U.S. STOCK INDEXES

The stock indexes are weaker in early morning electronic trading. The bulls still have some near-term technical momentum on their side.

September S&P 500: The shorter-term moving averages (4-, 9- and 18-day) are bullish early 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 early today. Today, shorter-term technical support comes in at 1,460.00. Sell stops likely reside just under that level. More sell stops likely reside under shorter-term technical support at 1,450.00. Upside resistance for active traders today is located at the overnight high of 1,470.40 and then at last week's high of 1,483.90. Buy stops are likely located just above those levels. Wyckoff's Intra-day Market Rating: 4.0

Today's key near-term Fibonacci support/resistance level: 1,470.00.

PIVOT POINT LEVELS FOR SEPTEMBER S&P 500:

Pivot:------------ 1,473.75
1st Support:------ 1,464.10
2nd Support:------ 1,458.35
1st Resistance:--- 1,479.50
2nd Resistance:--- 1,489.15

September Russell 2000: The shorter-term moving averages (4- 9-and 18-day) are bullish early today. The 4-day moving average is above the 9-day and 18-day, but is turning down. The 9-day average is above the 18-day. Short-term oscillators (RSI, slow stochastics) are neutral to bearish early today. Shorter-term technical support is located at 780.00. Sell stops likely reside just below that level, and then more sell stops are likely located just below technical support at 775.00. On the upside, short-term resistance is seen at 790.00 and then at 800.00. Buy stops are likely located just above those levels. Wyckoff's Intra-Day Market Rating: 4.0

Today's key near-term Fibonacci support/resistance level: 774.00

PIVOT POINT LEVELS FOR SEPTEMBER RUSSELL 2000:

Pivot:------------ 794.10
1st Support:------ 785.70
2nd Support:------ 781.15
1st Resistance:--- 798.70
2nd Resistance:--- 807.05

September Dow: Sell stops likely reside just below support at 13,250 and then more stops just below support at 13,200. Buy stops likely reside just above shorter-term technical resistance at last week's high of 13,420 and then just above resistance at 13,500. Shorter-term moving averages are neutral early today, as the 4-day moving average is 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 early today. Wyckoff's Intra-Day Market Rating: 4.0

Today's key near-term Fibonacci support/resistance level: 13,328

PIVOT POINT LEVELS FOR SEPTEMBER DOW:

Pivot:------------ 13,367
1st Support:------ 13,320
2nd Support:------ 13,287
1st Resistance:--- 13,400
2nd Resistance:--- 13,447

U.S. TREASURY BONDS AND NOTES

U.S. T-Bonds and T-Notes are higher early today. Bulls have solid near-term technical momentum on their side.

September U.S. T-Bonds: Shorter-term moving averages (4- 9- 18-day) are bullish early today. The 4-day moving average is above the 9-day and 18-day. The 9-day is above the 18-day moving average. Oscillators (RSI, slow stochastics) are bullish early today. Shorter-term technical resistance lies at 111 24/32. Buy stops likely reside just above that level. More buy stops likely reside just above technical resistance at 112 even. Shorter-term technical support lies at the overnight low of 111 9/32. Sell stops likely reside just below that level. More sell stops are likely located below support at 111 even. Wyckoff's Intra-Day Market Rating: 8.0

Today's key near-term Fibonacci support/resistance level:110 22/32

PIVOT POINT LEVELS FOR SEPTEMBER T-BONDS:

Pivot:----------- 111 6/32
1st Support:----- 110 29/32
2nd Support:----- 110 10/32
1st Resistance:-- 111 25/32
2nd Resistance:-- 112 2/32

September U.S. T-Notes: Shorter-term oscillators (RSI, slow stochastics) are neutral to bullish early today. Buy stops likely reside just above shorter-term technical resistance at the August high of 109.09.5 and then just above resistance at 109.16.0. Shorter-term moving averages are bullish early today. The 4-day moving average is above the 9-day and 18-day. The 9-day is above the 18-day moving average. Sell stop orders are likely located just below support at the overnight low of 108.30.5 and then more sell stops just below support at 108.24.0. Wyckoff's Intra Day Market Rating: 7.0

Today's key near-term Fibonacci support/resistance level: 107.10.0

PIVOT POINT LEVELS FOR SEPTEMBER T-NOTES:

Pivot:------------ 108.27.0
1st Support:------ 108.21.0
2nd Support:------ 108.07.0
1st Resistance:--- 109.09.0
2nd Resistance:--- 109.15.0