| 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, January 25th 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: Wednesdays bullish price action continued yesterday but with less exuberance as expected and as suggested a struggle above 1355.25. Today look for continued strength that takes the S&P back to the 10ema on the daily bars at 1364.25 whereupon further ascent is likely to be a struggle and scalping and position trading short will likely be advantageous. We now have close to 100 points on the Fib Grid and once again although directional bias is up on the daily bars it is nearing exhaustion for this move. A gap up today at the open that ultimately trades at or above 1364.25 is a short as long as trading below the open with a gap fill and negative momentum on the daily bars as a minimum profit target. Weakness at the open that maintains support above the upper .214 of 1336.75 is a buy with yesterdays high of 1357.25 as a minimum profit target and the 10ema on the daily bars at 1364.25 as an ultimate target. Next weeks FOMC meeting will help to keep a bullish bias in the market until Wednesday. Pullbacks including negative momentum on the daily bars will likely be bought up until the announcement. Have a great weekend! Trade with Knowledge! Burr Jennings ______________________________________________________________________
Thursday, January 24th Jobless 8:30am, Existing 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 35 point gap down at the open offered nothing but buying yesterday morning to fill the gap to Tuesdays close before falling back below the low of the day only to light the mother of all roman candlesque rallies to post 75 points of range on the day up 32 points at the close. Today we should see a continuance of yesterdays rally as clearly shorts are stuck and bulls are putting it to them after a long hiatus. We have 2 key levels of support to take in to consideration today. First is the upper .214 of 1326.75 which if offers support we should see an immediate rebound to above yesterdays high of 1344.50 with considerable resistance above last Fridays high of 1355.25 and as suggested earlier, ultimately a return to the 10ema on the daily bars which is currently 1367.00 which may take a few days to achieve. The other level of considerable concern for bulls is last weeks low of 1315.75 which will be watched for support, below which all bets off considering the buy side. We should begin to see scalping to the short side become effective after 11:30am ET today as long as the morning session rallies. Be in the DATA chat room for the latest real-time analysis. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Wednesday, January 23rd Redbook 8:55am 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 60 point gap down at the open offered nothing but buying yesterday morning and pullbacks in the afternoon were bought for a new high and a gap fill to last Fridays close as suggested in DATA Morning Call. With Tuesdays Fed intervention of 3/4 of a point we should see follow through to the buy side today with a break above yesterdays high of 1325.00 minimum and 1355.25 as an ultimate target. Today we have very loose confluence between the lower .214 and the pivot as highlighted above with 160 points(!) on the Fib Grid which should offer a broad stroked line in the sand to trade against. Below 1296.75 and all bets off the buy side. I will continue to favor the buy side until positive momentum on the daily bars creates a new Fib Grid. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Tuesday, January 22nd State Street Investors 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: Strength at the open once again found resistance at confluence and was sold to well below Thursdays low continuing the cascade that in Fridays DATA Morning Call was suggested would lead to a market "crash." Well folks, today may be the day that "crash" is realized. Monday saw major corrections worldwide and our own S&P Globex contract was down as much as 70 points suggesting further weakness today. Intervention by the Federal Reserve and a new round of lower interest rates is likely. That being the case and the fact that a gap down on the weekly bars has a 100% chance of filling in the near future as well as the 10 day exponential moving average inevitably being achieved, the buy side is the only position I will trade today. Look for breaks below 1255.50 to be bought for quick rebounds or to my ultimate profit target of 1325.25 or even higher. Again, avoid the short side at theses levels. Trade the buy side for what inevitably will be an exceptional move higher. It may take a day or two but your persistence should be well rewarded. Absolutely, positively 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.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
