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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, January 11th International Trade and Import/Export 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 was bought and support at confluence led to a rally that easily eclipsed Wednesdays high as Ben Bernanke came out and promised a new round of lower interest rates. Today the bull is alive only if trading with support above the pivot of 1419.50 which has loose confluence with yesterdays close. Minimum profit target is 1436.25 then 1437.75 and ultimately 1458.75. We have important economic announcements at 8:30am ET that will likely decide the fate of equities today. Trend is down in the big picture and it is likely that strength will ultimately be sold to well below this weeks low in the near future if not today. The sell side is very much favored should the S&P trade below 1404.50 with resistance and 1385.00 as a minimum profit target with 1374.50 and 1371.25 as ultimate targets. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Thursday, January 10th Jobless 8:30am, Wholesale Trade 10:00am, Ben Speak 1:00pm 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 in the early morning found resistance at the old November low selling to well below Tuesdays low before rallying off a short squeeze to break the morning high and close up nearly 15 points.This was the 1st sign of life from the bulls since Christmas suggesting that after 9 days of negative price action that yesterdays strength should follow through today with positive momentum on the daily bars. Support at or above the loose confluence of the lower .382 and the pivot should be bought with yesterdays high of 1416.50 as a minimum profit target and 1437.75 and 1458.75 as ultimate targets. I am not a big fan of the short side at this time but should the S&P trade below confluence and especially below the lower .214 then yesterdays low of 1385.00 is a likely target with 1374.50 and 1371.25 as ultimate targets. Be in the DATA chat room for the latest real time analysis. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Wednesday, January 9th 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 easily broke above Mondays high only to retreat to last weeks low where the bulls appeared to take the reins and began a march back to the high of the day. Negative news and rumors killed off that idea and new lows on the day led to our ultimate target of 1406.75 and as suggested in DATA Morning Call "considerably lower." Yesterdays price action was the largest daily bar on the current move down suggesting an exhaustion and an outside day that is the 8th day without an honest positive momentum daily bar suggesting we should have found a bottom here similar to the 11/26 price action. My concern is this: We are in somewhat uncharted territory as the price action so far in 2008 is the worst I have ever seen or back tested suggesting that normal assumptions of what oversold is may be incorrect and we could be headed for a much more significant correction. Today we have a good line in the sand to trade against at the loose confluence of the lower .382 and the pivot as highlighted above. Resistance below this level and look for 1393.00 as a minimum profit target and 1374.50 and 1371.25 as ultimate targets. Support above confluence and we could see a short squeeze that takes us to yesterdays high of 1437.75. Be in the DATA chat room for the latest real time analysis. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Tuesday, January 8th 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: Strength at the open was sold to well below last weeks low before rebounding to close unchanged on the day producing a continuation of negative momentum and a W pattern that suggests traders have found a bottom. Today we may continue to see a cascade of selling that breaks 1406.75 and perhaps considerably lower. With now over 100 points on the Fib Grid the S&P we will use Fridays low of 1417.50 to short sell against. Above 1417.50 and all bets off the short side. We have confluence at today's pivot and yesterdays close with minimum profit targets to the buy side at yesterdays high of 1431.50, Fridays high of 1443.74 and last Thursdays close of 1458.75 all of which have a high probability of being hit. Below 1421.00 and all bets off the buy side. Be in the DATA chat room for the latest real time analysis. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Monday, January 7th 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 down at the open that was well below Thursdays low found nothing but sellers as the December low was easily broken and the November low came under fire. Today we may continue to see a cascade of selling that breaks 1406.75 and perhaps considerably lower. With now nearly 95 points on the Fib Grid the S&P offers no confluence today so we will use Fridays low of 1417.50 and the close at 1423.00 as lines in the sand to trade against. Profit targets to the buy side are Fridays high of 1443.74, Thursdays close of 1458.75 and ultimately the 10 day exponential moving average at 1467.50 all of which have a high probability of being hit. The question remains whether the inevitable rebound occurs today or tomorrow. Be in the DATA chat room for the latest real time analysis. 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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