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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 29th Personal Income 8:30, NAPM-Chicago 9:45, 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: Weakness at the open yesterday found resistance at the upper .214 and sold well below Wednesdays low to close poorly on the day suggesting further weakness today. The short side continues to be favored today as long as trading with resistance below the confluence of the lower .214 and the pivot as highlighted above with 1363.50 as a minimum profit target and 1327.00 as an ultimate target. A break above 1374.75 and the buy side will likely be favored as long as support exists above confluence with 1377.75 as a minimum profit target and 1390.00 as an ultimate target. Be in the DATA chat room for the latest real-time analysis. I am out of the office next week and will do my best to keep updating DATA MC and supporting the chat room at least at the open. Trade with Knowledge! Burr Jennings
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Thursday, February 28th GDP 8:30am, 5-Year Note Auction 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: Weakness at the open yesterday again found support at the upper .214 and rallied to just above Tuesdays high before relaxing for the balance of the day. The S&P is running out of gas at these levels and bad news keeps suggesting that sellers should be stepping up soon. The fact that equities continue to be bought suggests we keep working the buy side today as long as support exists above the confluence of the pivot and yesterdays close with yesterdays high of 1388.50 as a minimum profit target and the 2/1 high of 1397.75 as an ultimate profit target. A break below 1374.75 and the bulls are in trouble whereupon the short side will likely be favored with 1363.75 as a minimum profit target and 1327.00 as an ultimate target. A gap up at the open will be worth shorting as long as resistance exists below the open with a gap fill and negative momentum on the daily bars as a minimum profit target. GDP at 8:30am ET will likely set the tone for the day. We have a 5-Year Note auction at 1:00pm ET that if received poorly will likely hit both the treasury and equity markets negatively. Be in the DATA chat room for the latest real-time analysis! Trade with Knowledge! Burr Jennings
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Wednesday, February 27th Durable Goods 8:30am, 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: Weakness at the open yesterday again found support at the pivot and rallied to well above Mondays high posting a continuance of positive momentum on the daily bars. Yesterdays strength is likely to follow through today as long as support exists above the upper .214 of 1375.25 with yesterdays high of 1388.50 as a minimum profit target and the 2/1 high of 1397.75 as an ultimate profit target. A break below 1375.25 and the bulls are in trouble whereupon the short side will likely be favored with 1363.75 as a minimum profit target and 1327.00 as an ultimate target. A gap up at the open will be worth shorting as long as resistance exists below the open with a gap fill and negative momentum on the daily bars as a minimum profit target. Durable Goods at 8:30am ET will likely set the tone for the day. Be in the DATA chat room for the latest real-time analysis. Trade with Knowledge! Burr Jennings
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Tuesday, February 26th PPI 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: Weakness at the open yesterday found support at the pivot and rallied to well above last weeks high posting positive momentum on the weekly bars. Yesterdays strength is likely to follow through today as long as support exists above the confluence of the upper .214 and the pivot as highlighted above with yesterdays high of 1375.50 as a minimum profit target and the gap fill at 1378.00 from 2/4 and the 2/1 high of 1397.75 as ultimate profit targets. A break below 1351.00 and the bulls are in trouble whereupon the short side will likely be favored with 1346.25 as a minimum profit target and 1327.00 as an ultimate target. PPI at 8:30am ET will likely set the tone for the day. Be in the DATA chat room for the latest real-time analysis. Trade with Knowledge! Burr Jennings
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Monday, February 25th 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: Strength at the open on Friday was sold off to well below Thursdays low and ultimately the low of the week threatening to break the February low. Good news in the Bond market sent short sellers running into the close as a post 3pm rally broke the high of the day closing well above the .618 retracement to the high of the week. Today it is likely that Fridays strength continues, but you have heard that one before... Each time we look for continued strength or weakness we get it at the open and within a brief period of time the market reverses which has left the S&P in a horizontal range for the last 2 weeks. Again today we are without confluence and Fridays short squeeze interrupted a clear selling agenda. Relative strength measured by the Fib Grid has been trustworthy and should support exist at or above the upper .382 the buy side should be favored with 1357.50 as a minimum profit target and 1369.75 as an ultimate target. Below the lower .382 of 1343.25 and the short side is favored with 1327.00 as a minimum profit target with 1317.50 as an ultimate target. 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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