All traders: Continue to keep a close eye on those two key "outside markets" -- the crude oil market and the U.S. dollar. These two markets are driving many markets, at present.

- Jim Wyckoff

Learn More. Make More. Live Better. Get your eBook Now!

Forecast the stock market with up to 80% accuracy using intermarket analysis! VantagePoint Trading Software provides Traders with recent market predictions for hundreds of STOCKS, representing major companies and industries. Go here now to receive your complimentary forecasts.

Dear Fast Break reader. Hello again and thanks for allowing me to show you some of my work. Today, I'm going to provide you with a portion of my Daily Markets Update report from Tuesday afternoon. What a busy day it was Tuesday! I do follow all of the markets on a daily basis and you can check below to see the key technical points and my exclusive "Wyckoff's Market Rating" for the markets you are following.

LIVESTOCK: October live cattle closed down $0.30 at $103.75 today. Prices closed near the session low today amid the general sell off in commodity markets. Prices are still in a 10-week-old downtrend on the daily bar chart. Bulls' next upside price objective is to push and close prices above solid resistance at $106.00. The next downside technical objective for the bears is pushing and closing prices below solid technical support at $102.50. First resistance is seen at $104.00 and then at today's high of $104.55. First support is seen at last week's low of $103.52 and then at $103.00. Wyckoff's Market Rating: 4.0.

October lean hogs closed up $1.17 at $69.60 today. Prices closed near mid-range on short covering in a bear market. Prices last Friday hit a fresh five-month low. Major chart damage has occurred recently. For more information on lean hogs and it's related markets go to www.tradertech.com . Prices are in a steep four-week-old downtrend on the daily bar chart. The next upside price objective for the bulls is to push and close prices above solid chart resistance at $70.50, which would fill on the upside a big downside price gap. The next downside price objective for the bears is pushing prices and closing below solid technical support at last week's low of $68.30. First resistance is seen at $70.00 and then at $70.50. First support is seen at $69.00 and then at $68.30. Wyckoff's Market Rating: 3.0.

GRAINS: December corn futures closed down 15 1/2 cents at $5.69 1/2 today. Prices produced a rare gap lower on the daily bar chart for electronic futures and did close nearer the session high. Bearish "outside markets" -- a stronger U.S. dollar and sharply lower crude oil prices -- helped to weigh on corn today, as did favorable growing weather in the Corn Belt and no frost in the forecast. Bulls have faded badly recently and the bears have fresh downside technical momentum on their side. The bulls' next upside price objective is to push and close prices above solid technical resistance at $5.80 3/4, which would fill on the upside today's downside price gap. The next downside price objective for the bears is to push and close prices below solid technical support at today's low of $5.55. First resistance for December corn is seen at today's high of $5.77 1/4 and then at $5.80 3/4. First support is seen at $5.60 and then at $5.55. Wyckoff's Market Rating: 4.0.

November soybeans closed down 24 1/4 cents at $12.99 3/4 today. Prices produced a rare gap-lower open on the electronic trading daily bar chart and did rebound to close near the session high. Bearishly postured "outside markets" -- sharply lower crude oil prices and a stronger U.S. dollar -- helped sink beans today. Favorable growing weather in the Corn Belt is also deemed a bit bearish. The next upside price objective for the bean bulls is to push and close prices above solid technical resistance at $13.16 3/4 a bushel, which is the top of today's downside price gap. The next downside price objective for the bears is pushing and closing prices below solid technical support at today's low of $12.55. First resistance for November soybeans is seen at today's high of $13.05 and then at $13.16 3/4. First support is seen at $12.75 and then at $12.55. For more information on soybeans and it's related markets go to www.tradertech.com. Wyckoff's Market Rating: 5.0.

December Chicago SRW wheat closed down 34 1/2 cents at $7.66 3/4 today. Prices produced a rare gap-lower opening on the electronic daily bar chart today, hit a fresh nine-month low and closed near the session low. Serious near-term chart damage has been inflicted recently and the bears have solid downside technical momentum. Bearish "outside markets" -- sharply lower crude oil prices and a stronger U.S. dollar -- helped to pressure wheat today. Traders will continue to monitor the key outside markets for direction. The next downside price objective for the bears is pushing and closing prices below major psychological support at $7.00. Bulls' next upside price objective is to push and close December futures prices above solid technical resistance at $7.98 1/2 a bushel, which would fill on the upside today's downside price gap. First resistance is seen at $7.80 and then at $7.98 1/2. First support lies at today's low of $7.56 1/4 and then at $7.50. Wyckoff's Market Rating: 3.0.

SOFTS: October sugar closed down 5 points at 12.71 cents today. Prices hit a fresh five-week low and then rebounded to close near the session high. Bearish "outside markets" -- sharply lower crude oil prices and a stronger U.S. dollar -- did aid the sugar bears today. Bears still have downside technical momentum on their side. Bulls' next upside price objective is to push and close prices above solid technical resistance at 13.50 cents. Bears' next downside price objective is to push and close prices below solid technical support at 12.00 cents. First resistance is seen at today's high of 12.84 cents and then at 13.00 cents. First support is seen at 12.50 cents and then at today's low of 12.37 cents. Wyckoff's Market Rating: 4.0.

December coffee closed down 125 points at 144.50 cents today. Prices closed nearer the session high today. Bulls and bears are presently on a level near-term technical playing field. Bearish "outside markets" -- sharply lower crude oil prices and a stronger U.S. dollar -- did aid the coffee bears today. Coffee bulls' next upside price objective is pushing and closing prices above solid technical resistance at last week's high of 152.25 cents. The next downside price objective for the bears is closing prices below solid support at today's low of 141.80 cents a pound. First support is seen at 143.00 cents and then at 141.80 cents. First resistance is seen at today's high of 145.25 cents and then at 146.00 cents. For more information on coffee and it's related markets go to www.tradertech.com. Wyckoff's Market Rating: 5.0.

December cocoa closed down $192 at $2,692 today. Prices gapped sharply lower on the daily bar chart and closed nearer the session low. Serious chart damage was inflicted today to suggest a resumption of the recent downtrend. Bearish "outside markets" -- sharply lower crude oil prices and a stronger U.S. dollar -- did help sink cocoa today. The next upside price objective for the cocoa bulls is to push and close prices above solid technical resistance at $2,850, which would fill on the upside today's downside price gap on the daily chart. The next downside price objective for the bears is closing prices below solid technical support at the August low of $2,574. First resistance is seen at $2,750 and then at $2,780. First support is seen at today's low of $2,641 and then at $2,600. Wyckoff's Market Rating: 4.0.

December cotton closed up 52 points at 70.30 cents today. Prices closed near the session high on support from worries that Hurricane Gustav could have damaged some of the southern U.S. cotton crop. However, bearish "outside markets" today -- sharply lower crude oil prices and a stronger U.S. dollar -- did limit the upside in cotton. Cotton bears still have the near-term technical advantage. The next downside price objective for the bears is to produce a close below strong technical support at the August low of 66.79 cents. The next upside price objective for the bulls is to produce a close above solid chart resistance at 72.00 cents. First resistance is seen at last week's high of 71.18 cents and then at 72.00 cents. First support is seen at 70.00 cents and then at 69.00 cents. Wyckoff's Market Rating: 3.5.

METALS: December gold futures closed down $24.40 at $810.80 today. Prices closed nearer the session low and were hit by a stronger U.S. dollar and sharply lower crude oil prices. Prices today also saw a bearish downside "breakout" from a rising wedge pattern on the daily chart. Serious chart damage was inflicted today to suggest more on the downside in the near term. Gold will continue to track the dollar very closely and in an inverse fashion. The gold bears have the near-term technical advantage. For more information on gold and it's related markets go to www.tradertech.com. Bears' next downside price objective is closing prices below solid technical support at today's low of $795.20. Gold bulls' next upside price objective is to produce a close above solid technical resistance at last week's high of $849.70. First resistance is seen at $820.00 and then at $830.00. Support is seen at $800.00 and then at $795.20. Wyckoff's Market Rating: 3.5.

December N.Y. copper closed down 1,030 points at 328.40 cents today. Prices closed near mid-range today after hitting a fresh seven-month low today. Bearish "outside markets" -- a stronger U.S. dollar and sharply lower crude oil prices -- weighed on copper today. Bears have the solid near-term technical advantage in copper. The next downside price objective for the bears is closing prices below solid technical support at today's low of 319.90 cents. Bulls' next upside objective is pushing and closing prices above solid technical resistance at 340.00 cents. First support is seen at 325.00 cents and then at the August low of 321.00 cents. First resistance is seen at 335.00 cents and then at today's high of 338.45 cents. Wyckoff's Market Rating: 3.5.

ENERGIES: October crude oil closed down $5.10 at $110.36 a barrel today. Prices closed nearer the session low today and hit a fresh 4.5-month low as Hurricane Gustav did not produce serious damage to U.S. energy infrastructure in the Gulf of Mexico. Prices traded down the $10.00 limit at one point today. More serious chart damage was inflicted today to suggest a major market top was scored in July. The next upside price objective for the crude oil bulls is to produce a close above solid technical resistance at $115.00. The next downside price objective for the bears is producing a close below solid technical support at today's low of $105.46 a barrel. First resistance is seen at $112.00 and then at $113.00. First support is seen at $109.00 and then at $107.50. Wyckoff's Market Rating: 4.0.

STOCKS, FINANCIALS, CURRENCIES: The December Euro currency closed down 123 points at 1.4440 today. Prices closed nearer the session low and hit a fresh 6.5-month low today. A six-week-old downtrend line is still in place on the daily bar chart. Euro bulls' next upside price objective is pushing and closing prices above solid technical resistance at 1.4812. The next downside price objective for the bears is closing prices below solid chart support at 1.4250. First resistance for the Euro lies at 1.4500 and then at 1.4550. Next support is seen at today's low of 1.4389 and then at 1.4350. Wyckoff's Market Rating: 3.5.

The December U.S. dollar index closed up 37 points at 78.55 today. Prices closed near mid-range but did hit a fresh 6.5-month high today. Prices are still in a six-week-old uptrend on the daily bar chart. Bulls still have some upside technical momentum, gained more strength today, and their next upside price objective is to close prices above solid technical resistance at 79.00. The next downside price objective for the bears is to produce a close below solid technical support at 77.50. Next resistance lies at today's high of 78.86 and then at 79.00. First support is seen at today's low of 78.24 and then at 78.00. For more information on the U.S. dollar index and it's related markets go to www.tradertech.com. Wyckoff's Market Rating: 7.0.

December U.S. T-Bonds closed up 29/32 at 118 7/32. Prices closed near the session high, scored a bullish "outside day" up on the daily bar chart and closed at a fresh five-month high close today. Bond market bulls still have the solid near-term technical advantage and gained more strength today amid financial sector worries. The next downside price objective for the bears is closing prices below solid technical support at today's low of 116 17/32. The next upside technical objective for the bulls is to produce a close above solid technical resistance at the March high of 118 10/32. First resistance is seen at 118 10/32 and then at 118 16/32. First support is seen at 118 even and then at 117 16/32. Wyckoff's Market Rating: 8.0.

Forecast the stock market with up to 80% accuracy using intermarket analysis! VantagePoint Trading Software provides Traders with recent market predictions for hundreds of STOCKS, representing major companies and industries. Go here now to receive your complimentary forecasts.