Name: Jim Wyckoff 
U.S. T-Bonds Steady Ahead of U.S. Data
U.S. TREASURY BONDS AND NOTES
U.S. T-Bonds and T-Notes are trading slightly higher today, as traders await today's slew of U.S. economic data. Bears still have the strong near-term technical advantage.
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. The 9-day is below the 18-day moving average. Oscillators (RSI, slow stochastics) are neutral to bullish early today. Shorter-term technical resistance lies at this week's high of 109 25/32. Buy stops likely reside just above that level. More buy stops likely reside just above technical resistance at 110 even. Shorter-term technical support lies at Tuesday's low 109 11/32. Sell stops likely reside just below that level. More sell stops are likely located below support at last week's low of 109 6/32. Wyckoff's Intra-Day Market Rating: 4.0
PIVOT POINT LEVELS FOR MARCH T-BONDS:
Pivot:----------- 109 16/32
1st Support:----- 109 13/32
2nd Support:----- 109 7/32
1st Resistance:-- 109 22/32
2nd Resistance:-- 109 25/32
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 Monday's high of 106.18.5, and more buy stops are likely located just above resistance at 106.24.0. 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 Tuesday's low of 106.10.0, and then more sell stops just below support at last week's low of 106.06.5. Wyckoff's Intra Day Market Rating: 3.5
PIVOT POINT LEVELS FOR MARCH T-NOTES:
Pivot:------------ 106.14.0
1st Support:------ 106.11.0
2nd Support:------ 106.08.0
1st Resistance:--- 106.17.0
2nd Resistance:--- 106.20.0
CURRENCIES
The March U.S. dollar index is firmer in early trading. Slow stochastics are bearish for today. The dollar index finds shorter-term technical resistance at the overnight high of 85.05 and then at last week's high of 85.25. Shorter-term support is seen at Tuesday's low of 84.77 and then at 84.50. Wyckoff's Intra Day Market Rating: 5.5
The March Euro is slightly lower in early electronic trading. The Euro finds sell stop orders are likely located just below technical support at the overnight low of 1.2952 and then more stops just below support at 1.2925. Shorter-term technical resistance for the Euro is seen at Tuesday's high of 1.3010 and then at 1.3033. Buy stops likely reside just above those levels. Slow stochastics for the Euro are bullish early today. Wyckoff's Intra Day Market Rating: 5.0
METALS
Gold is slightly higher in early trading today. No serious chart damage has occurred in gold and bulls still have the near-term technical advantage. Prices this week are "pausing" ahead of key U.S. economic data. Look for more active trade in gold the rest of this week. In April gold, shorter-term technical support is seen at the overnight low of $650.00 and then at this week's low of $646.60. Sell stops likely reside just below those levels. Buy stops likely reside just above resistance at today's high of $653.40 and then just above resistance at $655.00. Wyckoff's Intra-Day Market Rating: 6.5
CRUDE OIL
Crude oil prices are modestly lower in early electronic dealings, after huge gains Tuesday. In March crude, look for buy stops to reside just above resistance at Tuesday's high of $57.05 and then just above resistance at $57.50. Look for sell stops just below technical support at $56.00, and then more sell stops just below support at $55.50. Wyckoff's Intra-Day Market Rating: 5.0
GRAINS
Prices were mixed but mostly higher in quiet dealings overnight, as trading has become choppier and a bit less volatile. Bulls still have the near-term technical advantage in corn and soybeans, and gained more momentum Tuesday. But strong bull markets need a dose of fresh fundamental news often, and the corn and bean bulls still need a good meal at present. Wheat is still technically weak at present, but any strength in corn and beans will support wheat. Grain traders will continue to closely watch the "outside markets" today (gold, crude oil).
