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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 8th Wholesale Trade 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 found support within the first 30 minutes and rallied to new highs in the morning and afternoon suggesting further strength today. We have confluence today at the lower .214 and the pivot as highlighted above which if offers support we should see a break above yesterdays high of 1348.50 minimum and perhaps quite a bit higher with the 10 day ema at 1355.25 and the upper .382 of 1367.00 as ultimate targets. Resistance below confluence and we may see a run to yesterdays low of 1317.50 and perhaps quite a bit lower as traders exit in front of the weekend Trade with Knowledge! Burr Jennings ______________________________________________________________________
Thursday, February 7th Jobless 8:30am, 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 yesterdays open was sold to well below Tuesdays low only to rebound and find resistance at confluence selling sharply for the rest of the day without a single positive momentum bar on the 30 minute after 11:30am ET. Today it is likely that selling continues as long as trading with resistance below the loose confluence of the pivot and Tuesdays low with 1324.75 as a minimum profit target and 1322.75 (and potentially quite a bit lower) as an ultimate target. After 3 days of weakness short covering rallies may be the name of the game over the next 2 days. A gap down at the open 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. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Wednesday, February 6th Productivity and Costs 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: A gap down at the open was initially bought only to be sold to below the low of the day finding resistance at the open and selling the balance of the day with short but sweet rallies off each new low of day. Today it is likely that yesterdays weakness continues as the low of 1/31 at 1333.00 is calling. A gap down at the open 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 at the open that maintains below the very loose confluence of the lower .214 and the pivot is a short with yesterdays low of 1337.50 as a minimum profit target and 1333.00 and 1322.75 as ultimate targets. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Tuesday, February 5th ISM Non-Mfg. 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: Weakness at the open yesterday was sold-off to hold resistance at last Thursdays high ultimately closing just off the low of the day posting an inside day leaving us with the same Fib Grid today as Monday. Today selling is likely to continue as long as resistance exists at or below the confluence of the upper .214 and the pivot as highlighted above with yesterdays low of 1378.00 as a minimum profit target and 1369.75 and 1333.00 as ultimate targets. Strength at the open that offers support above confluence is likely to trade above yesterdays high of 1394.75 and ultimately through 1397.75. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Monday, February 4th Factory Orders 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 small gap up at the open led to new highs on the week and support at the upper .214 produced a rally to close just off the high at the end of the day. This week is very light on economic announcements and with Fridays close at the high of last week it is very reasonable to assume the S&P will relax at least to the upper .214 of 1384.00 before resuming the current rally which has positive momentum on the daily and weekly bars working against negative momentum on the monthly bars. A gap up at the open and the short side will be favored 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 1384.00 is likely a good buy with last Fridays high of 1397.75 as an ultimate profit target. Resistance below 1384.00 and Fridays low 1376.50 is likely to be broken with the potential for significant selling especially in the afternoon. 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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