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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, December 7th Employment 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: Weakness at the open was met with nothing but buyers as the S&P broke above Wednesdays high, last weeks high and found support above the 200 day SMA to blast to new December highs over 100 points above last weeks low. Today we have the all-important Employment Report at 8:30am ET which may offer a gap up at the 9:30am ET open and if so the short side will be favored as long as trading below the open with a gap fill and negative momentum on the daily bars similar to last Friday. Weakness that offers support at or above the confluence of the upper .214 and the pivot as highlighted above should be bought with yesterdays high of 1510.75 as a minimum profit target. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Thursday, December 6th 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: A strong gap up at the open was met with continued buying to break well above the high of the week and ultimately test last weeks high before relaxing then rallying in to the close up 24 points. Today look for yesterdays strength to continue with a break above last weeks high of 1492.25 with potentially significant buying especially in the afternoon as we have the Employment Report pre-market tomorrow. Support at the 200 day moving average of 1491.50 could lead to institutional buying to well above 1500 today. We have loose confluence at the upper .214 and the pivot as a line in the sand to buy against today. Trading below yesterdays low of 1476.75 and the short side is favored as long as trading below confluence with 1462.50 as a minimum profit target. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Wednesday, December 5th ADP 8:15, Productivity & Costs 8:30, Factory Orders, ISM Non-Mfg and Pending Home Sales 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: A gap down at the open yesterday was reluctantly bought in the morning and reluctantly sold in the afternoon closing below the open for the 3rd day in a row. As suggested in yesterdays DATA Morning Call, it is likely this weakness will be bought in to as traders place there bets in front of the all-important Employment Report on Friday and next Tuesdays FOMC announcement on interest rates. None of today's announcements are nearly as important but collectively the 3 that are offered at 10am are likely to have some impact this morning. Trading above yesterdays high of 1472.50 and we have positive momentum on the daily bars and as long as continuing to trade above 1470.25 with support the buy side will be favored with 1475.75 as a minimum profit target and 1492.25 as an ultimate target which may take until the end of the week to achieve. With no confluence today, I look to my trusty Fib Grid and the lower .214 at 1468.75 as a line in the sand to keep working the short side with 1462.50 and 1460.75 as minimum profit targets and 1426.50 and 1406.75 as ultimate targets should the market come unglued. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Tuesday, December 4th 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: Weakness at the open led to reluctant selling that although broke Fridays low could not close below that level. Today we have loose confluence at the lower .214 and the pivot as highlighted above that if the S&P is trading below with resistance the short side will continue to be favored with 1472.00 as a minimum profit target and 1461.00 as an ultimate target. A gap down at the open and the buy side will be favored only if support exists above the open with yesterdays high of 1484.00 as a minimum profit target and last weeks high of 1492.25 as an ultimate target. Economic announcements are light this week until Fridays all-important Employment report. Expect weakness early this week to ultimately be bought in to in front of Fridays report. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Monday, December 3rd ISM Mfg. Index 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 strong gap up at the open found resistance at the 200 day moving average and was faded the entire morning with a new low on the day posted in the afternoon before a rally in to the close left the S&P up nearly 1 percent. Last weeks price action clearly suggests December will be bullish and the seasonal rally is now intact. Keep in mind that for this assumption to ring true the S&P must remain trading above 1456.50. Today we should see further ascent to be a struggle as the inevitable pullback is likely on the minds of both bulls and bears. A gap up at the open today and the short side will be favored with a gap fill and negative momentum on the daily bars as a minimum profit target. Weakness at the open that finds support at the upper .214 of 1474.00 or higher will likely be good to break above 1492.25 whereupon breakouts are likely to come across resistance. Trade with Knowledge! Burr Jennings
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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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