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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 18th 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: As suggested in yesterdays DATA Morning Call, Wednesdays strength continued with support at confluence and a break to a new high on the week. Today it is likely that strength continues as long as trading with support above the upper .214 of 1364.00 with 1374.50 as a minimum profit target and 1389.00 as an ultimate target. The pressure is definitely to the buy side and today is options expiration day so those that sold calls last week will be feeling the heat and the need to hedge suggesting we could get another significant move up. A break below yesterdays low of 1358.50 and the short side is favored as long as trading with resistance below 1364.00 with 1347.00 as a minimum profit target and 1325.00 as an ultimate target. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Thursday, April 17th Jobless 8:30am, 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: Tuesdays late day strength followed through yesterday with a gap up at the open and a short squeeze in the afternoon that as suggested in the DATA chat room was an excellent shorting opportunity at the close. Today the buy side remains favored as long as trading above the loose confluence of the upper .214 and the pivot as highlighted above with 1371.50 as a minimum profit target and 1389.00 as an ultimate target. A gap up at the open and the short side is 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 ______________________________________________________________________
Wednesday, April 16th CPI and Housing Starts 8:30am, IPCU 9:15am, Oil 10:30am, Beige Book 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 gap up at the open was met with selling that did not abate until Mondays low was broken posting an outside day before an afternoon rally tested but could not break the high of the day. Unlike Monday, yesterdays price action does leave us with a bullish signature that suggests further strength today. As long as trading with support above the confluence of today's pivot at 1333.25 and the upper .382 of 1333.50 and the buy side is favored with yesterdays high of 1338.75 as a minimum profit target with 1352.00, 1362.75 and 1369.25 as ultimate targets. A break below 1329.50 and the short side is favored as long as trading with resistance below confluence with 1325.00 as a minimum profit target and 1313.50 as an ultimate target. We have several important economic announcements today that will likely have an impact on the market. Be in the DATA chat room for the latest real-time analysis. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Tuesday, April 15th Producer Price Index 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: Weakness at the open yesterday led to a break of Fridays low only to ultimately close just 2 ticks below Fridays low after posting a relatively tight range day similar to last Tuesday and the 5th consecutive day of negative momentum. Although yesterdays price action is far from bullish, we cannot ignore that 5 days down and we need to be looking for the next leg up. Above the confluence of today's pivot at 1332.00 and last weeks low at 1331.75 and we will be working the buy side with yesterdays high of 1337.25 as a minimum profit target and a gap fill to last Thursdays close of 1362.75 and high of 1369.25 as ultimate targets. PPI and earnings announcements pre-market will likely set the tone for the day and weakness that offers resistance below confluence and the short side will be favored with 1327.25 as a minimum profit target and 1313.50 as an ultimate target. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Monday, April 14th Retail Sales 8:30am, Business Inventories 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 led to resistance at Thursdays low selling more than 30 points below the previous days close. Fridays weakness is likely to follow through today with a break of Fridays low offering a capitulation to negative momentum on the weekly bars. The bears are in control today as long as trading with resistance below the lower .214 of 1344.00 with Fridays low of 1331.75 as a minimum profit target and 1313.50 as an ultimate target. Trading above 1344.00 with support and an attempt to fill the gap back to Thursdays close at 1362.75 is likely. We have an important week of economic announcements including most major banks and the potential for more bad news. We also have important economic announcements starting Tuesday which may offer some optimism this afternoon given we are now 4 and potentially 5 days without positive momentum on the daily bars. 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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