U.S. STOCK INDEXES

The stock indexes are weaker in early morning electronic trading. The stock index bears still have the near-term technical advantage.

March S&P 500: The shorter-term moving averages (4-, 9- and 18-day) are neutral early today. The 4-day moving average is above the 9-day. The 9-day is below the 18-day moving average. Short-term oscillators (RSI, slow stochastics) are neutral early today. Today, shorter-term technical support comes in at Wednesday's low of 1,333.00. Sell stops likely reside just under that level. More sell stops likely reside under shorter-term technical support at 1,320.00. Upside resistance for active traders today is located at Wednesday's high of 1,354.80 and then at 1,370.00. 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: 1,337.00.

PIVOT POINT LEVELS FOR MARCH S&P 500:

Pivot:------------ 1,362.05
1st Support:------ 1,336.60
2nd Support:------ 1,322.55
1st Resistance:--- 1,376.10
2nd Resistance:--- 1,401.55

March Nasdaq Index: The shorter-term moving averages (4- 9-and 18-day) are bearish early today. The 4-day moving average is below the 9-day and 18-day. The 9-day average is below the 18-day. Short-term oscillators (RSI, slow stochastics) are neutral early today. Shorter-term technical support is located at Wednesday's low of 1,784.75. Sell stops likely reside just below that level, and then more sell stops are likely located just below technical support at 1,763.00. On the upside, short-term resistance is seen at Wednesday's high of 1,807.50 and then at 1,825.00. 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: 1,784.00

PIVOT POINT LEVELS FOR MARCH NASDAQ:

Pivot:------------ 1,819.60
1st Support:------ 1,789.20
2nd Support:------ 1,766.80
1st Resistance:--- 1,841.90
2nd Resistance:--- 1,873.30

March Dow: Sell stops likely reside just below support at 12,300 and then more stops just below support at 12,200. Buy stops likely reside just above shorter-term technical resistance at 12,400 and then just above resistance at 12,500. Shorter-term moving averages are neutral early today, as the 4-day moving average is above the 9-day. The 9-day moving average is below the 18-day moving average. Shorter-term oscillators (RSI, slow stochastics) are neutral early today. Wyckoff's Intra-Day Market Rating: 4.0

Today's key near-term Fibonacci support/resistance level: 12,257

PIVOT POINT LEVELS FOR MARCH DOW:

Pivot:------------ 12,477
1st Support:------ 12,277
2nd Support:------ 12,161
1st Resistance:--- 12,593
2nd Resistance:--- 12,793

U.S. TREASURY BONDS AND NOTES

U.S. T-Bonds and T-Notes futures prices are solidly higher in early trading today. Bulls are making a good rebound from losses Wednesday. The next two trading days will be extra important for the Treasuries markets. The price trend to end this week could well be the price trend that will be in place in the coming weeks.

March U.S. T-Bonds: Shorter-term moving averages (4- 9- 18-day) are neutral early 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 early today. Shorter-term technical resistance lies at Wednesday's high of 119 25/32 and then at 120 even. Buy stops likely reside just above those levels. Shorter-term technical support lies at 119 8/32. Sell stops likely reside just below that level. More sell stops are likely located below support at 119 even. Wyckoff's Intra-Day Market Rating: 7.0

Today's key near-term Fibonacci support/resistance level: 119 24/32

PIVOT POINT LEVELS FOR MARCH T-BONDS:

Pivot:----------- 118 27/32
1st Support:----- 117 29/32
2nd Support:----- 116 29/32
1st Resistance:-- 119 27/32
2nd Resistance:-- 120 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 117.08.0 and then just above resistance at 117.16.0. Shorter-term moving averages are neutral early today. The 4-day moving average is below the 9-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 116.16.5 and then more sell stops just below support at 116.08.0. Wyckoff's Intra Day Market Rating: 7.0

Today's key near-term Fibonacci support/resistance level: 117.04.0

PIVOT POINT LEVELS FOR MARCH T-NOTES:

Pivot:------------ 116.12.0
1st Support:------ 115.31.0
2nd Support:------ 115.11.0
1st Resistance:--- 117.00.0
2nd Resistance:--- 117.13.0