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