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