U.S. STOCK INDEXES

The stock indexes are slightly higher in early morning electronic trading. But bulls still have the solid 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 to bullish today. Today, shorter-term technical support comes in at 1,432.00. Sell stops likely reside just under that level. More sell stops likely reside under shorter-term technical support at Thursday's low of 1,424.40. Upside resistance for active traders today is located at Thursday's contract high of 1,439.90 and then at 1,445.00. Buy stops are likely located just above those levels. Wyckoff's Intra-day Market Rating: 8.5

PIVOT POINT LEVELS FOR MARCH S&P 500:

Pivot:------------ 1,434.20
1st Support:------ 1,428.45
2nd Support:------ 1,418.70
1st Resistance:--- 1,443.95
2nd Resistance:--- 1,449.70

March Russell 2000: The shorter-term moving averages (4- 9-and 18-day) are turning bullish today. The 4-day moving average is below the 9-day, but is turning up. 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 Thursday's low of 797.50. 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 791.25. On the upside, short-term resistance is seen at Thursday's high of 807.00. 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: 8.0

PIVOT POINT LEVELS FOR MARCH RUSSELL 2000:

Pivot:------------ 801.85
1st Support:------ 796.75
2nd Support:------ 792.40
1st Resistance:--- 806.25
2nd Resistance:--- 811.40

March Dow: For today, sell stops likely reside just below support at 12,460 and then more stops just below support at Thursday's low of 12,405. Buy stops likely reside just above shorter-term technical resistance at Thursday's contract high of 12,527 and then more buy stops just above resistance at 12,550. Shorter-term moving averages are bullish today, as the 4-day moving average is moving 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 today. Wyckoff's Intra-Day Market Rating: 8.5

PIVOT POINT LEVELS FOR MARCH DOW:

Pivot:------------ 12,480
1st Support:------ 12,434
2nd Support:------ 12,358
1st Resistance:--- 12,556
2nd Resistance:--- 12,602

U.S. TREASURY BONDS AND NOTES

U.S. T-Bonds and T-Notes are weaker early today. Bears have regained downside technical momentum this week.

March U.S. T-Bonds: Shorter-term moving averages (4- 9- 18-day) are bearish today. The 4-day moving average is below the 9-day and 18-day. The 9-day is below the 18-day moving average. Oscillators (RSI, slow stochastics) are bearish early today. Shorter-term technical resistance lies at the overnight high of 112 25/32. 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 17/32. 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: 4.0

PIVOT POINT LEVELS FOR MARCH T-BONDS:

Pivot:----------- 112 26/32
1st Support:----- 112 15/32
2nd Support:----- 112 9/32
1st Resistance:-- 113 even
2nd Resistance:-- 113 11/32

March 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 108.12.5, and more buy stops are likely located just above resistance at Thursday's high of 108.19.0. Shorter-term moving averages are bearish today. The 4-day moving average is below the 9-day. The 9-day is below the 18-day moving average. Sell stop orders are likely located just below support at the overnight low of 108.07.5, and then more sell stops just below support at 108.00.0. Wyckoff's Intra Day Market Rating: 4.0

PIVOT POINT LEVELS FOR MARCH T-NOTES:

Pivot:------------ 108.13.0
1st Support:------ 108.07.0
2nd Support:------ 108.03.0
1st Resistance:--- 108.17.0
2nd Resistance:--- 108.23.0