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Name: Jim Wyckoff
Location: Iowa
Hobbies: Boating, Camping, Hiking, and anything else outdoors
I am a Senior Market Analyst for
www.TradingEducation.com
a FREE educational website. I
have been involved with the stock, financial and futures
markets for more than 20 years. I became a financial
journalist with Futures World News for many years, where
I covered every futures market traded in the United
States at one time or another. Not long after I began my
career in financial journalism, I began studying
technical analysis. My extensive studies of technical
analysis and knowledge of markets led to several
positions, including chief technical analyst at several
reputable companies.
You can also read additional FREE
daily commentary at
www.TradingEducation.com.
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The mission of my morning web log, or "blog" is to provide you with
the very latest perspective and opinion on selected key markets.
I will help you start your trading day by providing you with concise
and valuable trading "nuggets" to help you in your daily trading plans. |
« October 2006 |
Main
| December 2006 »
November 2006 Archives
CURRENCIES
The December U.S. dollar index is lower in early trading. Bears still have solid near-term technical control of the index. Slow stochastics are neutral for today. The dollar index finds shorter-term technical resistance at the overnight high of 83.42 and then at 84.68. Shorter-term support is seen at the contract low of 82.95 and then at 82.75. Wyckoff's Intra Day Market Rating: 1.5
The December Euro is higher in early electronic trading. The Euro finds sell stop orders are likely located just below technical support at the overnight low of 1.3153 and then more stops just below support at 1.3099. Shorter-term technical resistance for the Euro is seen at the contract high of 1.3231 and then at 1.3250. Buy stops likely reside just above those levels. Slow stochastics for the Euro are neutral early today. Wyckoff's Intra Day Market Rating: 8.0
METALS
Gold is trading higher in trading early today. In December gold, shorter-term technical support is seen at $638.00 and then at the overnight low of $635.00. Sell stops likely reside just below those levels. Buy stops likely reside just above resistance at this week's high of $641.90 and then more buy stops just above technical resistance at $645.00. Wyckoff's Intra-Day Market Rating: 6.5
CRUDE OIL
Crude oil prices are slightly higher in early electronic dealings. Bulls are gaining fresh upside technical momentum this week. In January crude, look for buy stops to reside just above resistance at $63.00 and then just above resistance at $63.50. Look for sell stops just below technical support at the overnight low of $62.20, and then more sell stops just below support at $61.50. Wyckoff's Intra-Day Market Rating: 6.0
GRAINS
Prices were solidly higher overnight. Price action Wednesday reinforced notions that the bulls still have the firm technical advantage in the grains. Some mild profit taking-pressure at the end of the month and the end of the year did occur earlier this week, but the dip was deemed a buying opportunity by the bulls. The corn and soybean markets have not experienced any significant price "correction" since the runup began earlier this fall. That significant correction is coming at some point, however.
Thursday, November 30--Jim Wyckoff's Early Morning Web Log
OVERNIGHT/EARLY MORNING DEVELOPMENTS
The feature in overnight/early morning trading today is higher gold prices amid a weaker U.S. dollar.
U.S. STOCK INDEXES
The stock indexes are firmer in early morning electronic trading. Bulls are quickly regaining near-term technical momentum.
December S&P 500: The shorter-term moving averages (4-, 9- and 18-day) are neutral today. The 4-day moving average is below the 9-day and 18-day. The 9-day is above the 18-day moving average. Short-term oscillators (RSI, slow stochastics) are bullish today. Today, shorter-term technical support comes in at 1,400.00. Sell stops likely reside just under that level. More sell stops likely reside under shorter-term technical support at 1,395.00. Upside resistance for active traders today is located at the contract high of 1,411.00 and then at 1,415.00. Buy stops are likely located just above those levels. Wyckoff's Intra-day Market Rating: 7.0
PIVOT POINT LEVELS FOR DECEMBER S&P 500:
Pivot:------------ 1,398.10
1st Support:------ 1,392.70
2nd Support:------ 1,383.20
1st Resistance:--- 1,407.60
2nd Resistance:--- 1,413.00
December Russell 2000: The shorter-term moving averages (4- 9-and 18-day) are turning bearish today. The 4-day moving average is below the 9-day and 18-day. The 9-day moving average is above the 18-day, but is turning down. Short-term oscillators (RSI, slow stochastics) are bullish early today. Today, shorter-term technical support is located at the overnight low of 785.40. Sell stops likely reside just below that level, and then more sell stops are likely located just below technical support at Wednesday's low of 778.50. On the upside, short-term resistance is seen at Monday's high of 792.90. Buy stops are likely located just above that level. More buy stops are likely located just above resistance at the November high of 798.00. Wyckoff's Intra-Day Market Rating: 6.5
PIVOT POINT LEVELS FOR DECEMBER RUSSELL 2000:
Pivot:------------ 783.85
1st Support:------ 780.80
2nd Support:------ 775.45
1st Resistance:--- 779.20
2nd Resistance:--- 792.25
December Dow: For today, sell stops likely reside just below support at 12,200 and then more stops just below support at Wednesday's low of 12,175. Buy stops likely reside just above shorter-term technical resistance at 12,300 and then more buy stops just above resistance at the contract high of 12,385. Shorter-term moving averages are neutral, as the 4-day moving average is below the 9-day and 18-day. The 9-day moving average is above the 18-day moving average. Shorter-term oscillators (RSI, slow stochastics) are neutral today. Wyckoff's Intra-Day Market Rating: 7.0
PIVOT POINT LEVELS FOR DECEMBER DOW:
Pivot:------------ 12,230
1st Support:------ 12,198
2nd Support:------ 12,142
1st Resistance:--- 12,286
2nd Resistance:--- 12,318
U.S. TREASURY BONDS AND NOTES
U.S. T-Bonds and T-Notes are firmer early today. Bulls still have solid near-term technical momentum on their side.
December U.S. T-Bonds: Shorter-term moving averages (4- 9- 18-day) are bullish today. The 4-day moving average is above the 9-day. The 9-day is above the 18-day moving average. Oscillators (RSI, slow stochastics) are neutral early today. Shorter-term technical resistance lies at 114 even. Buy stops likely reside just above that level. More buy stops likely reside just above technical resistance at this week's high of 114 7/32. Shorter-term technical support lies at the overnight low of 113 20/32. Sell stops likely reside just below that level. More sell stops are likely located below support at Tuesday's low of 113 15/32. Wyckoff's Intra-Day Market Rating: 7.0
PIVOT POINT LEVELS FOR DECEMBER T-BONDS:
Pivot:----------- 113 25/32
1st Support:----- 113 14/32
2nd Support:----- 113 8/32
1st Resistance:-- 113 31/32
2nd Resistance:-- 114 10/32
December U.S. T-Notes: Shorter-term oscillators (RSI, slow stochastics) are neutral early today. Buy stops likely reside just above shorter-term technical resistance at this week's high of 108.31.0, and more buy stops are likely located just above resistance at 109.07.0. Shorter-term moving averages are bullish today. The 4-day moving average is above the 9-day. The 9-day is above the 18-day moving average today. Sell stop orders are likely located just below support at the overnight low of 108.21.5, and then more sell stops just below support at 108.16.0. Wyckoff's Intra Day Market Rating: 7.0
PIVOT POINT LEVELS FOR DECEMBER T-NOTES:
Pivot:------------ 108.25.0
1st Support:------ 108.19.0
2nd Support:------ 108.16.0
1st Resistance:--- 108.28.0
2nd Resistance:--- 109.02.0
Wednesday, November 29--Jim Wyckoff's Early Morning Web Log
OVERNIGHT/EARLY MORNING DEVELOPMENTS
The feature in overnight/early morning trading today is a modest rebound in the value of the U.S. dollar versus the other major currencies, after a string of losing trading sessions.
U.S. STOCK INDEXES
The stock indexes are firmer in early morning electronic trading. Bulls have faded and need to show some power soon.
December S&P 500: The shorter-term moving averages (4-, 9- and 18-day) are turning bearish today. The 4-day moving average is below the 9-day and 18-day. The 9-day is above the 18-day moving average, but is turning down. Short-term oscillators (RSI, slow stochastics) are neutral today. Today, shorter-term technical support comes in at the overnight low of 1,388.60. Sell stops likely reside just under that level. More sell stops likely reside under shorter-term technical support at 1,383.00. Upside resistance for active traders today is located at the overnight high of 1,394.00 and then at 1,400.00. Buy stops are likely located just above those levels. Wyckoff's Intra-day Market Rating: 6
PIVOT POINT LEVELS FOR DECEMBER S&P 500:
Pivot:------------ 1,385.75
1st Support:------ 1,381.25
2nd Support:------ 1,373.90
1st Resistance:--- 1,393.15
2nd Resistance:--- 1,397.70
December Russell 2000: The shorter-term moving averages (4- 9-and 18-day) are turning bearish today. The 4-day moving average is below the 9-day and 18-day. The 9-day moving average is above the 18-day, but is turning down. Short-term oscillators (RSI, slow stochastics) are neutral early today. Today, shorter-term technical support is located at Tuesday's low of 769.00. Sell stops likely reside just below that level, and then more sell stops are likely located just below technical support at 765.00. On the upside, short-term resistance is seen at 780.00. Buy stops are likely located just above that level. More buy stops are likely located just above resistance at Monday's high of 792.90. Wyckoff's Intra-Day Market Rating: 6.0
PIVOT POINT LEVELS FOR DECEMBER RUSSELL 2000:
Pivot:------------ 773.90
1st Support:------ 770.80
2nd Support:------ 765.90
1st Resistance:--- 778.80
2nd Resistance:--- 781.90
December Dow: For today, sell stops likely reside just below support at Tuesday's low of 12,095 and then more stops just below support at 12,050. Buy stops likely reside just above shorter-term technical resistance at Tuesday's high of 12,175 and then more buy stops just above resistance at 12,200. Shorter-term moving averages are turning bearish, as the 4-day moving average is below the 9-day. The 9-day moving average is above the 18-day moving average. Shorter-term oscillators (RSI, slow stochastics) are neutral to bearish today. Wyckoff's Intra-Day Market Rating: 6.0
PIVOT POINT LEVELS FOR DECEMBER DOW:
Pivot:------------ 12,141
1st Support:------ 12,107
2nd Support:------ 12,061
1st Resistance:--- 12,187
2nd Resistance:--- 12,221
U.S. TREASURY BONDS AND NOTES
U.S. T-Bonds and T-Notes are slightly lower early today. But bulls still have solid near-term technical momentum on their side, following Tuesday's gains to multi-month highs.
December U.S. T-Bonds: Shorter-term moving averages (4- 9- 18-day) are bullish today. The 4-day moving average is above the 9-day. The 9-day is above the 18-day moving average. Oscillators (RSI, slow stochastics) are bearish early today. Shorter-term technical resistance lies at the overnight high of 113 31/32. Buy stops likely reside just above that level. More buy stops likely reside just above technical resistance at Tuesday's high of 114 7/32. Shorter-term technical support lies at the overnight low of 113 24/32. Sell stops likely reside just below that level. More sell stops are likely located below support at Tuesday's low of 113 15/32. Wyckoff's Intra-Day Market Rating: 6.0
PIVOT POINT LEVELS FOR DECEMBER T-BONDS:
Pivot:----------- 113 28/32
1st Support:----- 113 17/32
2nd Support:----- 113 4/32
1st Resistance:-- 114 9/32
2nd Resistance:-- 114 20/32
December U.S. T-Notes: Shorter-term oscillators (RSI, slow stochastics) are bearish early today. Buy stops likely reside just above shorter-term technical resistance at Tuesday's high of 108.31.0, and more buy stops are likely located just above resistance at 109.07.0. Shorter-term moving averages are bullish today. The 4-day moving average is above the 9-day. The 9-day is above the 18-day moving average today. Sell stop orders are likely located just below support at Tuesday's low of 108.16.0, and then more sell stops just below support at Monday's low of 108.05.0. Wyckoff's Intra Day Market Rating: 6.0
PIVOT POINT LEVELS FOR DECEMBER T-NOTES:
Pivot:------------ 108.25.0
1st Support:------ 108.18.0
2nd Support:------ 108.10.0
1st Resistance:--- 109.01.0
2nd Resistance:--- 109.08.0
Tuesday, November 28--Jim Wyckoff's Early Morning Web Log
OVERNIGHT/EARLY MORNING DEVELOPMENTS
There is no real feature in overnight/early morning trading today, amid mixed markets in quiet early trading.
U.S. STOCK INDEXES
The stock indexes are narrowly mixed in early morning electronic trading. Bulls have lost their near-term technical momentum.
December S&P 500: The shorter-term moving averages (4-, 9- and 18-day) are turning bearish today. The 4-day moving average is below the 9-day and 18-day. The 9-day is above the 18-day moving average, but is turning down. Short-term oscillators (RSI, slow stochastics) are neutral to bearish today. Today, shorter-term technical support comes in at 1,380.00. Sell stops likely reside just under that level. More sell stops likely reside under shorter-term technical support at 1,375.00. Upside resistance for active traders today is located at the overnight high of 1,386.50 and then at 1,390.00. Buy stops are likely located just above those levels. Wyckoff's Intra-day Market Rating: 5
PIVOT POINT LEVELS FOR DECEMBER S&P 500:
Pivot:------------ 1,390.85
1st Support:------ 1,375.75
2nd Support:------ 1,367.85
1st Resistance:--- 1,407.15
2nd Resistance:--- 1,413.85
December Russell 2000: The shorter-term moving averages (4- 9-and 18-day) are turning bearish today. The 4-day moving average is below the 9-day. The 9-day moving average is above the 18-day. Short-term oscillators (RSI, slow stochastics) are bearish early today. Today, shorter-term technical support is located at Monday's low of 773.00. Sell stops likely reside just below that level, and then more sell stops are likely located just below technical support at 765.00. On the upside, short-term resistance is seen at 780.00. Buy stops are likely located just above that level. More buy stops are likely located just above resistance at Monday's high of 792.90. Wyckoff's Intra-Day Market Rating: 5.0
PIVOT POINT LEVELS FOR DECEMBER RUSSELL 2000:
Pivot:------------ 780.05
1st Support:------ 767.20
2nd Support:------ 760.15
1st Resistance:--- 787.10
2nd Resistance:--- 799.95
December Dow: For today, sell stops likely reside just below support at 12,100 and then more stops just below support at 12,050. Buy stops likely reside just above shorter-term technical resistance at 12,200 and then more buy stops just above resistance at 12,250. Shorter-term moving averages are turning bearish, as the 4-day moving average is below the 9-day. The 9-day moving average is above the 18-day moving average. Shorter-term oscillators (RSI, slow stochastics) are bearish today. Wyckoff's Intra-Day Market Rating: 5.0
PIVOT POINT LEVELS FOR DECEMBER DOW:
Pivot:------------ 12,190
1st Support:------ 12,081
2nd Support:------ 12,024
1st Resistance:--- 12,247
2nd Resistance:--- 12,356
U.S. TREASURY BONDS AND NOTES
U.S. T-Bonds and T-Notes are slightly lower early today. But bulls still have solid near-term technical momentum on their side, following recent gains to multi-month highs.
December U.S. T-Bonds: Shorter-term moving averages (4- 9- 18-day) are bullish today. The 4-day moving average is above the 9-day. The 9-day is above the 18-day moving average. Oscillators (RSI, slow stochastics) are neutral early today. Shorter-term technical resistance lies at the overnight high of 113 24/32. Buy stops likely reside just above that level. More buy stops likely reside just above technical resistance at last week's high of 113 27/32. Shorter-term technical support lies at the overnight low of 113 15/32. Sell stops likely reside just below that level. More sell stops are likely located below support at 113 8/32. Wyckoff's Intra-Day Market Rating: 6.0
PIVOT POINT LEVELS FOR DECEMBER T-BONDS:
Pivot:----------- 113 12/32
1st Support:----- 113 3/32
2nd Support:----- 112 16/32
1st Resistance:-- 113 31/32
2nd Resistance:-- 114 8/32
December U.S. T-Notes: Shorter-term oscillators (RSI, slow stochastics) are bearish early today. Buy stops likely reside just above shorter-term technical resistance at the overnight high of 108.22.0, and more buy stops are likely located just above resistance at the September high of 108.24.0. Shorter-term moving averages are bullish today. The 4-day moving average is above the 9-day. The 9-day is above the 18-day moving average today. Sell stop orders are likely located just below support at the overnight low of 108.16.0, and then more sell stops just below support at Monday's low of 108.05.0. Wyckoff's Intra Day Market Rating: 6.0
PIVOT POINT LEVELS FOR DECEMBER T-NOTES:
Pivot:------------ 108.15.0
1st Support:------ 108.10.0
2nd Support:------ 107.31.0
1st Resistance:--- 108.26.0
2nd Resistance:--- 108.31.0
Monday, November 27--Jim Wyckoff's Early Morning Web Log
OVERNIGHT/EARLY MORNING DEVELOPMENTS
The feature in overnight/early morning trading today is modestely lower U.S. financial markets across the board.
U.S. STOCK INDEXES
The stock indexes are modestly lower in early morning electronic trading. Bulls are fading and need to step up and show some power soon.
December S&P 500: The shorter-term moving averages (4-, 9- and 18-day) are still bullish today. The 4-day moving average is above the 9-day and 18-day, but just barely. The 9-day is above the 18-day moving average. Short-term oscillators (RSI, slow stochastics) are bearish today. Today, shorter-term technical support comes in at Friday's low of 1,400.10. Sell stops likely reside just under that level. More sell stops likely reside under shorter-term technical support at 1,395.00. Upside resistance for active traders today is located at the overnight high of 1,406.00 and then at the contract high of 1,411.00. Buy stops are likely located just above those levels. Wyckoff's Intra-day Market Rating: 5
PIVOT POINT LEVELS FOR DECEMBER S&P 500:
Pivot:------------ 1,403.65
1st Support:------ 1,399.35
2nd Support:------ 1,396.85
1st Resistance:--- 1,407.17
2nd Resistance:--- 1,411.45
December Russell 2000: The shorter-term moving averages (4- 9-and 18-day) are turning bearish today. The 4-day moving average is below the 9-day. The 9-day moving average is above the 18-day. Short-term oscillators (RSI, slow stochastics) are neutral to bearish early today. Today, shorter-term technical support is located at Friday's low of 789.00. Sell stops likely reside just below that level, and then more sell stops are likely located just below technical support at 785.00. On the upside, short-term resistance is seen at Friday's high of 796.50. Buy stops are likely located just above that level. More buy stops are likely located just above resistance at the November high of 798.00. Wyckoff's Intra-Day Market Rating: 5.0
PIVOT POINT LEVELS FOR DECEMBER RUSSELL 2000:
Pivot:------------ 792.45
1st Support:------ 788.35
2nd Support:------ 784.95
1st Resistance:--- 795.90
2nd Resistance:--- 799.95
December Dow: For today, sell stops likely reside just below support at Friday's low of 12,283 and then more stops just below support at 12,250. Buy stops likely reside just above shorter-term technical resistance at Friday's high of 12,340 and then more buy stops just above resistance at the contract high of 12,385. Shorter-term moving averages are still bullish, as the 4-day moving average is above the 9-day and 18-day. The 9-day moving average is above the 18-day moving average. Shorter-term oscillators (RSI, slow stochastics) are bearish today. Wyckoff's Intra-Day Market Rating: 5.0
PIVOT POINT LEVELS FOR DECEMBER DOW:
Pivot:------------ 12,308
1st Support:------ 12,276
2nd Support:------ 12,251
1st Resistance:--- 12,333
2nd Resistance:--- 12,365
U.S. TREASURY BONDS AND NOTES
U.S. T-Bonds and T-Notes are weaker early today. But bulls still have solid near-term technical momentum on their side, following strong closes at multi-month highs on Friday.
December U.S. T-Bonds: Prices hit a fresh nine-month high Friday. Shorter-term moving averages (4- 9- 18-day) are bullish today. The 4-day moving average is above the 9-day. The 9-day is above the 18-day moving average. Oscillators (RSI, slow stochastics) are bearish for today. Shorter-term technical resistance lies at the overnight high of 113 16/32. Buy stops likely reside just above that level. More buy stops likely reside just above technical resistance at Friday's high of 113 27/32. Shorter-term technical support lies at the overnight low of 113 6/32. Sell stops likely reside just below that level. More sell stops are likely located below support at 113 even. Wyckoff's Intra-Day Market Rating: 5.5
PIVOT POINT LEVELS FOR DECEMBER T-BONDS:
Pivot:----------- 113 16/32
1st Support:----- 113 4/32
2nd Support:----- 112 27/32
1st Resistance:-- 113 25/32
2nd Resistance:-- 114 5/32
December U.S. T-Notes: Prices hit a fresh two-month high Friday. Shorter-term oscillators (RSI, slow stochastics) are bearish early today. Buy stops likely reside just above shorter-term technical resistance at the overnight high of 108.16.0, and more buy stops are likely located just above resistance at Friday's high of 108.22.5. Shorter-term moving averages are bullish today. The 4-day moving average is above the 9-day. The 9-day is above the 18-day moving average today. Sell stop orders are likely located just below support at the overnight low of 108.11.0, and then more sell stops just below support at 108.08.0. Wyckoff's Intra Day Market Rating: 5.5
PIVOT POINT LEVELS FOR DECEMBER T-NOTES:
Pivot:------------ 108.17.0
1st Support:------ 108.11.0
2nd Support:------ 108.06.0
1st Resistance:--- 108.22.0
2nd Resistance:--- 108.28.0
Friday, November 24--Jim Wyckoff's Early Morning Web Log
OVERNIGHT/EARLY MORNING DEVELOPMENTS
The feature in overnight/early morning trading today is a sharply lower U.S. dollar versus the other major currencies, partly on news that Fed Chairman Bernanke is traveling to China with Treasury Secretary Paulson, do discuss China's yuan exchange rate. The weaker dollar has pressured the stock market and boosted gold today.
U.S. STOCK INDEXES
The stock indexes are lower in early morning electronic trading. Bulls are now fading a bit.
December S&P 500: The shorter-term moving averages (4-, 9- and 18-day) are still bullish today. The 4-day moving average is above the 9-day and 18-day. The 9-day is above the 18-day moving average. Short-term oscillators (RSI, slow stochastics) are bearish today. Today, shorter-term technical support comes in at the overnight low of 1,400.10. Sell stops likely reside just under that level. More sell stops likely reside under shorter-term technical support at 1,395.00. Upside resistance for active traders today is located at the overnight high of 1,407.00 and then at the contract high of 1,411.00. Buy stops are likely located just above those levels. Wyckoff's Intra-day Market Rating: 5
PIVOT POINT LEVELS FOR DECEMBER S&P 500:
Pivot:------------ 1,408.05
1st Support:------ 1,405.15
2nd Support:------ 1,401.90
1st Resistance:--- 1,411.35
2nd Resistance:--- 1,414.25
December Russell 2000: The shorter-term moving averages (4- 9-and 18-day) are bullish today. The 4-day moving average is above the 9-day and 18-day. The 9-day moving average is above the 18-day. Short-term oscillators (RSI, slow stochastics) are neutral early today. Today, shorter-term technical support is located at Wednesday's low of 792.20. Sell stops likely reside just below that level, and then more sell stops are likely located just below technical support at 785.00. On the upside, short-term resistance is seen at Wednesday's high of 796.75. Buy stops are likely located just above that level. More buy stops are likely located just above resistance at last week's high of 798.00. Wyckoff's Intra-Day Market Rating: 5.5
PIVOT POINT LEVELS FOR DECEMBER RUSSELL 2000:
Pivot:------------ 794.85
1st Support:------ 792.95
2nd Support:------ 780.30
1st Resistance:--- 797.50
2nd Resistance:--- 799.40
December Dow: For today, sell stops likely reside just below support at Tuesday's low of 12,320 and then more stops just below support at 12,300. Buy stops likely reside just above shorter-term technical resistance at the contract high of 12,385 and then more buy stops just above resistance at 12,400. Shorter-term moving averages are bullish, as the 4-day moving average is above the 9-day and 18-day. The 9-day moving average is above the 18-day moving average. Shorter-term oscillators (RSI, slow stochastics) are neutral to bearish today. Wyckoff's Intra-Day Market Rating: 5.5
PIVOT POINT LEVELS FOR DECEMBER DOW:
Pivot:------------ 12,355
1st Support:------ 12,324
2nd Support:------ 12,295
1st Resistance:--- 12,384
2nd Resistance:--- 12,415
U.S. TREASURY BONDS AND NOTES
U.S. T-Bonds and T-Notes are solidly higher early today. Bulls have solid near-term technical momentum on their side.
December U.S. T-Bonds: Prices hit a fresh nine-month high early today. Shorter-term moving averages (4- 9- 18-day) are bullish today. The 4-day moving average is above the 9-day. The 9-day is above the 18-day moving average. Oscillators (RSI, slow stochastics) are bullish for today. Shorter-term technical resistance lies at 113 19/32. Buy stops likely reside just above that level. More buy stops likely reside just above technical resistance at the overnight high of 113 27/32. Shorter-term technical support lies at 113 8/32. Sell stops likely reside just below that level. More sell stops are likely located below support at 113 even. Wyckoff's Intra-Day Market Rating: 8.5
PIVOT POINT LEVELS FOR DECEMBER T-BONDS:
Pivot:----------- 113 6/32
1st Support:----- 113 2/32
2nd Support:----- 112 28/32
1st Resistance:-- 113 12/32
2nd Resistance:-- 113 16/32
December U.S. T-Notes: Prices hit a fresh two-month high overnight. Shorter-term oscillators (RSI, slow stochastics) are bullish early today. Buy stops likely reside just above shorter-term technical resistance at today's high of 108.22.5, and more buy stops are likely located just above resistance at the September high of 108.24.0. Shorter-term moving averages are bullish today. The 4-day moving average is above the 9-day. The 9-day is above the 18-day moving average today. Sell stop orders are likely located just below support at today's low of 108.11.5, and then more sell stops just below support at 108.08.0. Wyckoff's Intra Day Market Rating: 8.5
PIVOT POINT LEVELS FOR DECEMBER T-NOTES:
Pivot:------------ 108.13.0
1st Support:------ 108.10.0
2nd Support:------ 108.06.0
1st Resistance:--- 108.17.0
2nd Resistance:--- 108.20.0
Wednesday, November 22--Jim Wyckoff's Early Morning Web Log
OVERNIGHT/EARLY MORNING DEVELOPMENTS
There is no real feature in overnight/early morning trading today. Trading is likely to be quieter today, heading into the Thanksgiving holiday Thursday.
U.S. STOCK INDEXES
The stock indexes are slightly higher in early morning electronic trading. Bulls still have near-term technical momentum on their side.
December S&P 500: The shorter-term moving averages (4-, 9- and 18-day) are bullish today. The 4-day moving average is above the 9-day and 18-day. The 9-day is above the 18-day moving average. Short-term oscillators (RSI, slow stochastics) are neutral to bullish today. Today, shorter-term technical support comes in at Tuesday's low of 1,402.80. Sell stops likely reside just under that level. More sell stops likely reside under shorter-term technical support at this week's low of 1,399.10. Upside resistance for active traders today is located at 1,410.00 and then at 1,415.00. Buy stops are likely located just above those levels. Wyckoff's Intra-day Market Rating: 8
PIVOT POINT LEVELS FOR DECEMBER S&P 500:
Pivot:------------ 1,405.30
1st Support:------ 1,403.70
2nd Support:------ 1,401.20
1st Resistance:--- 1,407.80
2nd Resistance:--- 1,409.40
December Russell 2000: The shorter-term moving averages (4- 9-and 18-day) are bullish today. The 4-day moving average is above the 9-day and 18-day. The 9-day moving average is above the 18-day. Short-term oscillators (RSI, slow stochastics) are neutral early today. Today, shorter-term technical support is located at Tuesday's low of 790.00. Sell stops likely reside just below that level, and then more sell stops are likely located just below technical support at 785.00. On the upside, short-term resistance is seen at Tuesday's high of 795.25. Buy stops are likely located just above that level. More buy stops are likely located just above resistance at last week's high of 798.00. Wyckoff's Intra-Day Market Rating: 7.5
PIVOT POINT LEVELS FOR DECEMBER RUSSELL 2000:
Pivot:------------ 793.30
1st Support:------ 791.30
2nd Support:------ 788.00
1st Resistance:--- 796.60
2nd Resistance:--- 798.55
December Dow: For today, sell stops likely reside just below support at Tuesday's low of 12,320 and then more stops just below support at 12,300. Buy stops likely reside just above shorter-term technical resistance at Monday's contract high of 12,385 and then more buy stops just above resistance at 12,400. Shorter-term moving averages are bullish, as the 4-day moving average is above the 9-day and 18-day. The 9-day moving average is above the 18-day moving average. Shorter-term oscillators (RSI, slow stochastics) are neutral to bearish today. Wyckoff's Intra-Day Market Rating: 8.0
PIVOT POINT LEVELS FOR DECEMBER DOW:
Pivot:------------ 12,344
1st Support:------ 12,323
2nd Support:------ 12,298
1st Resistance:--- 12,369
2nd Resistance:--- 12,390
U.S. TREASURY BONDS AND NOTES
U.S. T-Bonds and T-Notes are near steady early today. Bulls still have some near-term technical momentum on their side.
December U.S. T-Bonds: Shorter-term moving averages (4- 9- 18-day) are bullish today. The 4-day moving average is above the 9-day. The 9-day is above the 18-day moving average. Oscillators (RSI, slow stochastics) are neutral to bullish for today. Shorter-term technical resistance lies at Tuesday's high of 113 8/32. Buy stops likely reside just above that level. More buy stops likely reside just above technical resistance at the November high of 113 19/32. Shorter-term technical support lies at 113 even. Sell stops likely reside just below that level. More sell stops are likely located below support at Tuesday's low of 112 23/32. Wyckoff's Intra-Day Market Rating: 6.5
PIVOT POINT LEVELS FOR DECEMBER T-BONDS:
Pivot:----------- 113 1/32
1st Support:----- 112 27/32
2nd Support:----- 112 16/32
1st Resistance:-- 113 12/32
2nd Resistance:-- 113 18/32
December U.S. T-Notes: Shorter-term oscillators (RSI, slow stochastics) are neutral early today. Buy stops likely reside just above shorter-term technical resistance at Tuesday's high of 108.12.5, and more buy stops are likely located just above resistance at last week's high of 108.18.5. Shorter-term moving averages are bullish today. The 4-day moving average is above the 9-day. The 9-day is above the 18-day moving average today. Sell stop orders are likely located just below support at Tuesday's low of 108.03.0, and then more sell stops just below support at 107.28.0. Wyckoff's Intra Day Market Rating: 6.5
PIVOT POINT LEVELS FOR DECEMBER T-NOTES:
Pivot:------------ 108.09.0
1st Support:------ 108.06.0
2nd Support:------ 107.31.0
1st Resistance:--- 108.16.0
2nd Resistance:--- 108.19.0
Tuesday, November 21--Jim Wyckoff's Early Morning Web Log
OVERNIGHT/EARLY MORNING DEVELOPMENTS
There is no real feature in overnight/early morning trading today. Trading is likely to be quieter heading into the Thanksgiving holiday.
U.S. STOCK INDEXES
The stock indexes are slightly higher in early morning electronic trading. Bulls still have some near-term technical momentum on their side.
December S&P 500: The shorter-term moving averages (4-, 9- and 18-day) are bullish today. The 4-day moving average is above the 9-day and 18-day. The 9-day is above the 18-day moving average. Short-term oscillators (RSI, slow stochastics) are neutral today. Today, shorter-term technical support comes in at Monday's low of 1,399.10. Sell stops likely reside just under that level. More sell stops likely reside under shorter-term technical support at 1,395.00. Upside resistance for active traders today is located at Monday's contract high of 1,407.90 and then at 1,410.00. Buy stops are likely located just above those levels. Wyckoff's Intra-day Market Rating: 7
PIVOT POINT LEVELS FOR DECEMBER S&P 500:
Pivot:------------ 1,401.10
1st Support:------ 1,400.30
2nd Support:------ 1,395.30
1st Resistance:--- 1,409.10
2nd Resistance:--- 1,412.90
December Russell 2000: The shorter-term moving averages (4- 9-and 18-day) are bullish today. The 4-day moving average is above the 9-day and 18-day. The 9-day moving average is above the 18-day. Short-term oscillators (RSI, slow stochastics) are neutral early today. Today, shorter-term technical support is located at Monday's low of 788.50. Sell stops likely reside just below that level, and then more sell stops are likely located just below technical support at 785.00. On the upside, short-term resistance is seen at Monday's high of 794.75. Buy stops are likely located just above that level. More buy stops are likely located just above resistance at last week's high of 798.00. Wyckoff's Intra-Day Market Rating: 7.0
PIVOT POINT LEVELS FOR DECEMBER RUSSELL 2000:
Pivot:------------ 792.20
1st Support:------ 789.70
2nd Support:------ 786.00
1st Resistance:--- 795.95
2nd Resistance:--- 798.50
December Dow: For today, sell stops likely reside just below support at Monday's low of 12,332 and then more stops just below support at 12,300. Buy stops likely reside just above shorter-term technical resistance at Monday's contract high of 12,385 and then more buy stops just above resistance at 12,400. Shorter-term moving averages are bullish, as the 4-day moving average is above the 9-day and 18-day. The 9-day moving average is above the 18-day moving average. Shorter-term oscillators (RSI, slow stochastics) are neutral today. Wyckoff's Intra-Day Market Rating: 8.0
PIVOT POINT LEVELS FOR DECEMBER DOW:
Pivot:------------ 12,356
1st Support:------ 12,328
2nd Support:------ 12,303
1st Resistance:--- 12,381
2nd Resistance:--- 12,409
U.S. TREASURY BONDS AND NOTES
U.S. T-Bonds and T-Notes are weaker early today. Bulls still have some near-term technical momentum on their side.
December U.S. T-Bonds: Shorter-term moving averages (4- 9- 18-day) are neutral today. The 4-day moving average is below the 9-day. The 9-day is above the 18-day moving average. Oscillators (RSI, slow stochastics) are neutral to bullish for today. Shorter-term technical resistance lies at the overnight high of 113 1/32. Buy stops likely reside just above that level. More buy stops likely reside just above technical resistance at Monday's high of 113 4/32. Shorter-term technical support lies at 112 24/32. Sell stops likely reside just below that level. More sell stops are likely located below support at 112 16/32. Wyckoff's Intra-Day Market Rating: 6.0
PIVOT POINT LEVELS FOR DECEMBER T-BONDS:
Pivot:----------- 112 29/32
1st Support:----- 112 22/32
2nd Support:----- 112 15/32
1st Resistance:-- 113 4/32
2nd Resistance:-- 113 11/32
December U.S. T-Notes: Shorter-term oscillators (RSI, slow stochastics) are neutral to bullish early today. Buy stops likely reside just above shorter-term technical resistance at the overnight high of 108.09.0, and more buy stops are likely located just above resistance at last week's high of 108.18.5. Shorter-term moving averages are neutral today. The 4-day moving average is below the 9-day. The 9-day is above the 18-day moving average today. Sell stop orders are likely located just below support at 108.00.0, and then more sell stops just below support at last week's low of 107.20.5. Wyckoff's Intra Day Market Rating: 6.0
PIVOT POINT LEVELS FOR DECEMBER T-NOTES:
Pivot:------------ 108.07.0
1st Support:------ 108.03.0
2nd Support:------ 107.31.0
1st Resistance:--- 108.11.0
2nd Resistance:--- 108.15.0
Monday, November 20--Jim Wyckoff's Early Morning Web Log
OVERNIGHT/EARLY MORNING DEVELOPMENTS
There is no real feature in overnight/early morning trading today.
U.S. STOCK INDEXES
The stock indexes are slightly lower in quiet early morning electronic trading. Bulls still have some near-term technical momentum on their side.
December S&P 500: The shorter-term moving averages (4-, 9- and 18-day) are bullish today. The 4-day moving average is above the 9-day and 18-day. The 9-day is above the 18-day moving average. Short-term oscillators (RSI, slow stochastics) are bearish today. Today, shorter-term technical support comes in at Friday's low of 1,398.20. Sell stops likely reside just under that level. More sell stops likely reside under shorter-term technical support at 1,395.00. Upside resistance for active traders today is located at the overnight high of 1,403.20 and then at last week's high of 1,407.80. Buy stops are likely located just above those levels. Wyckoff's Intra-day Market Rating: 7
PIVOT POINT LEVELS FOR DECEMBER S&P 500:
Pivot:------------ 1,402.75
1st Support:------ 1,400.25
2nd Support:------ 1,395.75
1st Resistance:--- 1,407.25
2nd Resistance:--- 1,409.75
December Russell 2000: The shorter-term moving averages (4- 9-and 18-day) are bullish today. The 4-day moving average is above the 9-day and 18-day. The 9-day moving average is above the 18-day. Short-term oscillators (RSI, slow stochastics) are bearish early today. Today, shorter-term technical support is located at Friday's low of 785.50. Sell stops likely reside just below that level, and then more sell stops are likely located just below technical support at 780.00. On the upside, short-term resistance is seen at Friday's high of 792.70. Buy stops are likely located just above that level. More buy stops are likely located just above resistance at last week's high of 798.00. Wyckoff's Intra-Day Market Rating: 7.0
PIVOT POINT LEVELS FOR DECEMBER RUSSELL 2000:
Pivot:------------ 790.30
1st Support:------ 787.90
2nd Support:------ 783.10
1st Resistance:--- 795.10
2nd Resistance:--- 797.50
December Dow: For today, sell stops likely reside just below support at Friday's low of 12,310 and then more stops just below support at Thursday's low of 12,283. Buy stops likely reside just above shorter-term technical resistance at Friday's contract high of 12,375 and then more buy stops just above resistance at 12,400. Shorter-term moving averages are bullish, as the 4-day moving average is above the 9-day and 18-day. The 9-day moving average is above the 18-day moving average. Shorter-term oscillators (RSI, slow stochastics) are neutral to bullish for today. Wyckoff's Intra-Day Market Rating: 8.0
PIVOT POINT LEVELS FOR DECEMBER DOW:
Pivot:------------ 12,351
1st Support:------ 12,327
2nd Support:------ 12,286
1st Resistance:--- 12,392
2nd Resistance:--- 12,416
U.S. TREASURY BONDS AND NOTES
U.S. T-Bonds and T-Notes are higher early today. Bulls have regained some near-term technical momentum.
December U.S. T-Bonds: Shorter-term moving averages (4- 9- 18-day) are neutral today. The 4-day moving average is below the 9-day. The 9-day is above the 18-day moving average. Oscillators (RSI, slow stochastics) are neutral to bullish for today. Shorter-term technical resistance lies at the overnight high of 113 4/32. Buy stops likely reside just above that level. More buy stops likely reside just above technical resistance at 113 12/32. Shorter-term technical support lies at 112 24/32. Sell stops likely reside just below that level. More sell stops are likely located below support at 112 16/32. Wyckoff's Intra-Day Market Rating: 6.5
PIVOT POINT LEVELS FOR DECEMBER T-BONDS:
Pivot:----------- 112 22/32
1st Support:----- 112 9/32
2nd Support:----- 111 23/32
1st Resistance:-- 113 8/32
2nd Resistance:-- 113 21/32
December U.S. T-Notes: Shorter-term oscillators (RSI, slow stochastics) are bullish early today. Buy stops likely reside just above shorter-term technical resistance at the overnight high of 107.10.5, and more buy stops are likely located just above resistance at last week's high of 108.18.5. Shorter-term moving averages are neutral today. The 4-day moving average is below the 9-day. The 9-day is above the 18-day moving average today. Sell stop orders are likely located just below support at 108.00.0, and then more sell stops just below support at last week's low of 107.20.5. Wyckoff's Intra Day Market Rating: 6.5
PIVOT POINT LEVELS FOR DECEMBER T-NOTES:
Pivot:------------ 108.02.0
1st Support:------ 107.26.0
2nd Support:------ 107.13.0
1st Resistance:--- 108.15.0
2nd Resistance:--- 108.23.0
Friday, November 17--Jim Wyckoff's Early Morning Web Log
OVERNIGHT/EARLY MORNING DEVELOPMENTS
NOTE: I'm back from giving a presentation Wednesday at the first "Traders Summit" in Las Vegas, sponsored by the CBOT, CME and NYMEX. I do enjoy providing eager traders education, and always enjoy seeing old friends in the industry. However, I also really miss serving you, my valued readers. I hope you missed me as much as I missed not working for you!--Jim
The feature in overnight/early morning trading today is solidly lower crude oil and gold prices.
U.S. STOCK INDEXES
The stock indexes are slightly lower in quiet early morning electronic trading. Bulls still have near-term technical momentum on their side.
December S&P 500: The shorter-term moving averages (4-, 9- and 18-day) are bullish today. The 4-day moving average is above the 9-day and 18-day. The 9-day is above the 18-day moving average. Short-term oscillators (RSI, slow stochastics) are bearish today. Today, shorter-term technical support comes in at Thursday's low of 1,399.30. Sell stops likely reside just under that level. More sell stops likely reside under shorter-term technical support at 1,396.50. Upside resistance for active traders today is located at Thursday's contract high of 1,407.80 and then at 1,410.00. Buy stops are likely located just above those levels. Wyckoff's Intra-day Market Rating: 8
PIVOT POINT LEVELS FOR DECEMBER S&P 500:
Pivot:------------ 1,404.10
1st Support:------ 1,400.35
2nd Support:------ 1,395.60
1st Resistance:--- 1,408.85
2nd Resistance:--- 1,412.60
December Russell 2000: The shorter-term moving averages (4- 9-and 18-day) are bullish today. The 4-day moving average is above the 9-day and 18-day. The 9-day moving average is above the 18-day. Short-term oscillators (RSI, slow stochastics) are neutral to bullish early today. Today, shorter-term technical support is located at 790.00. Sell stops likely reside just below that level, and then more sell stops are likely located just below technical support at 786.75. On the upside, short-term resistance is seen at Thursday's high of 798.00. Buy stops are likely located just above that level. More buy stops are likely located just above resistance at 800.00. Wyckoff's Intra-Day Market Rating: 8.0
PIVOT POINT LEVELS FOR DECEMBER RUSSELL 2000:
Pivot:------------ 794.40
1st Support:------ 790.80
2nd Support:------ 788.40
1st Resistance:--- 796.80
2nd Resistance:--- 800.40
December Dow: For today, sell stops likely reside just below support at 12,300 and then more stops just below support at Thursday's low of 12,283. Buy stops likely reside just above shorter-term technical resistance at Thursday's contract high of 12,358 and then more buy stops just above resistance at 12,400. Shorter-term moving averages are bullish, as the 4-day moving average is above the 9-day and 18-day. The 9-day moving average is above the 18-day moving average. Shorter-term oscillators (RSI, slow stochastics) are bullish for today. Wyckoff's Intra-Day Market Rating: 8.0
PIVOT POINT LEVELS FOR DECEMBER DOW:
Pivot:------------ 12,330
1st Support:------ 12,303
2nd Support:------ 12,255
1st Resistance:--- 12,368
2nd Resistance:--- 12,405
U.S. TREASURY BONDS AND NOTES
U.S. T-Bonds and T-Notes are slightly higher early today. Bulls are fading and do not want to see a weekly low close on Friday.
December U.S. T-Bonds: Shorter-term moving averages (4- 9- 18-day) are neutral today. The 4-day moving average is above the 9-day and 18-day, but is turning down. The 9-day is above the 18-day moving average. Oscillators (RSI, slow stochastics) are neutral to bearish for today. Shorter-term technical resistance lies at the overnight high of 112 16/32. Buy stops likely reside just above that level. More buy stops likely reside just above technical resistance at 112 24/32. Shorter-term technical support lies at Thursday's low of 112 3/32. Sell stops likely reside just below that level. More sell stops are likely located below support at 112 even. Wyckoff's Intra-Day Market Rating: 5.5
PIVOT POINT LEVELS FOR DECEMBER T-BONDS:
Pivot:----------- 112 19/32
1st Support:----- 111 26/32
2nd Support:----- 111 10/32
1st Resistance:-- 113 3/32
2nd Resistance:-- 113 28/32
December U.S. T-Notes: Shorter-term oscillators (RSI, slow stochastics) are neutral to bearish for today. Buy stops likely reside just above shorter-term technical resistance at the overnight high of 107.29.5, and more buy stops are likely located just above resistance at 108.00.0. Shorter-term moving averages are neutral today. The 4-day moving average is below the 9-day. The 9-day is above the 18-day moving average today. Sell stop orders are likely located just below support at Thursday's low of 107.20.5, and then more sell stops just below support at 107.16.0. Wyckoff's Intra Day Market Rating: 5.5
PIVOT POINT LEVELS FOR DECEMBER T-NOTES:
Pivot:------------ 107.31.0
1st Support:------ 107.14.0
2nd Support:------ 107.05.0
1st Resistance:--- 108.08.0
2nd Resistance:--- 108.25.0
CURRENCIES
The December U.S. dollar index is slightly lower in quiet early trading. Bears still have the near-term technical advantage. Slow stochastics are bullish for today. The dollar index finds shorter-term technical resistance at the overnight high of 85.19 and then at Monday's high of 85.28. Shorter-term support is seen at the overnight low of 84.98 and then at Monday's low of 84.72. Wyckoff's Intra Day Market Rating: 4.0
The December Euro is slightly higher in early electronic trading. The Euro finds sell stop orders are likely located just below technical support at the overnight low of 1.2825 and then more stops just below support at 1.2800. Shorter-term technical resistance for the Euro is seen at the overnight high of 1.2867 and then at 1.2900. Buy stops likely reside just above those levels. Slow stochastics for the Euro are bearish for today. Wyckoff's Intra Day Market Rating: 6.0
METALS
Gold is trading near steady in quiet trading early today. In December gold, shorter-term technical support is seen at the overnight low of $623.20 and then at $620.00. Sell stops likely reside just below those levels. Buy stops likely reside just above resistance at the overnight high of $628.50 and then more buy stops just above technical resistance at $630.00. Wyckoff's Intra-Day Market Rating: 5.0
CRUDE OIL
Crude oil prices are slightly higher in early electronic dealings. In December crude, look for buy stops to reside just above resistance at $59.50 and then just above resistance at $60.00. Look for sell stops just below technical support at Monday's low of $58.25, and then more sell stops just below support at $58.00. Wyckoff's Intra-Day Market Rating: 3.0
GRAINS
Prices were mixed overnight. Bulls are fading a bit, but nothing serious…yet. Recent losses in the grains are a first warning shot that tops may be close at hand. Keep a close watch on the closes of the markets. Closes near the session low are another warning that the uptrends are losing strength. Key, also, is if the bulls will step in to strongly buy the dips.
Monday, November 13--Jim Wyckoff's Early Morning Web Log
OVERNIGHT/EARLY MORNING DEVELOPMENTS
NOTE: I will be out of the office Wednesday and Thursday. I am honored that the Chicago Board of Trade and Chicago Mercantile Exchange have asked me to represent their ag markets for a presentation at the first "Traders Summit" in Las Vegas. I'll be back in the office bright and early Friday morning. My friend and fellow trader/analyst Ken Seehusen will produce this report Wednesday and Thursday. Ken's report may be posted a bit later than mine and it won't be exactly like mine, but I think you will benefit from his work.--Jim
There was no real feature in overnight/early morning trading today, as markets were quiet ahead of today's reports.
U.S. STOCK INDEXES
The stock indexes are slightly higher in quiet early morning electronic trading. Bulls still have some near-term technical momentum on their side.
December S&P 500: The shorter-term moving averages (4-, 9- and 18-day) are bullish today. The 4-day moving average is above the 9-day and 18-day. The 9-day is slightly above the 18-day moving average. Short-term oscillators (RSI, slow stochastics) are neutral to bullish today. Today, shorter-term technical support comes in at Monday's low of 1,382.70. Sell stops likely reside just under that level. More sell stops likely reside under shorter-term technical support at last Friday's low of 1,379.50. Upside resistance for active traders today is located at the overnight high of 1,391.90 and then at 1,395.00. Buy stops are likely located just above those levels. Wyckoff's Intra-day Market Rating: 7
PIVOT POINT LEVELS FOR DECEMBER S&P 500:
Pivot:------------ 1,387.65
1st Support:------ 1,383.05
2nd Support:------ 1,378.15
1st Resistance:--- 1,392.60
2nd Resistance:--- 1,397.15
December Russell 2000: The shorter-term moving averages (4- 9-and 18-day) are neutral today. The 4-day moving average is above the 9-day and 18-day. The 9-day moving average is below the 18-day. Short-term oscillators (RSI, slow stochastics) are neutral to bullish early today. Today, shorter-term technical support is located at 768.00. Sell stops likely reside just below that level, and then more sell stops are likely located just below technical support at Friday's low of 763.50. On the upside, short-term resistance is seen at Monday's high of 776.50. Buy stops are likely located just above that level. More buy stops are likely located just above resistance at the October high of 780.00. Wyckoff's Intra-Day Market Rating: 6.5
PIVOT POINT LEVELS FOR DECEMBER RUSSELL 2000:
Pivot:------------ 773.75
1st Support:------ 771.00
2nd Support:------ 768.20
1st Resistance:--- 776.55
2nd Resistance:--- 779.30
December Dow: For today, sell stops likely reside just below support at Monday's low of 12,118 and then more stops just below support at 12,050. Buy stops likely reside just above shorter-term technical resistance at Monday's high of 12,205 and then more buy stops just above resistance at last week's contract high of 12,220. Shorter-term moving averages are neutral, as the 4-day moving average is above the 9-day and 18-day. The 9-day moving average is below the 18-day moving average. Shorter-term oscillators (RSI, slow stochastics) are bullish for today. Wyckoff's Intra-Day Market Rating: 8.0
PIVOT POINT LEVELS FOR DECEMBER DOW:
Pivot:------------ 12,161
1st Support:------ 12,116
2nd Support:------ 12,074
1st Resistance:--- 12,203
2nd Resistance:--- 12,248
U.S. TREASURY BONDS AND NOTES
U.S. T-Bonds and T-Notes are slightly lower early today. Bulls still have the near-term technical advantage.
December U.S. T-Bonds: Shorter-term moving averages (4- 9- 18-day) are bullish today. The 4-day moving average is above the 9-day and 18-day. The 9-day is above the 18-day moving average. Oscillators (RSI, slow stochastics) are neutral for today. Shorter-term technical resistance lies at the 113 even. Buy stops likely reside just above that level. More buy stops likely reside just above technical resistance at Monday's high of 113 6/32. Shorter-term technical support lies at the overnight low of 112 16/32. Sell stops likely reside just below that level. More sell stops are likely located below support at 112 8/32. Wyckoff's Intra-Day Market Rating: 7.0
PIVOT POINT LEVELS FOR DECEMBER T-BONDS:
Pivot:----------- 112 26/32
1st Support:----- 112 14/32
2nd Support:----- 112 2/32
1st Resistance:-- 113 6/32
2nd Resistance:-- 113 18/32
December U.S. T-Notes: Shorter-term oscillators (RSI, slow stochastics) are neutral to bearish for today. Buy stops likely reside just above shorter-term technical resistance at 108.08.0, and more buy stops are likely located just above resistance at Monday's high of 108.14.0. Shorter-term moving averages are bullish today. The 4-day moving average is above the 9-day. The 9-day is above the 18-day moving average today. Sell stop orders are likely located just below support at the overnight low of 107.30.0, and then more sell stops just below support at 107.24.0. Wyckoff's Intra Day Market Rating: 7.0
PIVOT POINT LEVELS FOR DECEMBER T-NOTES:
Pivot:------------ 108.06.0
1st Support:------ 107.29.0
2nd Support:------ 107.22.0
1st Resistance:--- 108.13.0
2nd Resistance:--- 108.22.0
Monday, November 13--Jim Wyckoff's Early Morning Web Log
OVERNIGHT/EARLY MORNING DEVELOPMENTS
The feature in overnight/early morning trading today is lower gold and crude oil prices.
U.S. STOCK INDEXES
The stock indexes are narrowly mixed in quiet early morning electronic trading. Bulls still have some near-term technical momentum on their side.
December S&P 500: The shorter-term moving averages (4-, 9- and 18-day) are neutral today. The 4-day moving average is above the 9-day and 18-day. The 9-day is slightly below the 18-day moving average. Short-term oscillators (RSI, slow stochastics) are bearish today. Today, shorter-term technical support comes in at the overnight low of 1,382.70. Sell stops likely reside just under that level. More sell stops likely reside under shorter-term technical support at Friday's low of 1,379.50. Upside resistance for active traders today is located at the overnight high of 1,386.30 and then at 1,390.00. Buy stops are likely located just above those levels. Wyckoff's Intra-day Market Rating: 6
PIVOT POINT LEVELS FOR DECEMBER S&P 500:
Pivot:------------ 1,383.50
1st Support:------ 1,380.80
2nd Support:------ 1,376.80
1st Resistance:--- 1,387.50
2nd Resistance:--- 1,390.20
December Russell 2000: The shorter-term moving averages (4- 9-and 18-day) are neutral today. The 4-day moving average is above the 9-day and 18-day. The 9-day moving average is below the 18-day. Short-term oscillators (RSI, slow stochastics) are neutral early today. Today, shorter-term technical support is located at 768.00. Sell stops likely reside just below that level, and then more sell stops are likely located just below technical support at Friday's low of 763.50. On the upside, short-term resistance is seen at last week's high of 775.75. Buy stops are likely located just above that level. More buy stops are likely located just above resistance at the October high of 780.00. Wyckoff's Intra-Day Market Rating: 6.0
PIVOT POINT LEVELS FOR DECEMBER RUSSELL 2000:
Pivot:------------ 769.65
1st Support:------ 766.45
2nd Support:------ 760.25
1st Resistance:--- 775.85
2nd Resistance:--- 779.05
December Dow: For today, sell stops likely reside just below support at Friday's low of 12,100 and then more stops just below support at 12,050. Buy stops likely reside just above shorter-term technical resistance at 12,175 and then more buy stops just above resistance at last week's contract high of 12,220. Shorter-term moving averages are neutral, as the 4-day moving average is above the 9-day and 18-day. The 9-day moving average is below the 18-day moving average. Shorter-term oscillators (RSI, slow stochastics) are neutral for today. Wyckoff's Intra-Day Market Rating: 6.0
PIVOT POINT LEVELS FOR DECEMBER DOW:
Pivot:------------ 12,128
1st Support:------ 12,105
2nd Support:------ 12,068
1st Resistance:--- 12,155
2nd Resistance:--- 12,178
U.S. TREASURY BONDS AND NOTES
U.S. T-Bonds and T-Notes are firmer early today. Bulls have the solid near-term technical advantage.
December U.S. T-Bonds: Shorter-term moving averages (4- 9- 18-day) are bullish today. The 4-day moving average is above the 9-day and 18-day. The 9-day is above the 18-day moving average. Oscillators (RSI, slow stochastics) are bullish for today. Shorter-term technical resistance lies at the overnight high of 113 6/32. Buy stops likely reside just above that level. More buy stops likely reside just above technical resistance at the September high of 113 11/32. Shorter-term technical support lies at the overnight low of 112 29/32. Sell stops likely reside just below that level. More sell stops are likely located below support at 112 24/32. Wyckoff's Intra-Day Market Rating: 8.0
PIVOT POINT LEVELS FOR DECEMBER T-BONDS:
Pivot:----------- 112 28/32
1st Support:----- 112 19/32
2nd Support:----- 112 7/32
1st Resistance:-- 113 8/32
2nd Resistance:-- 113 17/32
December U.S. T-Notes: Shorter-term oscillators (RSI, slow stochastics) are bullish for today. Buy stops likely reside just above shorter-term technical resistance at the overnight high of 108.14.0, and more buy stops are likely located just above resistance at this month's high of 108.19.5. Shorter-term moving averages are bullish today. The 4-day moving average is above the 9-day. The 9-day is above the 18-day moving average today. Sell stop orders are likely located just below support at the overnight low of 108.08.0, and then more sell stops just below support at 108.00.0. Wyckoff's Intra Day Market Rating: 8.0
PIVOT POINT LEVELS FOR DECEMBER T-NOTES:
Pivot:------------ 108.08.0
1st Support:------ 108.03.0
2nd Support:------ 107.30.0
1st Resistance:--- 108.13.0
2nd Resistance:--- 108.18.0
Friday, November 10--Jim Wyckoff's Early Morning Web Log
OVERNIGHT/EARLY MORNING DEVELOPMENTS
The feature in overnight/early morning trading today is higher stock index and Treasury prices.
U.S. STOCK INDEXES
The stock indexes are firmer in early morning electronic trading. Bulls still have near-term technical momentum on their side.
December S&P 500: The shorter-term moving averages (4-, 9- and 18-day) are neutral today. The 4-day moving average is above the 9-day and 18-day. The 9-day is slightly below the 18-day moving average. Short-term oscillators (RSI, slow stochastics) are neutral today. Today, shorter-term technical support comes in at the overnight low of 1,382.00. Sell stops likely reside just under that level. More sell stops likely reside under shorter-term technical support at 1,380.00. Upside resistance for active traders today is located at 1,390.00 and then at this week's high of 1,393.50. Buy stops are likely located just above those levels. Wyckoff's Intra-day Market Rating: 6
PIVOT POINT LEVELS FOR DECEMBER S&P 500:
Pivot:------------ 1,386.25
1st Support:------ 1,378.95
2nd Support:------ 1,373.95
1st Resistance:--- 1,391.25
2nd Resistance:--- 1,398.55
December Russell 2000: The shorter-term moving averages (4- 9-and 18-day) are neutral today. The 4-day moving average is above the 9-day and 18-day. The 9-day moving average is below the 18-day. Short-term oscillators (RSI, slow stochastics) are neutral early today. Today, shorter-term technical support is located at Thursday's low of 760.00. Sell stops likely reside just below that level, and then more sell stops are likely located just below technical support at this week's low of 755.60. On the upside, short-term resistance is seen at 770.00. Buy stops are likely located just above that level. More buy stops are likely located just above resistance at this week's high of 775.75. Wyckoff's Intra-Day Market Rating: 5.0
PIVOT POINT LEVELS FOR DECEMBER RUSSELL 2000:
Pivot:------------ 766.85
1st Support:------ 758.85
2nd Support:------ 752.00
1st Resistance:--- 773.70
2nd Resistance:--- 781.70
December Dow: For today, sell stops likely reside just below support at Thursday's low of 12,115 and then more stops just below support at 12,050. Buy stops likely reside just above shorter-term technical resistance at this week's contract high of 12,220 and then more buy stops just above resistance at 12,250. Shorter-term moving averages are bullish, as the 4-day moving average is above the 9-day and 18-day. The 9-day moving average is above the 18-day moving average. Shorter-term oscillators (RSI, slow stochastics) are neutral for today. Wyckoff's Intra-Day Market Rating: 6.0
PIVOT POINT LEVELS FOR DECEMBER DOW:
Pivot:------------ 12,157
1st Support:------ 12,099
2nd Support:------ 12,057
1st Resistance:--- 12,199
2nd Resistance:--- 12,257
U.S. TREASURY BONDS AND NOTES
U.S. T-Bonds and T-Notes are firmer early today. Bulls still have the near-term technical advantage.
December U.S. T-Bonds: Price action has formed a bullish symmetrical triangle this week. Shorter-term moving averages (4- 9- 18-day) are bullish today. The 4-day moving average is above the 9-day and 18-day. The 9-day is above the 18-day moving average. Oscillators (RSI, slow stochastics) are neutral to bullish for today. Shorter-term technical resistance lies at the overnight high of 112 27/32. Buy stops likely reside just above that level. More buy stops likely reside just above technical resistance at 113 even. Shorter-term technical support lies at the overnight low of 112 16/32. Sell stops likely reside just below that level. More sell stops are likely located below support at Thursday's low of 112 10/32. Wyckoff's Intra-Day Market Rating: 7.5
PIVOT POINT LEVELS FOR DECEMBER T-BONDS:
Pivot:----------- 112 16/32
1st Support:----- 112 11/32
2nd Support:----- 112 4/32
1st Resistance:-- 112 23/32
2nd Resistance:-- 112 28/32
December U.S. T-Notes: Price action this week has formed a bullish symmetrical triangle. Shorter-term oscillators (RSI, slow stochastics) are bullish for today. Buy stops likely reside just above shorter-term technical resistance at the overnight high of 108.08.0, and more buy stops are likely located just above resistance at 108.16.0. Shorter-term moving averages are bullish today. The 4-day moving average is above the 9-day. The 9-day is above the 18-day moving average today. Sell stop orders are likely located just below support at the overnight low of 108.01.5, and then more sell stops just below support at Thursday's low of 107.28.5. Wyckoff's Intra Day Market Rating: 7.5
PIVOT POINT LEVELS FOR DECEMBER T-NOTES:
Pivot:------------ 108.02.0
1st Support:------ 107.30.0
2nd Support:------ 107.26.0
1st Resistance:--- 108.06.0
2nd Resistance:--- 108.10.0
Thursday, November 9--Jim Wyckoff's Early Morning Web Log
OVERNIGHT/EARLY MORNING DEVELOPMENTS
The feature in overnight/early morning trading today is moderately higher crude oil and gold prices.
U.S. STOCK INDEXES
The stock indexes are narrowly mixed in quieter early morning electronic trading. Bulls still have near-term technical momentum on their side.
December S&P 500: The shorter-term moving averages (4-, 9- and 18-day) are back to bullish today. The 4-day moving average is above the 9-day and 18-day. The 9-day is above the 18-day moving average. Short-term oscillators (RSI, slow stochastics) are neutral to bullish today. Today, shorter-term technical support comes in at 1,385.00. Sell stops likely reside just under that level. More sell stops likely reside under shorter-term technical support at Wednesday's low of 1,380.40. Upside resistance for active traders today is located at this week's high of 1,393.00. Buy stops are likely located just above that price level, and then more buy stops are likely located just above chart resistance at 1,400.00. Wyckoff's Intra-day Market Rating: 6
PIVOT POINT LEVELS FOR DECEMBER S&P 500:
Pivot:------------ 1,388.35
1st Support:------ 1,383.70
2nd Support:------ 1,375.75
1st Resistance:--- 1,396.25
2nd Resistance:--- 1,401.00
December Russell 2000: The shorter-term moving averages (4- 9-and 18-day) are neutral to bearish today. The 4-day moving average is above the 9-day and 18-day. The 9-day moving average is below the 18-day. Short-term oscillators (RSI, slow stochastics) are neutral to bullish early today. Today, shorter-term technical support is located at 770.00. Sell stops likely reside just below that level, and then more sell stops are likely located just below technical support at 765.00. On the upside, short-term resistance is seen at this week's high of 775.75. Buy stops are likely located just above that level. More buy stops are likely located just above resistance at the October high of 780.00. Wyckoff's Intra-Day Market Rating: 6.0
PIVOT POINT LEVELS FOR DECEMBER RUSSELL 2000:
Pivot:------------ 769.65
1st Support:------ 764.65
2nd Support:------ 756.45
1st Resistance:--- 777.85
2nd Resistance:--- 782.85
December Dow: For today, sell stops likely reside just below support at 12,165 and then more stops just below support at Wednesday's low of 12,130. Buy stops likely reside just above shorter-term technical resistance at this week's contract high of 12,220 and then more buy stops just above resistance at 12,250. Shorter-term moving averages are bullish, as the 4-day moving average is above the 9-day and 18-day. The 9-day moving average is above the 18-day moving average. Shorter-term oscillators (RSI, slow stochastics) are bullish for today. Wyckoff's Intra-Day Market Rating: 6.0
PIVOT POINT LEVELS FOR DECEMBER DOW:
Pivot:------------ 12,186
1st Support:------ 12,152
2nd Support:------ 12,096
1st Resistance:--- 12,242
2nd Resistance:--- 12,276
U.S. TREASURY BONDS AND NOTES
U.S. T-Bonds and T-Notes are near steady early today. Bulls still have the near-term technical advantage.
December U.S. T-Bonds: Price action has formed a bullish symmetrical triangle this week. Shorter-term moving averages (4- 9- 18-day) are turning bullish today. The 4-day moving average is below the 9-day, but is turning up. The 9-day is above the 18-day moving average. Oscillators (RSI, slow stochastics) are neutral to bullish for today. Shorter-term technical resistance lies at Wednesday's high of 112 24/32. Buy stops likely reside just above that level. More buy stops likely reside just above technical resistance at 113 even. Shorter-term technical support lies at the overnight low of 112 10/32. Sell stops likely reside just below that level. More sell stops are likely located below support at Wednesday's low of 112 3/32. Wyckoff's Intra-Day Market Rating: 7.5
PIVOT POINT LEVELS FOR DECEMBER T-BONDS:
Pivot:----------- 112 15/32
1st Support:----- 112 6/32
2nd Support:----- 111 26/32
1st Resistance:-- 112 27/32
2nd Resistance:-- 113 4/32
December U.S. T-Notes: Price action this week has formed a bullish symmetrical triangle. Shorter-term oscillators (RSI, slow stochastics) are neutral to bullish for today. Buy stops likely reside just above shorter-term technical resistance at Wednesday's high of 108.06.0, and more buy stops are likely located just above resistance at 108.16.0. Shorter-term moving averages are turning bullish today. The 4-day moving average is below the 9-day, but is turning up. The 9-day is above the 18-day moving average today. Sell stop orders are likely located just below support at the overnight low of 107.28.5, and then more sell stops just below support at 107.24.0. Wyckoff's Intra Day Market Rating: 7.5
PIVOT POINT LEVELS FOR DECEMBER T-NOTES:
Pivot:------------ 108.00.0
1st Support:------ 107.27.0
2nd Support:------ 107.20.0
1st Resistance:--- 108.07.0
2nd Resistance:--- 108.12.0
Wednesday, November 8--Jim Wyckoff's Early Morning Web Log
OVERNIGHT/EARLY MORNING DEVELOPMENTS
The feature in overnight/early morning trading today is solidly lower stock index prices, in the wake of Democrats making strong gains in the U.S. Congress in Tuesday's elections.
U.S. STOCK INDEXES
The stock indexes are solidly lower in early morning electronic trading, in the wake of the elections. However, the indexes were due for some profit-taking pressure anyway following good gains Monday and Tuesday.
December S&P 500: The shorter-term moving averages (4-, 9- and 18-day) are neutral today. The 4-day moving average is above the 9-day and 18-day, but just barely. The 9-day is even with the 18-day moving average, but is turning down. Short-term oscillators (RSI, slow stochastics) are neutral today. Today, shorter-term technical support comes in at the overnight low of 1,381.20. Sell stops likely reside just under that level. More sell stops likely reside under shorter-term technical support at 1,375.00. Upside resistance for active traders today is located at 1,385.00. Buy stops are likely located just above that price level, and then more buy stops are likely located just above chart resistance at the overnight high of 1,389.00. Wyckoff's Intra-day Market Rating: 4
PIVOT POINT LEVELS FOR DECEMBER S&P 500:
Pivot:------------ 1,388.30
1st Support:------ 1,383.55
2nd Support:------ 1,378.10
1st Resistance:--- 1,393.75
2nd Resistance:--- 1,398.50
December Russell 2000: The shorter-term moving averages (4- 9-and 18-day) are neutral to bearish today. The 4-day moving average is below the 9-day and 18-day, but is turning back higher. The 9-day moving average is below the 18-day. Short-term oscillators (RSI, slow stochastics) are neutral early today. Today, shorter-term technical support is located at 760.00. Sell stops likely reside just below that level, and then more sell stops are likely located just below technical support at this week's low of 755.60. On the upside, short-term resistance is seen at 770.00. Buy stops are likely located just above that level. More buy stops are likely located just above resistance at Tuesday's high of 775.75. Wyckoff's Intra-Day Market Rating: 4.0
PIVOT POINT LEVELS FOR DECEMBER RUSSELL 2000:
Pivot:------------ 770.10
1st Support:------ 764.50
2nd Support:------ 759.50
1st Resistance:--- 775.15
2nd Resistance:--- 780.77
December Dow: For today, sell stops likely reside just below support at 12,100 and then more stops just below support at this week's low of 12,030. Buy stops likely reside just above shorter-term technical resistance at Tuesday's contract high of 12,220 and then more buy stops just above resistance at 12,250. Shorter-term moving averages are neutral, as the 4-day moving average is below the 9-day and 18-day. The 9-day moving average is above the 18-day moving average. Shorter-term oscillators (RSI, slow stochastics) are neutral for today. Wyckoff's Intra-Day Market Rating: 4.0
PIVOT POINT LEVELS FOR DECEMBER DOW:
Pivot:------------ 12,178
1st Support:------ 12,136
2nd Support:------ 12,084
1st Resistance:--- 12,230
2nd Resistance:--- 12,272
U.S. TREASURY BONDS AND NOTES
U.S. T-Bonds and T-Notes are solidly higher early today. Bulls have regained the near-term technical advantage.
December U.S. T-Bonds: Shorter-term moving averages (4- 9- 18-day) are neutral today. The 4-day moving average is below the 9-day. The 9-day is above the 18-day moving average. Oscillators (RSI, slow stochastics) are bullish for today. Shorter-term technical resistance lies at the overnight high of 112 24/32. Buy stops likely reside just above that level. More buy stops likely reside just above technical resistance at 113 even. Shorter-term technical support lies at the overnight low of 112 4/32. Sell stops likely reside just below that level. More sell stops are likely located below support at Tuesday's low of 111 26/32. Wyckoff's Intra-Day Market Rating: 7.5
PIVOT POINT LEVELS FOR DECEMBER T-BONDS:
Pivot:----------- 112 7/32
1st Support:----- 111 27/32
2nd Support:----- 111 13/32
1st Resistance:-- 112 21/32
2nd Resistance:-- 113 1/32
December U.S. T-Notes: Shorter-term oscillators (RSI, slow stochastics) are bullish for today. Buy stops likely reside just above shorter-term technical resistance at the overnight high of 108.06.0, and more buy stops are likely located just above resistance at 108.16.0. Shorter-term moving averages are neutral today. The 4-day moving average is below the 9-day. The 9-day is above the 18-day moving average today. Sell stop orders are likely located just below support at the overnight low of 107.26.0, and then more sell stops just below support at Tuesday's low of 107.17.0. Wyckoff's Intra Day Market Rating: 7.5
PIVOT POINT LEVELS FOR DECEMBER T-NOTES:
Pivot:------------ 107.27.0
1st Support:------ 107.18.0
2nd Support:------ 107.09.0
1st Resistance:--- 108.04.0
2nd Resistance:--- 108.13.0
Tuesday, November 7--Jim Wyckoff's Early Morning Web Log
OVERNIGHT/EARLY MORNING DEVELOPMENTS
The feature in overnight/early morning trading today is higher stock index and Treasury prices, and a weaker U.S. dollar.
U.S. STOCK INDEXES
The stock indexes are slightly higher in early morning electronic trading. The bulls again have some near-term technical momentum on their side.
December S&P 500: The shorter-term moving averages (4-, 9- and 18-day) are neutral today. The 4-day moving average is below the 9-day and 18-day, but is turning up. The 9-day is above the 18-day moving average, but is turning down. Short-term oscillators (RSI, slow stochastics) are bullish today. Today, shorter-term technical support comes in at 1,380.00. Sell stops likely reside just under that level. More sell stops likely reside under shorter-term technical support at 1,375.00. Upside resistance for active traders today is located at Monday's high of 1,386.30. Buy stops are likely located just above that price level, and then more buy stops are likely located just above chart resistance at 1,390.00. Wyckoff's Intra-day Market Rating: 7
PIVOT POINT LEVELS FOR DECEMBER S&P 500:
Pivot:------------ 1,379.20
1st Support:------ 1,372.10
2nd Support:------ 1,360.40
1st Resistance:--- 1,390.90
2nd Resistance:--- 1,398.00
December Russell 2000: The shorter-term moving averages (4- 9-and 18-day) are bearish today. The 4-day moving average is below the 9-day and 18-day, but is turning back higher. The 9-day moving average is below the 18-day. Short-term oscillators (RSI, slow stochastics) are neutral to bullish early today. Today, shorter-term technical support is located at 760.00. Sell stops likely reside just below that level, and then more sell stops are likely located just below technical support at Monday's low of 755.60. On the upside, short-term resistance is seen at Monday's high of 768.50. Buy stops are likely located just above that level. More buy stops are likely located just above resistance at 770.00. Wyckoff's Intra-Day Market Rating: 6.0
PIVOT POINT LEVELS FOR DECEMBER RUSSELL 2000:
Pivot:------------ 763.00
1st Support:------ 757.50
2nd Support:------ 750.10
1st Resistance:--- 757.50
2nd Resistance:--- 775.90
December Dow: For today, sell stops likely reside just below support at 12,100 and then more stops just below support at Monday's low of 12,030. Buy stops likely reside just above shorter-term technical resistance at Monday's high of 12,147 and then more buy stops just above resistance at the contract high of 12,213. Shorter-term moving averages are neutral, as the 4-day moving average is below the 9-day and 18-day. The 9-day moving average is above the 18-day moving average. Shorter-term oscillators (RSI, slow stochastics) are neutral for today. Wyckoff's Intra-Day Market Rating: 7.0
PIVOT POINT LEVELS FOR DECEMBER DOW:
Pivot:------------ 12,103
1st Support:------ 12,060
2nd Support:------ 11,986
1st Resistance:--- 12,177
2nd Resistance:--- 12,220
U.S. TREASURY BONDS AND NOTES
U.S. T-Bonds and T-Notes are higher early today, on follow-through strength from modest gains Monday. Bulls are regaining the near-term technical advantage.
December U.S. T-Bonds: Shorter-term moving averages (4- 9- 18-day) are neutral today. The 4-day moving average is below the 9-day. The 9-day is above the 18-day moving average. Oscillators (RSI, slow sto |
