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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, April 11th Import and Export Prices 8:30am, 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 tested Wednesdays low and rallied thru the high of the day to ultimately post an inside day. Afternoon price action was uninspiring and suggests the market may fall off today. The cash close and the pivot hold confluence today and support at or above 1361.00 suggests the bulls are in control with yesterdays high of 1369.25 as a minimum profit target and the Fib high of 1389.00 as an ultimate target. That said, a break below 1357.50 and the bears are still in control with the Fib low of 1351.25 as a minimum profit target and last weeks low of 1313.50 as an ultimate target. Be in the DATA chat room for the latest real time analysis. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Thursday, April 10th International Trade and Jobless 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: An open at the pivot brought sellers in to the S&P breaking well below the previous Fib Grid low posted on 4/3 but managed to rebound in to the close yet settled well below Tuesdays low. Yesterdays weakness suggests further weakness today as long as trading below the confluence of yesterdays close and today's pivot with 1351.25 as a minimum profit target and 1313.50 as an ultimate target. That said, it has been 6 sessions since the S&P has had a significant advance and is due for a rally. Plenty of bad news leaves us still trading in bullish territory relative to the monthly and weekly bars and this should not be ignored. Above Tuesdays low of 1362.25 and the bulls will have confidence as long as trading above confluence with Tuesdays high of 1372.25 as a minimum profit target and the Fib High of 1389.00 as an ultimate target. International Trade at 8:30am ET may offer influence for at least the morning session. Today we have a webinar in the DATA chat room at 4:00pm ET which will likely be very interesting for both beginner and advanced traders. Be there! Trade with Knowledge! Burr Jennings ______________________________________________________________________
Wednesday, April 9th Wholesale Trade 10:00am, 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 gap down at the open was bought to Mondays close yesterday before selling off through the low of the day only to rebound smartly in to the close offering a somewhat bullish picture on the daily bar despite the capitulation to negative momentum. Today the short side is still favored as long as trading with resistance below the confluence of the lower .214 and the pivot (a powerful combination) as highlighted above with 1362.25 and 1360.25 as minimum profit targets and last weeks low of 1313.50 as an ultimate target. That said, the current positive momentum on both the monthly and weekly bars continues to maintain high relative strength even at yesterdays low. A break above yesterdays high of 1372.25 and the buy side is favored as long as trading with support above confluence as highlighted above. Look for the bulls to push out the bears all the way to 1388.75 and perhaps higher. With little importance in economic announcements this week we will look to earnings and surprise announcements to influence the market. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Tuesday, April 8th Pending Home Sales 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: Strength at the open was bought to well above last Fridays high before profit taking took the S&P through the low of day filling the gap to Fridays close. Yesterdays price action suggests weakness today. The buy side will only be favored today as long as support exists above the confluence of the upper .382 and the pivot as highlighted above with yesterdays high of 1389.00 as a minimum profit target and the February swing high of 1390.00 and month high of 1397.75 as ultimate targets. That said, a break of yesterdays low suggests bears are taking control and as long as trading below confluence with resistance the short side will be favored with 1360.25 as our minimum profit target and last weeks low of 1313.50 as an ultimate target. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Monday, April 7th No Significant Economic 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: Last week saw impressive price action as the S&P traded well above the March highs within the first week of April posting positive momentum on the daily, weekly and monthly bars as traders anticipate a recovery in the current economic climate by summers end. Today the buy side is favored as long as support exists above the confluence of the upper .382 and the pivot as highlighted above with Fridays close of 1372.00 as possible support as well. Look for Fridays high as a minimum profit target to the buy side with the February swing high of 1390.00 and month high of 1397.75 as ultimate targets. That said, Fridays close was about the same as the open as traders struggled with valuations in front of earnings season. The market is extremely vulnerable at the current level and will not take disappointment(s) well. Below confluence and all bets off the buy side today. Trading below 1368.75 and the short side is favored as long as resistance maintains below confluence. A break below Fridays low of 1364.25 and 1360.25 will be our minimum profit target with last weeks low of 1313.50 as an ultimate 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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