U.S. STOCK INDEXES

The stock indexes are slightly higher 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 to bearish today. Today, shorter-term technical support comes in at the overnight low of 1,421.90. Sell stops likely reside just under that level. More sell stops likely reside under shorter-term technical support at Friday's low of 1,416.50. Upside resistance for active traders today is located at Friday's high of 1,427.70 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:------------ 1,422.15
1st Support:------ 1,416.60
2nd Support:------ 1,410.95
1st Resistance:--- 1,427.80
2nd Resistance:--- 1,433.35

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 to bearish early today. Today, shorter-term technical support is located at Friday's low of 793.25. Sell stops likely reside just below that level, and then more sell stops are likely located just below technical support at 790.00. On the upside, short-term resistance is seen at Friday's high of 804.25. 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:------------ 798.90
1st Support:------ 793.55
2nd Support:------ 787.90
1st Resistance:--- 804.55
2nd Resistance:--- 809.90

March Dow: For today, sell stops likely reside just below support at Friday's low of 12,336 and then more stops just below support at 12,300. Buy stops likely reside just above shorter-term technical resistance at Friday's high of 12,432 and then more buy stops just above resistance at the contract high of 12,460. 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 neutral to bullish today. Wyckoff's Intra-Day Market Rating: 7.0

PIVOT POINT LEVELS FOR MARCH DOW:

Pivot:------------ 12,388
1st Support:------ 12,344
2nd Support:------ 12,292
1st Resistance:--- 12,440
2nd Resistance:--- 12,484

U.S. TREASURY BONDS AND NOTES

U.S. T-Bonds and T-Notes are slightly higher early today. Bulls are fading in the wake of a bearish U.S. jobs report on Friday.

March 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 bearish early today. Shorter-term technical resistance lies at the overnight high of 113 17/32. Buy stops likely reside just above that level. More buy stops likely reside just above technical resistance at 113 24/32. Shorter-term technical support lies at Friday's low of 113 7/32. Sell stops likely reside just below that level. More sell stops are likely located below support at 113 even. Wyckoff's Intra-Day Market Rating: 5.0

PIVOT POINT LEVELS FOR MARCH T-BONDS:

Pivot:----------- 113 18/32
1st Support:----- 112 31/32
2nd Support:----- 112 20/32
1st Resistance:-- 113 29/32
2nd Resistance:-- 114 16/32

March U.S. T-Notes: Shorter-term oscillators (RSI, slow stochastics) are neutral to bearish early today. Buy stops likely reside just above shorter-term technical resistance at 108.24.0, and more buy stops are likely located just above resistance at 109.00.0. 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 Friday's low of 108.18.0, and then more sell stops just below support at 108.08.0. Wyckoff's Intra Day Market Rating: 5.0

PIVOT POINT LEVELS FOR MARCH T-NOTES:

Pivot:------------ 108.30.0
1st Support:------ 108.08.0
2nd Support:------ 107.29.0
1st Resistance:--- 109.09.0
2nd Resistance:--- 109.31.0