U.S. Dollar Continuing Recovery, at 2-Mo. High
CURRENCIES
The March U.S. dollar index is firmer in early trading today, and hit a fresh two-month high overnight. Bulls still have upside technical momentum on their side. Slow stochastics for the dollar index are neutral early today. The dollar index finds shorter-term technical resistance at the overnight high of 77.88 and then at 78.00. Shorter-term support is seen at the overnight low of 77.65 and then at this week's low of 77.29. Today's key near-term Fibonacci support/resistance level: 78.18 Wyckoff's Intra Day Market Rating: 6.0
The March Euro is slightly lower in early electronic trading. Prices hit a fresh two-month low overnight. The Euro finds sell stop orders are likely located just below technical support at 1.4300 and then more stops just below support at 1.4250. Shorter-term technical resistance for the Euro is seen at 1.4400 and then at 1.4450. Buy stops likely reside just above those levels. Slow stochastics for the Euro are bearish early today. Today's key near-term Fibonacci support/resistance level: 1.4221. Wyckoff's Intra Day Market Rating: 4.0
GOLD
Gold is trading modestly lower in early dealings today. For February gold, shorter-term technical support is seen at $800.00 and then at $795.00. Sell stops likely reside just below those levels. Buy stops likely reside just above resistance at the overnight high of $807.60 and then just above resistance at this week's high of $811.40. Today's key near-term Fibonacci support/resistance level: $809.00. Wyckoff's Intra-Day Market Rating: 4.5
CRUDE OIL
Crude oil prices are slightly higher early today. In February crude, look for buy stops to reside just above resistance at $92.50 and then just above resistance at $93.00. Look for sell stops just below technical support at this week's low of $91.00, and then more sell stops just below support at $90.00. Today's key near-term Fibonacci support/resistance level: $90.38. Wyckoff's Intra-Day Market Rating: 6.0
GRAINS
Prices were mixed in overnight trading, with wheat lower and corn and beans slightly higher. Traders will closely scrutinize today's USDA weekly export sales report. The bulls appear to be getting tired at higher price levels. Remember that these markets are very mature bull markets and are ripe for at least a significant downside "correction" soon. Heading into the end of the year, it would not surprise me to see some profits taken off the table by the bulls who have big winning positions.


Name: Jim Wyckoff 






