U.S. STOCK INDEXES

The stock indexes are slightly lower in quiet early morning electronic trading. Bulls still have the near-term technical advantage.

March 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 1,421.80. Sell stops likely reside just under that level. More sell stops likely reside under shorter-term technical support at 1,416.50. Upside resistance for active traders today is located at Monday's high of 1,429.10 and then at the contract high of 1,432.00. Buy stops are likely located just above those levels. Wyckoff's Intra-day Market Rating: 7.0

PIVOT POINT LEVELS FOR MARCH S&P 500:

Pivot:------------ 1,425.90
1st Support:------ 1,422.70
2nd Support:------ 1,418.60
1st Resistance:--- 1,430.00
2nd Resistance:--- 1,433.20

March 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 797.25. Sell stops likely reside just below that level, and then more sell stops are likely located just below technical support at 793.25. On the upside, short-term resistance is seen at Mondday's high of 803.25. Buy stops are likely located just above that level. More buy stops are likely located just above resistance at the contract high of 809.00. Wyckoff's Intra-Day Market Rating: 7.0

PIVOT POINT LEVELS FOR MARCH RUSSELL 2000:

Pivot:------------ 800.65
1st Support:------ 798.00
2nd Support:------ 794.65
1st Resistance:--- 804.00
2nd Resistance:--- 806.65

March Dow: For today, sell stops likely reside just below support at Monday's low of 12,400 and then more stops just below support at 12,350. Buy stops likely reside just above shorter-term technical resistance at the contract high of 12,460 and then more buy stops just above resistance at 12,500. Shorter-term moving averages are neutral today, as the 4-day moving average is moving 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 today. Wyckoff's Intra-Day Market Rating: 7.0

PIVOT POINT LEVELS FOR MARCH DOW:

Pivot:------------ 12,426
1st Support:------ 12,404
2nd Support:------ 12,377
1st Resistance:--- 12,453
2nd Resistance:--- 12,475

U.S. TREASURY BONDS AND NOTES

U.S. T-Bonds and T-Notes are slightly higher early today. Bulls have regained some upside technical momentum this week.

March U.S. T-Bonds: Shorter-term moving averages (4- 9- 18-day) are bullish 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 early today. Shorter-term technical resistance lies at the overnight high of 113 29/32. Buy stops likely reside just above that level. More buy stops likely reside just above technical resistance at 114 even. Shorter-term technical support lies at the overnight low of 113 19/32. Sell stops likely reside just below that level. More sell stops are likely located below support at last week's low of 113 7/32. Wyckoff's Intra-Day Market Rating: 6.5

PIVOT POINT LEVELS FOR MARCH T-BONDS:

Pivot:----------- 113 19/32
1st Support:----- 113 11/32
2nd Support:----- 112 31/32
1st Resistance:-- 113 31/32
2nd Resistance:-- 114 7/32

March 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 109.00.0, and more buy stops are likely located just above resistance at 109.08.0. 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 last week's low of 108.18.0, and then more sell stops just below support at 108.08.0. Wyckoff's Intra Day Market Rating: 6.5

PIVOT POINT LEVELS FOR MARCH T-NOTES:

Pivot:------------ 108.25.0
1st Support:------ 108.20.0
2nd Support:------ 108.14.0
1st Resistance:--- 108.31.0
2nd Resistance:--- 109.04.0