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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
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Friday, December 14th CPI 8:30am, IPCU 9:15am 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 ultimately bought in the afternoon to fill the gap back to Wednesdays close posting a choppy inside day that leaves us with the same Fib Grid as Thursday. Today it is reasonable to assume that yesterdays strength will continue to follow through but CPI and IPCU pre-market will have a significant influence one way or the other. A break above yesterdays high of 1501.50 and the buy side will be favored as long as trading above the pivot of 1493.25 with Wednesdays high of 1524.75 as a minimum profit target and Tuesdays high of 1538.25 as an ultimate target. Trading below the lower .214 of 1491.50 with resistance and the short side remains favored with Wednesdays low of 1478.75 as a minimum profit target and 1462.50 as an ultimate target. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Thursday, December 13th Jobless, PPI and Retail Sales 8:30am, Business Inventories 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: The largest gap up at the open in the history of the S&P occurred yesterday as the Fed promised more liquidity to money hungry markets. Traders sold into the news breaking Tuesdays low before a short squeeze into the open left the close well above yesterdays lower .214 and right at today's lower .382 suggesting more buying today. Today the S&P rolls to the March 2008 contract (hence the significantly different Fib and Pivot numbers above) and will have a 10+ point premium over the December contract.With PPI and Retail Sales at 8:30am ET the market may go either way but as suggested in yesterdays DATA Morning Call, the buy side will likely be favored between now and the end of the year. Today we have confluence at the lower .382 and the pivot as highlighted above which should offer a good line in the sand to trade against. Resistance below confluence will likely be sold to yesterdays low of 1478.75 and ultimately the 12/4 low of 1462.50. Support above confluence and we have profit targets at 1524.75 and 1538.25. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Wednesday, December 12th Import/Export and International Trade 8:30am, Quarterly Services 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 to test the Monday afternoon low and the pivot where buyers came in to rally well above Mondays high only to be decimated by a measly 1/4 point decrease in interest rates at the 2:15pm ET FOMC announcement selling off more than 50 points from the high of day. Today it is likely that selling continues with the old Fib low of 1462.50 as an ultimate target. Selling will likely be met with buyers before the end of the week as traders realize that a 1/4 point is just the right medicine for the market at this time. A break above yesterdays high is likely well before the end of the year. We do not have confluence today but given yesterdays outside day the Fib Grid is yesterdays range suggesting that strength that maintains below the lower .382 of 1495.25 should be shorted with 1475.50 as a minimum target and the 12/4 low as an ultimate target. Strength that exceeds and maintains above the upper .382 of 1507.25 should be bought with 1527.00 as an ultimate target. Statistically, the S&P often retraces to the pre-FOMC announcement price level within days of the announcement. The buy side will likely be our primary focus between now and the end of the year. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Tuesday, December 11th Wholesale Trade 10:00am, FOMC Announcement 2:15pm 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 yesterdays open found support at Fridays close and rallied to well above last weeks high closing right at the .618 retracement from Novembers low to Octobers high as mentioned in Mondays DATA Morning Call. Today is FOMC day and we should expect a continuance of yesterdays strength during the morning session with a break above yesterdays high of 1520.75 as a minimum profit target. It is best to be flat with no position on in front of today's 2:15pm report as fireworks will likely occur regardless of the content. A half point cut and we should see a strong rally. With 60 points on the Fib Grid it is reasonable to assume that good news is already baked in to the pie. Therefore, any rally will likely be faded if not today then on Wednesday. Be in the DATA chat room for the latest real time analysis. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Monday, December 10th Day before FOMC, 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: A gap up at the open was faded most of the day on Friday as the S&P was reluctantly sold. Today it is reasonable to assume that selling will continue but with Tuesday being the all-important FOMC announcement on interest rates we are likely to see at least a bullish drift in the afternoon. We have over 50 points on the Fib Grid so it is also likely that negative momentum on the daily bars is near. Light selling to S1 would break Fridays low but again, look for this weakness to be bought at least in the afternoon session. A gap up at the open and the short side is again favored as long as trading with resistance below the open with a gap fill to 1507.00 and negative momentum on the daily bars at 1503.75 as minimum profit targets. The .618 retracement of Novembers low to Octobers high (the high of the year) is 1518.75 and is likely to offer resistance this week. 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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