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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 22nd 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 up at the open broke above Tuesdays high only to retreat for the balance of the day retracing more than 80% to the low of the week. Look for yesterdays selling to continue today with yesterdays low of 1339.75 and Wednesdays low of 1336.25 as minimum profit targets with 1317.50 as an ultimate target. Again today we are lacking confluence and will be using yesterdays close of 1347.00 as our line in the sand to trade against. A break above 1352.50 and the buy side will be favored as long as trading with support above yesterdays close with 1369.25 as a minimum profit target and last weeks high of 1370.50, the 2/4 close 1378.75 and the 2/1 high of 1397.75 as ultimate targets. The S&P has been trading in the same range for 7 consecutive sessions and is due to break away. With no economic announcements today we may have to wait until next week. Be in the DATA chat room for the latest real-time analysis. Trade with Knowledge! Burr Jennings
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Thursday, February 21st Jobless 8:30am, Philly Fed, Leading Indicators and Philly Fed 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 broke below last Fridays low only to rebound smartly in front of the FOMC minutes closing just off the high of the day. Yesterdays price action suggests further strength today and given there is no confluence today it is probably best that we use yesterdays close of 1359.00 as a line in the sand to trade against with yesterdays high of 1364.75 as a minimum profit target and Mondays high of 1368.50, last weeks high of 1370.50, the 2/4 close 1378.75 and the 2/1 high of 1397.75 as ultimate targets. Philly Fed at 10am ET may throw a curve ball at the bulls and if so, weakness that offers resistance below 1359.00 will likely be sold given the current negative momentum on the daily bars, especially if the S&P trades below 1348.75 with yesterdays low of 1336.25 as a minimum profit target and 1317.50 as an ultimate target. Be in the DATA chat room for the latest real-time analysis. Trade with Knowledge! Burr Jennings
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Wednesday, February 20th CPI and Housing Starts 8:30am, Leading Indicators 10:00am, FOMC Minutes 2:00pm 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: A strong gap up at yesterdays open was sold against the entire day to find support to the tick at the lower .214 with a close that offered a 5 point premium over the cash close suggesting a good short. Today it is likely that yesterdays selling will continue. CPI at 8:30am ET will rule the morning session and FOMC minutes at 2pm ET will likely dictate the afternoon. We have confluence at the upper .382 and the pivot as highlighted above to trade against today with last Fridays low of 1338.25 as a minimum profit target and 1317.50 as an ultimate target. Strength that maintains support above confluence and the buy side is favored with yesterdays high of 1368.50 as a minimum profit target and last weeks high of 1370.50 as an ultimate target. Trade with Knowledge! Burr Jennings
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Tuesday, February 19th 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: A gap down at the open on Friday was bought to new highs in the afternoon, closing just above last Thursdays close suggesting further strength today. The buy side will be favored today as long as support exists above the loose confluence of the lower .214 and the pivot as highlighted above with Fridays high of 1351.75 as a minimum profit target and last weeks high of 1370.50 as an ultimate target. Resistance below loose confluence and the short side continues to be favored with 1338.25 as a minimum profit target and 1317.50 as an ultimate target. Be in the DATA chat room for the latest real-time analysis. Trade with Knowledge! Burr Jennings
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Monday, February 18th Presidents Day - U.S. Markets Closed ______________________________________________________________________
Friday, February 15th *Early Bond Close* - Empire State Mfg. and Import/Export Prices 8:30am, IPCU 9:15am, 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 filled the gap back to Wednesdays close finding support at the pivot only to be sold to new lows for the balance of the day breaking well below Wednesdays low posting negative momentum on the daily bars. Today selling is likely to continue as long as resistance exists at or below the confluence of the lower .382 and the pivot as highlighted above with yesterdays low of 1347.25 as a minimum profit target with 1339.75, 1320.25 and 1317.50 as ultimate profit targets. We have important economic announcements pre-market and an early bond close that will likely affect the market today. Trading above 1358.50 and the buy side will be favored as long as support exists at or above confluence with the high of the week 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.
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