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