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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, February 1st Employment 8:30am, ISM Mfg., Construction Spending and 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 down at the open yesterday was bought as suggested in yesterdays DATA Morning Call and DATA chat room with a substantial rally that easily broke above Wednesdays close and came within 1 tick of the high of the week before selling in to the close. Yesterdays strength is likely to follow through today and as long as trading with support above the loose confluence of the upper .382 and the pivot as highlighted above the buy side is favored. Employment at 8:30 am ET and a slew of other announcements at 10:00am ET will likely have an impact on today's trading. Be in the DATA chat room for the latest real time analysis. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Thursday, January 31st Personal Income, ECI and Jobless 8:30am, NAPM 9:45am 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 yesterday was bought as suggested in yesterdays DATA Morning Call and DATA chat room. A 1/2 point cut by the Fed offered a fine rally to well above our ultimate profit target of 1370.75 only to bump in to sellers that forced price well below the morning low and ultimately below Tuesdays low creating an outside day. Today it is reasonable to assume that yesterdays selling will continue. Strength at the open should be sold short as long as resistance exists below the confluence of the lower .382 and the pivot as highlighted above with Mondays low of 1322.75 as a minimum profit target and last weeks low of 1270.00 as an ultimate target. The buy side will likely not be favored at all today unless a significant gap down at the open exists in which case the buy side is favored as long as trading with support above the open with a gap fill and positive momentum on the daily bars as a minimum profit target. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Wednesday, January 30th ADP 8:15am, GDP 8:30am, FOMC 2:15pm 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 yesterday was sold for a gap fill only to rally to new highs in the afternoon posting a capitulation to positive momentum on the daily bars. Today, regardless of where the S&P opens, look for a continuance of yesterdays strength with a minimum profit target of 1370.75 and potentially quite a bit higher. Although confluence is extremely broad, look for support between the upper .214 of 1357.50 and the pivot of 1360.00 for new highs. Expectations are for a 1/2 point cut in interest rates by the Fed at 2:15pm ET today and anything less will likely be a significant disappointment. Be in the DATA chat room for the latest real time analysis. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Tuesday, January 29th Durable Goods 8:30am, Consumer 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 relatively flat open led to a break of Fridays low only to rally as suggested in yesterdays DATA Morning call and close just off the high of the day nearly 75% of the way back to last weeks high. Today look for yesterdays strength to follow through especially during the afternoon. A good line in the sand to buy against today is the upper .382 of 1352.50 with yesterdays high of 1358.25 as a minimum profit target and last weeks high of 1370.75 as an ultimate target. Weakness that breaks below the lower .382 of 1341.00 may offer a good short opportunity for a minimum profit target of last Fridays low of 1322.75 and perhaps lower. FOMC on Wednesday at 2:15pm ET should have bulls bidding the market higher this afternoon and through tomorrow morning. Be in the DATA chat room for the latest real time analysis. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Monday, January 28th New 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: Friday saw a gap up at the open that was almost immediately sold in to as a gap fill to Thursdays close occurred within the first 90 minutes and subsequent selling created an outside day that closed just below Thursdays low suggesting further selling today. Despite the ugly look in the S&P I am VERY bullish this week up until 2:15pm ET on Wednesday when the FOMC decision on interest rates will be announced. A break of Fridays low of 1328.25 that rebounds and maintains support above 1328.25 and the buy side is favored. Significant selling may lead back to the week before lasts low of 1315.75 whereupon support at or above that level is worth buying. Strength at the open that maintains above the open may be worth buying as well especially if support exists at or above the confluence of the lower .382 and the pivot as highlighted above. Having a bullish bias may be a day early today so be aware of the levels that you may want to buy against and do not buy below. I am ultimately looking for strength to come back in to the market off short-term weakness with a potential break above last weeks high of 1370.75 before the FOMC announcement. 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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