Name: Jim Wyckoff 
U.S. Stock Indexes Firmer Early
Monday, March 24--Jim Wyckoff's Morning Web Log
OVERNIGHT/EARLY MORNING DEVELOPMENTS
The market features in overnight/early morning
trading today is firmer U.S. stock index futures
and lower U.S. Treasury futures. Most of Europe is
closed today for the Easter holiday.
* JIM'S MARKET THOUGHT OF THE DAY *
I really don’t have many thoughts on the markets
today. My mind is still numb. My brother-in-law and
very close friend died suddenly over the weekend
from a massive heart attack while skiing in Winter
Park, Colorado. He was only 55 and on the cusp of
enjoying what is really the best part of life. I
guess my thought of the day for you would be to
never take life or your loved ones for granted and
to live each day to its very fullest.—Jim
U.S. STOCK INDEXES
The stock indexes are firmer in early morning
electronic trading. Trading has turned choppier at
lower price levels and the bears still have the
near-term technical and psychological advantage.
June 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 bullish
early today. Today, shorter-term technical support
comes in at the overnight 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 last week’s
high of 1,343.50 and then at 1,350.00. 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: 1,340.00.
PIVOT POINT LEVELS FOR JUNE S&P 500:
Pivot:------------ 1,314.95
1st Support:------ 1,297.90
2nd Support:------ 1,271.05
1st Resistance:--- 1,341.80
2nd Resistance:--- 1,358.85
June Nasdaq Index: 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
average is below the 18-day. Short-term oscillators
(RSI, slow stochastics) are neutral to bullish
early today. Shorter-term technical support is
located at the overnight low of 1,749.25. Sell
stops likely reside just below that level, and then
more sell stops are likely located just below
technical support at Friday’s low of 1,710.75. On
the upside, short-term resistance is seen at the
March high of 1,783.00 and then at 1,800.00. 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: 1,732.00
PIVOT POINT LEVELS FOR JUNE NASDAQ:
Pivot:------------ 1,756.20
1st Support:------ 1,753.35
2nd Support:------ 1,746.40
1st Resistance:--- 1,763.10
2nd Resistance:--- 1,765.90
June Dow: Sell stops likely reside just below
support at 12,250 and then more stops just below
support at Friday’s low of 12,046. Buy stops likely
reside just above shorter-term technical resistance
at Thursday’s high of 12,378 and then just above
resistance at last week’s high of 12,456. 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 bullish early today. Wyckoff's
Intra-Day Market Rating: 5.0
Today's key near-term Fibonacci support/resistance
level: 12,350
PIVOT POINT LEVELS FOR JUNE DOW:
Pivot:------------ 12,251
1st Support:------ 12,123
2nd Support:------ 11,919
1st Resistance:--- 12,455
2nd Resistance:--- 12,583
U.S. TREASURY BONDS AND NOTES
U.S. T-Bonds and T-Notes futures prices are lower
in early trading. The Treasuries appear to be
starting the week wanting to trade in a keen
inverse fashion with the U.S. stock indexes.
June 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 beaerish
early today. Shorter-term technical resistance lies
at 120 16/32. Buy stops likely reside just above
that level. More buy stops likely reside just above
technical resistance at the overnight high of 120
27/32. Shorter-term technical support lies at 119
24/32. Sell stops likely reside just below that
level. More sell stops are likely located below
support at 119 16/32. Wyckoff's Intra-Day Market
Rating: 4.0
Today's key near-term Fibonacci support/resistance
level:118 28/32
PIVOT POINT LEVELS FOR JUNE T-BONDS:
Pivot:----------- 120 20/32
1st Support:----- 120 7/32
2nd Support:----- 119 15/32
1st Resistance:-- 121 12/32
2nd Resistance:-- 121 25/32
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 119.00.0 and then just
above resistance at the overnight high of 119.18.0.
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 118.16.0 and then more sell stops
just below support at 118.08.0. Wyckoff's Intra Day
Market Rating: 4.0
Today's key near-term Fibonacci support/resistance
level: 117.22.0
PIVOT POINT LEVELS FOR JUNE T-NOTES:
Pivot:------------ 119.24.0
1st Support:------ 119.17.0
2nd Support:------ 119.07.0
1st Resistance:--- 120.02.0
2nd Resistance:--- 120.09.0
