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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, May 16th Housing Starts 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: A 1 tick break of Wednesdays low led to a slow grinding rally that easily broke above the high of the week posting an outside day after several days up. This leaves the cash S&P ($SPX) 4 points away from the 200 day simple moving average suggesting we should see significant resistance today in the 1429 area. 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. Weakness at the open that maintains above the confluence of the upper .382 and the pivot as highlighted above and the buy side is favored with 1425.50 as an ultimate profit target. Weakness that developes breakouts above yesterdays high should be sold short for at least a scalp of 2 to 3 points as significant resistance is likely. Have a great weekend! Trade with Knowledge! Burr Jennings ______________________________________________________________________
Thursday, May 15th Empire St. Mfg. and Jobless 8:30am, I.P.C.U. 9:15am, 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 yesterday saw continued buying to within less than 3 points of last weeks high before cratering in to the close suggesting we may have found the high of this week. Yesterdays late selling is likely to continue today as long as trading with resistance below the loose confluence of the upper .214 and the pivot with a gap fill to Tuesdays close of 1404.75 as a minimum profit target and 1383.75 as an ultimate target. That said we still have positive momentum on the daily, weekly and monthly bars and a number of economic announcements this morning that could potentially keep the current rally alive with 1424.00 as an ultimate target as long as support exists above confluence as highlighted above. Be in the DATA chat room for the latest real time analysis. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Wednesday, May 14th CPI 8:30am, 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 up at the open found support at confluence and rallied reluctantly fo rthe balance of the day suggesting further strength today. The buy side is favored today as long as trading with support above the loose confluence of the upper .214 and the pivot with yesterdays high of 1408.25 as a minimum profit target and 1422.25 as an ultimate target. CPI at 8:30am ET could thwart a rally and a break below 1401.50 and we could see a run for last weeks low at 1383.75. Be in the DATA chat room for the latest real time analysis. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Tuesday, May 13th Retail Sales and Import/Export 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: Strength at the open found support at confluence and rallied above Fridays high putting the squeeze on the short sellers. Thursdays high was easily broken and a close at the high of the day suggests further strength today. The buy side is favored today as long as trading with support above the loose confluence of the upper .382 and the pivot (which is also in the vicinity of the daily 10ema) with yesterdays high of 1405.00 as a minimum profit target and 1422.25 as an ultimate target. Retail Sales at 8:30am ET could thwart a rally and a break below 1395.00 and we could see a run for last weeks low at 1383.75. Be in the DATA chat room for the latest real time analysis. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Monday, May 12th 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: A gap down at the open on Friday was bought just above the previous weeks low to post an inside weekly bar at the close. Today the short side continues to be favored as long as trading with resistance below the confluence of the pivot and Fridays close with 1383.00 as a minimum profit targets. A break above Fridays high of 1393.25 and the buy side will be favored as long as trading above confluence with 1424.00 as an ultimate profit 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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