favored as long as trading below confluence with 1505.00 as a minimum profit target and 1494.75, 1485.00 and 1476.26 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 session 108 145/320 = 108 14.5/32 or 108 29/64 depending on your charting software
10 Year Note: Weakness at the open held sup at the upper .214 and closed nearly the same as Monday posting an inside day. Today the buy side will still be favored as long as trading above the upper .214 of 110 9/32 with Fridays high of 110 27/32 as a minimum profit target. A continued rebound in the S&P and Notes may fall out of bed with the short side favored should 110 7/32 be broken with Notes returning ultimately to 109 24/32 and 109 18/32.
*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 continued to fall on Tuesday but did manage to close above Mondays low. Look for continued selling in Oil today as long as trading with resistance below the confluence of the lower .214 and the pivot as highlighted above with 82.70 as an ultimate target. Trading above yesterdays high of 86.60 and the buy side will be favored as long as trading above confluence with 88.15 as an ultimate profit target. Above 88.15 and we again look for any good reason to short Oil.
Trade with Knowledge! Burr Jennings ______________________________________________________________________
Tuesday, October 23rd State Street Investor Confidence 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 Z7 (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 right from the first 5 minutes of the day closing nearly 20 points higher suggesting a higher move today as positive momentum on the daily bars has been elusive for well over a week. Last weeks low of 1505.00 is a level where if support does not exist all bets come off to the buy side. Another level of interest is the confluence yesterdays cash close at 1514.00 and the lower .214 of 1514.50 which is just below yesterdays high. Look for at least an attempt to close the gap to last Thursdays close of 1546.75
*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 sold in to as the S&P recovered from its own gap down at the open. Notes closed approximately the same as on Friday. Today look for Notes to continue to sell should the S&P regain strength and break above yesterdays high of 1515.75 with Notes returning ultimately to 109 24/32 and 109 18/32.
*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 gapped down at the open only to rally back to Fridays close, fill the gap and settle back at the upper .214 at the close. Today look for Oil to continue selling as long as trading with resistance below the confluence of today's pivot and yesterdays close with a break below 85.125 as a minimum profit target and 82.70 as an ultimate target. Trading above yesterdays high of 86.95 and the buy side will be favored as long as trading above confluence with 88.15 as an ultimate profit target. Above 88.15 and we again look for any good reason to short Oil.
Trade with Knowledge! Burr Jennings ______________________________________________________________________
Monday, October 22nd 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 Z7 (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 led to more selling as the S&P easily broke through the low of the week and the swing low of September closing down over 40 points. With Europe and Asia closed as the Dow approached 400 points down in to the close Friday, it will be interesting to see what reaction the world has to the U.S. markets in advance of our open today. A gap down at the open is a buy as long as trading above the open with support with a gap fill and positive momentum on the daily bars as a minimum profit target. Strength at the open will likely be sold against with Fridays low of 1505.00 as a minimum profit target and 1484.75,1476.25 and 1440.75 as ultimate profit targets. 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 hard in the face of a brutal equity sell-off on Friday. Today the selling in equities may continue and if so expect a continued rise in Notes. Notes are bullish as long as trading above the upper .214 of 110 4.5/32 but I do not expect strength much beyond Fridays high of 110 21.5/32 unless a Black Monday for equities exists. The September high of 110 31/32 is the ultimate profit target for Notes.
*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 remained inside of Thursdays range on Friday closing slightly lower. 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. Oil is a short here guys! Trading above last weeks high high of 89.575 and look for any good reason to short Oil with a gap fill to the 10/12 close of 83.70 as a minimum profit target with 81.275 and 78.35 as ultimate profit targets. The mini Oil contract rolls to December today (QM Z7).
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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