U.S. STOCK INDEXES

The stock indexes are slightly higher in quiet early morning electronic trading. Bulls are fading just a bit, but still have the overall 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. 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 1,435.00. Sell stops likely reside just under that level. More sell stops likely reside under shorter-term technical support at Friday's low of 1,431.50. Upside resistance for active traders today is located at 1,440.00 and then at the contract high of 1,444.90. Buy stops are likely located just above those levels. Wyckoff's Intra-day Market Rating: 6.0

PIVOT POINT LEVELS FOR MARCH S&P 500:

Pivot:------------ 1,435.65
1st Support:------ 1,432.60
2nd Support:------ 1,428.45
1st Resistance:--- 1,439.80
2nd Resistance:--- 1,442.85

March Russell 2000: The shorter-term moving averages (4- 9-and 18-day) are turning bearish today. The 4-day moving average is turning down. The 9-day moving average is below the 18-day. Short-term oscillators (RSI, slow stochastics) are neutral early today. Today, shorter-term technical support is located at 785.00. Sell stops likely reside just below that level, and then more sell stops are likely located just below technical support at Friday's low of 779.30. On the upside, short-term resistance is seen at Friday's high of 790.00. Buy stops are likely located just above that level. More buy stops are likely located just above resistance at 795.00. Wyckoff's Intra-Day Market Rating: 5.0

PIVOT POINT LEVELS FOR MARCH RUSSELL 2000:

Pivot:------------ 785.80
1st Support:------ 781.55
2nd Support:------ 775.10
1st Resistance:--- 792.25
2nd Resistance:--- 796.50

March Dow: For today, sell stops likely reside just below support at Friday's low of 12,575 and then more stops just below support at 12,545. Buy stops likely reside just above shorter-term technical resistance at Friday's high of 12,634 and then more buy stops just above resistance at the contract high of 12,68. Shorter-term moving averages are bullish today, as the 4-day moving average is 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 neutral early today. Wyckoff's Intra-Day Market Rating: 7.0

PIVOT POINT LEVELS FOR MARCH DOW:

Pivot:------------ 12,606
1st Support:------ 12,579
2nd Support:------ 12,547
1st Resistance:--- 12,638
2nd Resistance:--- 12,665

U.S. TREASURY BONDS AND NOTES

U.S. T-Bonds and T-Notes are trading slightly lower early today. Bears still have the near-term technical advantage.

March U.S. T-Bonds: Shorter-term moving averages (4- 9- 18-day) are still bearish today. The 4-day moving average is below the 9-day. The 9-day is below the 18-day moving average. Oscillators (RSI, slow stochastics) are neutral early today. Shorter-term technical resistance lies at the overnight high of 110 27/32. Buy stops likely reside just above that level. More buy stops likely reside just above technical resistance at 111 even. Shorter-term technical support lies at the overnight low of 110 19/32. Sell stops likely reside just below that level. More sell stops are likely located below support at 110 16/32. Wyckoff's Intra-Day Market Rating: 4.0

PIVOT POINT LEVELS FOR MARCH T-BONDS:

Pivot:----------- 110 26/32
1st Support:----- 110 15/32
2nd Support:----- 110 6/32
1st Resistance:-- 111 3/32
2nd Resistance:-- 111 14/32

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 last week's high of 107.12.0, and more buy stops are likely located just above resistance at 107.16.0. Shorter-term moving averages are still 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 106.29.5, and then more sell stops just below support at last week's low of 106.23.5. Wyckoff's Intra Day Market Rating: 4.0

PIVOT POINT LEVELS FOR MARCH T-NOTES:

Pivot:------------ 107.03.0
1st Support:------ 106.29.0
2nd Support:------ 106.24.0
1st Resistance:--- 107.08.0
2nd Resistance:--- 107.14.0