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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
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| ______________________________________________________________________ Friday, May 23rd Existing Home Sales 10:00am ET Today - Early Bond Close *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 flat open led to resistance at confluence only to post a relatively quiet inside day which appears to simply be a pause before the next move lower. Today as long as trading below yesterdays high the short side will be favored with 1386.25 and 1383.75 as ultimate profit targets. Below 1383.75 and we should see buyers as well as short covering with 5 to 10 point bounces. If not - look out below as these levels due suggest a critical change in momentum on the weekly bars and sets the S&P up for a failure on the monthly bars in June. I am not a fan of the buy side here, but trading above 1399.75 and we could see a short squeeze to 1408.25 and perhaps even 1420.75
Trade with Knowledge! Burr Jennings ______________________________________________________________________
Thursday, May 22nd 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: A flat open led to continued selling yesterday easily breaking Tuesdays low and threatening to break last weeks low of 1386.25 under the pressure of FOMC minutes and $134 oil. Today selling is likely to continue with once again confluence at the lower .214 and the pivot to trade against. Below 1383.75 we should see some buy interest for scalping to the buy side. If not - look out below! We have all been wondering how the S&P has been able to maintain posting new monthly highs nearly every week under the pressure of commodity inflation. This may be the beginning of the end of the current move up.
Trade with Knowledge! Burr Jennings ______________________________________________________________________
Wednesday, May 21st Oil Inventory 10:30, 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: Weakness at yesterdays open easily broke Mondays low to ultimately break last Fridays low which held key resistance throughout the afternoon. A rally posted in the last 30 minutes kept the S&P from breaking the Fib low of 1407.25 which is still a likely target for the bears should the confluence of the lower .214 and the pivot offer resistance today. Strength at the open will likely be sold in to especially if Oil Inventory at 10:30am ET suggests a tighter supply and Oil breaks the $130 level. FOMC minutes at 2:00pm ET will define the balance of the day. Be in the DATA chat room for the latest real time analysis. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Tuesday, May 20th PPI 8:30am, S.S. Investor 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 confluence and rallied much harder than expected to well above last weeks high only to find sellers that took the S&P back down thru the low of the day and ultimately closing in positive territory. After 6 days of positive momentum it is reasonable to assume the S&P is ready to relax a bit. Today the short side is favored as long as trading with resistance below the loose confluence of yesterdays close and today's pivot with yesterdays low of 1421.75 as a minimum profit target and 1407.25 as an ultimate target. I am not a fan of the buy side at these levels at all, and should a breakout of yesterdays high occur I will again be working the short side. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Monday, May 19th Leading Indicators 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 on Friday sold 60% of the the way back to Thursdays low before buyers stepped in to close the day just above Thursdays high. Last weeks price action continued to be very bullish and a break above 1427.50 should be expected today as long as trading with support above the confluence of the upper .214 and the pivot as highlighted above. Beyond 1427.50 and we should see the S&P struggle before inevitably pulling back. Below 1418.25 and we may see a run to break Fridays low of 1414.75 with a return to last Tuesdays close of 1404.75 and ultimately 1383.75 which is a critical weekly low. With the prospect of what Tuesdays PPI has to offer the market may remain propped up today as there are no significant announcements today other than Leading Indicators at 10:00am ET. 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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