U.S. STOCK INDEXES

The stock indexes are firmer in early morning
electronic trading. Bulls do not want to see a
bearish weekly low close today. Looking at the
daily chart, the indexes have been trading mostly
sideways at lower price levels for the past two
months. Bears still have the slight near-term
technical advantage.

June S&P 500: The shorter-term moving averages (4-,
9- and 18-day) are still 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 this week’s low of
1,325.80. Sell stops likely reside just under that
level. More sell stops likely reside under shorter-
term technical support at 1,310.00. Upside
resistance for active traders today is located at
Thursday’s high of 1,347.90 and then at this week’s
high of 1,361.00. Buy stops are likely located just
above those levels. Wyckoff's Intra-day Market
Rating: 5.0

Today's key near-term Fibonacci support/resistance
level: 1,321.00.

PIVOT POINT LEVELS FOR JUNE S&P 500:

Pivot:------------ 1,334.90
1st Support:------ 1,321.90
2nd Support:------ 1,314.00
1st Resistance:--- 1,342.80
2nd Resistance:--- 1,355.80

June Nasdaq Index: The shorter-term moving averages
(4- 9-and 18-day) are still bullish early today.
The 4-day moving average is above the 9-day. The 9-
day average is above the 18-day. Short-term
oscillators (RSI, slow stochastics) are neutral
early today. Shorter-term technical support is
located at Thursday’s low of 1,783.00. Sell stops
likely reside just below that level, and then more
sell stops are likely located just below technical
support at 1,750.00. On the upside, short-term
resistance is seen at Thursday’s high of 1,822.75
and then at this week’s high of 1,840.00. Buy stops
are likely located just above those levels.
Wyckoff's Intra-Day Market Rating: 5.0

Today's key near-term Fibonacci support/resistance
level: 1,778.00

PIVOT POINT LEVELS FOR JUNE NASDAQ:

Pivot:------------ 1,799.25
1st Support:------ 1,775.75
2nd Support:------ 1,759.50
1st Resistance:--- 1,815.50
2nd Resistance:--- 1,839.00

June Dow: Sell stops likely reside just below
support at Thursday’s low of 12,290 and then more
stops just below support at 12,200. Buy stops
likely reside just above shorter-term technical
resistance at Thursday’s high of 12,481 and then
just above resistance at this week’s high of
12,615. Shorter-term moving averages are bullish
early today, as the 4-day moving average is above
the 9-day. The 9-day moving average is above the
18-day moving average. Shorter-term oscillators
(RSI, slow stochastics) are bearish early today.
Wyckoff's Intra-Day Market Rating: 5.0

Today's key near-term Fibonacci support/resistance
level: 12,251

PIVOT POINT LEVELS FOR JUNE DOW:

Pivot:------------ 12,364
1st Support:------ 12,247
2nd Support:------ 12,173
1st Resistance:--- 12,438
2nd Resistance:--- 12,555

U.S. TREASURY BONDS AND NOTES

U.S. T-Bonds and T-Notes futures prices are weaker
in early trading. Bulls are fading and do not want
to see a bearish weekly low close today.

June 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 and 18-day. The
9-day is above the 18-day moving average.
Oscillators (RSI, slow stochastics) are bearish
early today. Shorter-term technical resistance lies
at 118 16/32. Buy stops likely reside just above
that level. More buy stops likely reside just above
technical resistance at 119 even. Shorter-term
technical support lies at the overnight low of 117
21/32. Sell stops likely reside just below that
level. More sell stops are likely located below
support at 117 8/32. Wyckoff's Intra-Day Market
Rating: 4.5

Today's key near-term Fibonacci support/resistance
level:117 15/32

PIVOT POINT LEVELS FOR JUNE T-BONDS:

Pivot:----------- 118 12/32
1st Support:----- 117 17/32
2nd Support:----- 116 29/32
1st Resistance:-- 119 even
2nd Resistance:-- 119 27/32

June U.S. T-Notes: Shorter-term oscillators (RSI,
slow stochastics) are bearish early today. Buy
stops likely reside just above shorter-term
technical resistance at the overnight high of
118.14.5 and then just above resistance at
118.31.0. 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 118.00.0 and then more sell stops
just below support at this week’s low of 117.26.5.
Wyckoff's Intra Day Market Rating: 5.0

Today's key near-term Fibonacci support/resistance
level: 116.31.0

PIVOT POINT LEVELS FOR JUNE T-NOTES:

Pivot:------------ 118.15.0
1st Support:------ 118.00.0
2nd Support:------ 117.19.0
1st Resistance:--- 118.28.0
2nd Resistance:--- 119.11.0