| DATA Home Page |
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!
|
______________________________________________________________________
Friday, December 21st Personal Income 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: A gap up at the open yesterday was sold to test Wednesdays low only to rally in the afternoon to break above the high of the day and close at the high. Yesterdays strength is likely to follow through today with 1478.00 as a minimum profit target. We have near perfect confluence of the upper .214 and the pivot as highlighted above to use as a line in the sand to buy against today. A gap up at the open that is above 1478.00 and the short side will be favored as long as trading below the open. DO NOT be short above the open of a gap up as the government as well as the big brokerage houses have a vested interest in sending you home for the christmas holidays with a rally and something to raise a glass about. Below yesterdays low of 1457.50 and the short side is favored with the low of the week at 1445.75 as a minimum profit target. I will be in the DATA chat room and trading until noon today and Monday. Next Tuesday through Friday and the Direct Access Trading Academy will be on vacation. Morning Call and the DATA chat room will resume on Monday, December 31st. Your job this weekend is to go out and stimulate the economy by extending your credit beyond reasonable limits and buying egregious amounts of Christmas presents so that the S&P can continue to justify these high prices! Be safe have fun and enjoy! Trade with Knowledge! Burr Jennings ______________________________________________________________________
Thursday, December 20th GDP, Corporate Profits and Jobless 8:30am, Leading Indicators 10:00am, Philly Fed Noon 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 flat open led to a rally well above Tuesday's high only to be sold hard half way to the low of the week whereupon buyers stepped back in aggressively closing the S&P just below the lower .214. Yesterday's strength was lame and closed that way but with important economic announcements today and tomorrow the market will go either way. With momentum now positive on the daily bars the buy side is favored as long as trading above the loose confluence of yesterdays close, the upper .382 and the pivot with 1478.00 as a minimum profit target. Below yesterday's low of 1455.75 and the short side is once again favored as long as resistance maintains below confluence with 1445.75 as a minimum profit target and the potential for significantly lower prices beyond that target. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Wednesday, December 19th 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 up at the open was sold to well below Mondays low yesterday before rebounding and breaking above the high of the day. Yesterdays strength is likely to follow through today with a break above yeserdays high of 1471.50 putting positive momentum back on the daily bars. We have loose confluence between yesterdays close and todays lower .214 that as long as offers support the buy side will be favored. Nearly 100 points on the Fib Grid more than suggests a rebound is due and with important economic announcements Thursday and Friday the buy side will likely be favored today with 1478.00 as a minimum profit target Trade with Knowledge! Burr Jennings ______________________________________________________________________
Tuesday, December 18th Housing Starts 8:30am, Redbook 8:55am, S.S. Investor Confidence 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 on Monday brought negative momentum back to the weekly bars to align with the already existing negative momentum on the daily and monthly bars. The S&P is in trouble here folks and closed very heavy yesterday. That said, yesterdays gap down at the open carries a very high probability that it will fill and with important economic announcements Thursday and Friday we may see strength come back to the market today or tomorrow. A gap down at the open today 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. Strength that exceeds Mondays afternoon high of 1472.50 should create a short squeeze and favor the buy side. Strength that cannot exceed 1472.25 will likely be sold to below 1455.00 with 1426.50 and 1406.75 as ultimate profit targets. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Monday, December 17th Empire State Mfg.am 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 bought right to Thursdays close whereupon sellers took control all the way to the close at low tick for the week. Today it is likely that we see last weeks selling follow through with a break of last weeks low at 1478.00 putting negative momentum back on the weekly bars as well as the daily and monthly bars. The bears are in control today as long as trading below the confluence of the lower .214 and R1 as highlighted above with the potential for significant selling. A gap down at the open will create a gap on the weekly bars which has a very high probability of filling back top Fridays close. Use the open as a line in the sand to buy against with a gap fill and positive momentum on the daily bars as a minimum profit target. Above Fridays high of 1498.25 and the buy side is favored as long as support exists above confluence with last weeks high of 1538.25 as an ultimate profit target. 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.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
