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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, January 4th Employment 8:30, ISM Non-Mfg. 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 flat open yesterday led to a choppy inside day of trading with the close at the same level as the open. Today we have the all-important Employment Report at 8:30am ET which unlike the December report is likely to cast more volatility in to the game. A bad number and a gap down at the open is a buy as long as trading above the open with a gap fill and positive momentum on the daily bars as a minimum profit target. Support at or above the confluence of the pivot and yesterdays close is also a buy with Wednesdays high of 1480.50 as a minimum profit target. Resistance at or below confluence and we could see a break of the low of the week at 1449.00 and ultimately the 12/18 low of 1445.75 Trade with Knowledge! Burr Jennings ______________________________________________________________________
Thursday, January 3rd ADP 8:15, Jobless 8:30, Factory Orders 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 flat open yesterday led to a break of confluence and significant selling to within 3 points of the 12/18 low closing well below Mondays low. Yesterday was the 4th consecutive lower high, lower low and lower close suggesting we are due for a bounce today. A gap down at the open is a buy as long as trading above the open with a gap fill and positive momentum on the daily bars as a minimum profit target. Support at or above the confluence of the lower .214 and the pivot is also a buy with yesterdays high of 1480.50 as a minimum profit target. Resistance at or below confluence and we could see a break of yesterdays low at 1449.00 and ultimately the 12/18 low of 1445.75 Trade with Knowledge! Burr Jennings ______________________________________________________________________
Wednesday, January 2nd ADP 8:15, Redbook 8:55, ISM Mfg. and Construction Spending 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: A gap down at the open on Monday was sold to well below last weeks low closing weak at the end of the day. Although Mondays price action suggests further weakness today, we must take in to consideration that the first 2 days of January are historically very bullish and given that the S&P has sold off for 3 consecutive days it will be my focus to work the buy side today. A gap down at the open and the buy side is 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 confluence of Mondays close and today's pivot should be bought with Mondays high of 1484.50 as a minimum profit target with 1511.00 as an ultimate target to the buy side. FOMC minutes at 2:00pm ET will likely have an impact on price action so be aware. Be in the DATA chat room for the latest real time analysis. Trade with Knowledge! Burr Jennings ______________________________________________________________________
Happy New Year! Monday, December 31st Existing Home Sales 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 was sold to well below Thursdays low closing at Thursdays low at the end of the day. Today we have loose confluence at the pivot and the lower .214 as highlighted above which should offer a good line in the sand to trade against. Momentum is still positive on the weekly bars but with a very poor relative strength close on Friday. Momentum is negative on the daily bars suggesting we break last weeks low of 1481.00 and fill the gap back to the 12/20 close of 1474.75 minimum and ultimately the December low at 1445.75 should the bears take control. If confluence is defended by the bulls we could see a rally especially in the afternoon that breaks above Fridays high of 1498.25 with ultimate targets of 1511.00 and 1527.00 which could come later in the week given we have the Employment Report on Friday and will likely see strength the day or 2 in front of that number. Today historically tends to be bearish, thin on volume and choppy. Be in the DATA chat room for the latest real time analysis. Happy New Year! 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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