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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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Thursday, March 20th Quad Witch, Jobless 8:30, Leading Ind. 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 up at the open found resistance at our first ultimate profit target and faded with resistance offered twice at the open as suggested in DATA Morning Call and in DATA chat. The subsequent selling took the S&P to within a few ticks of breaking Tuesdays low before closing just off the low. Today it is reasonable to assume that yesterdays selling will continue and follow through with a break of yesterdays low of 1296.75 with 1279.50 and 1257.75 as ultimate targets. The buy side appears unlikely to be favored as we head in to a 3 day weekend but should support exist above the very loose confluence of the upper .382 and the pivot as highlighted above the buy side will be favored. For the last 4 sessions trading against the open as your line in the sand has been very effective. It is no wonder as traders try to gravitate to a common level given that range on the Fib Grid and Pivot Points has been so volatile and broad lately. Today is Quadruple witching given that tomorrow is Good Friday and U.S. markets will be closed. The March e-mini S&P expires today at 9:30am ET. Have a great Easter weekend! Trade with Knowledge! Burr Jennings ______________________________________________________________________
Wednesday, March 19th Oil Inventory 10:30am 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 strong gap up at the open saw continued buying with only minor pullbacks in front of the 2:15pm ET FOMC announcement. A break of the low of the day after the announcement led to a rally well above the high of the day and a tick above last weeks high before closing just off the high of the day creating an outside week. Today it is reasonable to assume that yesterdays strength will continue. With the S&P parabolic on the chart it is also likely that any further rally will be a struggle with an inevitable minimum retracement to the upper .214 before continuing higher. Without any confluence today we will again focus on the open which offered a perfect dual point of support yesterday morning before rallying with a minimum profit target to the buy side of 1334.50 with 1345.00, 1365.75 and 1390.00 as ultimate targets. 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. Be in the DATA chat room for the latest real time analysis. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Tuesday, March 18th Housing Starts amd PPI 8:30, S.S. Investor Confidence 10:00, 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: A strong gap down at the open led to buying that fell apart by late morning breaking the low of the day only to rebound in the afternoon and trade through the high of the day suggesting further strength today. We have PPI at 8:30am ET which will help to define the morning session. The FOMC announcement at 2:15pm ET suggests we look to the buy side all morning today. Without any confluence today we will be looking at buying above the open except on a significant gap up in which case we may not even have a trade. Be in the DATA chat room for the latest real time analysis. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Monday, March 17th Empire State Mfg. 8:30, IPCU 9:15, Housing Index 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: Strength at the open as a result of the CPI report was sold in to hard breaking below Thursdays low creating an outside day. Today is the day before the FOMC announcement which will likely bring out the bulls especially in the afternoon session. Weakness will likely be bought today. 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 support above the loose confluence of the lower .382 at 1294.50 and Fridays close of 1293.00 should be bought with Fridays high of 1325.50 as a minimum profit target. I am not a fan of the short side today. 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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