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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 30th OBJ's Birthday!! Personal Income 8:30am, NAPM 9:45am, Construction Spending 10:00am 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: As suggested in yesterdays DATA Morning Call, weakness at the open found support at confluence and rallied to a new high on the week. Today look for strength to continue as bulls force short sellers to cover in to the weekend. Yesterdays support came just above the upper .214 and today may be similar. Trade the buy side as long as trading with support above the upper .214 of 1462.00 as highlighted above with yesterdays high of 1477.00 as a minimum profit target with a return to the 200 day moving average at 1491.00 as an ultimate target. With important economic announcements today we could see a dip below yesterdays low of 1460.75 but a rebound that offers support above 1462.00 and the buy side will be favored with the potential to post an outside day. Below 1456.50 and the bulls have relinquished control back to the bears. A gap up at the open 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. Trade with Knowledge! Burr Jennings
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Thursday, November 29th GDP 8:30am, New Home Sales 10:00am 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 up at the open was immediately bought on Wednesday as bulls chased the bears out above Mondays high and the high of last week suggesting the tide has turned in equities in favor of buyers. Today we should see pullbacks bought and breakouts sold. Weakness should find sup between the loose confluence of the pivot and the upper .214 as highlighted above. Minimum profit target to the buy side is 1475.00 with a return to the 200 day moving average at 1491.00 as an ultimate target. Below 1456.50 and the bulls have relinquished control back to the bears. A gap up at the open 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. Trade with Knowledge! Burr Jennings
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Wednesday, November 28th Durable Goods 8:30am, Existing Home Sales 10:00am, Beige Book 2:00pm 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 yesterday found support just above Mondays close and rallied to just below the lower .382 posting an inside day leaving us with a similar trading plan as on Tuesday. Perfect confluence at the pivot and the lower .382 as highlighted above will likely be a good line in the sand to short sell against with yesterdays low of 1409.75 as a minimum profit target and Mondays low of 1406.75 and the the old August low of 1374.50 as an ultimate target. That said, a gap down at the open that is below yesterdays low and the buy side will be favored as long as trading above the open with a gap fill and positive momentum on the daily bars as a minimum profit target. Given the potential for significant selling today, do not stay long a gap down if price cannot maintain above the open. Beige Book at 2pm ET can be a market mover so be aware. Trade with Knowledge! Burr Jennings
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Tuesday, November 27th Consumer Confidence 10:00am 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 broke well above Fridays high but could not maintain high relative strength and began slipping lower within the first hour of trading. Resistance at Fridays close offered massive selling in the afternoon that broke well below last weeks low posting an outside day that is likely to see continued selling today. Loose confluence at the pivot and the lower .382 as highlighted above will likely be a good line in the sand to short sell against with yesterdays low of 1406.75 as a minimum profit target. Yesterdays selling was substantial and suggests we could get an even more significant move lower today that breaks the old August low of 1374.50. That said, a gap down at the open that is below yesterdays low and the buy side will be favored as long as trading above the open with a gap fill and positive momentum on the daily bars as a minimum profit target. Given the potential for significant selling today, do not stay long a gap down if price cannot maintain above the open. Trade with Knowledge! Burr Jennings
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Monday, November 26th No Significant 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: Strength at the open on Friday was bought to well above Wednesdays high suggesting the bulls are back at least on the daily bars. Momentum is still negative on the weekly and monthly bars suggesting this strength will likely be sold. The Monday after Thanksgiving can be a tough day for the bulls as holiday retail sales figures begin to pour in and the true reading of consumer confidence is reflected from cash registers nationwide. Today the S&P is bullish as long as trading above the confluence of the upper .214 and the pivot as highlighted above with last Tuesdays high of 1456.50 as a minimum profit target above which we have positive momentum on the weekly bars. Below Fridays low of 1427.50 and we are likely to see a break of last weeks low at 1417.00 with extreme weakness capable of hitting the old August low of 1374.50. 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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