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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 in the e-mini S&P 500 contract 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 and at the same time increase probability of outcome it is possible to trade with a higher percentage 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, November 9th Import/Export Prices and Int. Trade 8:30am, Consumer Sentiment 10:00am ET Today *Check this weeks economic calendar by clicking on: www.econoday.com
*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: An open at Wednesdays close led to continued selling yesterday as new lows on the week and month continued to solidify what is now technically a bear market. The recent volatility in the S&P has left nearly every week closing at or near the high or low of the week. Given we are much closer to this weeks high than this weeks low and that we continue to have negative momentum on the daily bars inside of low relative strength, it is reasonable to assume that the S&P will close at or near the low of the week which currently resides more than 20 points below yesterdays close. That of course does not take in to consideration that we could see prices sell to well below yesterdays low as bears continue to pressure bulls. Yesterdays close suggested a short squeeze in the late afternoon and not real buying. The lower .214 offered resistance yesterday and is likely to do the same today with 1454.00 as a minimum profit target. Above 1485.00 and the bulls may be able to take control but must maintain above 1478.25 to remain bullish. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Thursday, November 8th Jobless 8:30am ET Today *Check this weeks economic calendar by clicking on: www.econoday.com
*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 yesterday led to continued selling throughout the day breaking daily, weekly and monthly lows confirming Mondays price action that suggested the bear's were back in control. Yesterdays price action is ever more ominous for the bulls when you take in to consideration that this time of year is seasonally an extremely bullish environment. Today the short side remains favored below the October low of 1494.75 with yesterdays low of 1478.75 as a minimum profit target. Trading above 1502.50 and the buy side is favored as long as trading with support above 1494.75 with 1515.00 as a minimum profit target and 1526.00 as an ultimate target. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Wednesday, November 7th Productivity and Costs 8:30am, Wholesale Trade 10:00am ET Today *Check this weeks economic calendar by clicking on: www.econoday.com
*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 down to confluence where support led to a new high on the day and a close just off the high of the day suggesting continued strength today. As long as trading above the confluence of the upper .214 and the pivot as highlighted above, the buy side will be favored with yesterdays high of 1526.00 as a minimum profit target and 1558.75 as an ultimate target. Resistance below confluence and all bets off the buy side. Below 1512.50 and the short side will be favored as long as trading below confluence with yesterdays low of 1503.50 as a minimum profit target and Mondays low of 1494.25 as an ultimate target. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Tuesday, November 6th No Significant Economic Announcements Today *Check this weeks economic calendar by clicking on: www.econoday.com
*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 yesterday only to find resistance at confluence and subsequent selling back to a new low on the day, a break of last weeks low and the low of October. These levels were bought, not sold in to as the S&P rebounded smartly to well above the high of the day. Ten points of selling in to the close left bulls puzzled and bewildered as to whether the afternoon rebound was real. I have traded lightly since last week as the market has given a number of conflicting signals to bulls and bears. Bulls will be looking for a rally to break above Mondays high of 1516.25 today and remain above the upper .214 of yesterdays range at 1511.50 but yesterdays poor close which has confluence with today's pivot is smack in the middle of the range. Resistance at or below 1505.25 today and we are likely to see a break below yesterdays low and substantially more selling. We do not have any economic announcements of concern today to influence the market. Be in the DATA chat room for the latest market analysis. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Monday, November 5th ISM Non-Mfg. 10:00am ET Today *Check this weeks economic calendar by clicking on: www.econoday.com
*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: After an outstanding Employment Report on Friday the S&P rallied and then fell like a stone to break to new lows on the week and test but not break last months low. A late day rally saw a close just below the high of the day suggesting a rebound is likely at least today if not this entire week. As suggested on Thursday of last week, we are at the beginning of a very bullish seasonal trade in equities and the buy side should be 100% of our focus should positive momentum return to the daily bars and maintain high relative strength. This means that to pursue the buy side the S&P must trade above Fridays high of 1520.50 and then must remain above the upper .214 of Fridays range at 1515.50 to be considered bullish with 1558.75 as an ultimate profit target. That said, weakness at today's open that ultimately posts resistance below the loose confluence of the lower .214 and the pivot as highlighted above will likely lead to a break of Fridays low of 1496.75 and a break of the October low of 1494.75 ultimately leading to much more significant selling. 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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