Don't put all your eggs in one basket. Don't look for that "home run" trade by placing heavy bets on that one futures trade that you "hope" will be a big winner and "hope" to cash in on huge profits. Successful traders will tell you they prefer "base hits" (smaller to medium-size winners) on a more regular basis.

- Jim Wyckoff

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Hello once again Fast Break readers. It's always my pleasure to be able to show you some of my latest work. In today's issue of Fast Break, I'm showing you a portion of my latest Daily Markets Update email report from Tuesday afternoon. My daily email reports provide a quick recap of the day's market price action, including key technical developments and support and resistance levels. I enjoy hearing from my readers worldwide. Please email me at jim@jimwyckoff.com if you have any questions, or if you just want to say hello.

Tuesday Evening, February 10 -- Jim Wyckoff's Daily Markets Update

METALS: April gold futures closed up $25.70 at $918.50 today. Prices closed near the session high on more safe-haven buying as the stock market sunk today. Prices have been pausing since the late-January high and that pause is not bearish. Prices are still in a choppy four-month-old uptrend on the daily bar chart. The bulls still have the near-term technical advantage and regained some momentum today. Go here to see complimentary recent forecasts for gold. Bears' next downside price objective is closing prices below solid technical support at $890.00. Gold bulls' next upside price objective is to produce a close above solid technical resistance at the January high of $931.30. First resistance is seen at $926.30 and then at $931.30. Support is seen at $910.00 and then at $900.00. Wyckoff's Market Rating: 7.5.

March silver futures closed up 35.0 cents at $13.18 an ounce today. Prices closed near the session high, scored a fresh 4.5-month high and also scored a bullish "outside day" up on the daily bar chart today. Bulls still have upside near-term technical momentum and gained fresh power today. Prices are in a three-month-old uptrend on the daily bar chart. Bulls' next upside price objective is closing prices above psychological resistance at $14.00 an ounce. The next downside price objective for the bears is closing prices below solid technical support at last week's low of $12.135. First resistance is seen at today's high of $13.215 and then at $13.30. Next support is seen at $13.00 and then at today's low of $12.725. Wyckoff's Market Rating: 7.5.

March N.Y. copper closed down 530 points at 156.00 cents today. Prices closed near the session low. The outside markets were bearish today -- lower crude oil prices, a stronger U.S. dollar and sharply lower U.S. stock indexes. Copper bears still have the overall near-term technical advantage. Go here to see how copper's related markets influence it . The next downside price objective for the bears is closing prices below solid technical support at 140.00 cents. Bulls' next upside objective is pushing and closing prices above solid technical resistance at 180.00 cents. First support is seen at 150.00 cents and then at 147.50 cents. First resistance is seen at 160.00 cents and then at this week's high of 165.50 cents. Wyckoff's Market Rating: 2.0.

ENERGIES: March crude oil closed down $1.63 at $37.93 a barrel today. Prices closed near the session low today and hit a fresh contract low, amid the big sell off in the stock market and ideas Wednesday's weekly DOE stocks report would be bearish. Bears still have the overall near-term technical advantage and gained more downside momentum today. There are still no solid early technical clues that a market bottom is close at hand. Prices also remain in a 6.5-month-old downtrend on the daily bar chart. The next downside price objective for the crude oil bears is to produce a close below solid technical support at $35.00. The next upside price objective for the bulls is producing a close above solid technical resistance at $45.00 a barrel. First resistance is seen at $39.00 and then at $40.00. First support is seen at today's contract low of $37.35 and then at $37.00. Wyckoff's Market Rating: 1.0.
 
March natural gas closed down 25.5 cents at $4.552 today. Prices closed near the session low today. The bears still have the solid near-term technical advantage amid no early technical clues that a market low is close at hand. Go here to see complimentary recent forecasts for natural gas. The next upside price objective for the bulls is closing prices above solid technical resistance at $5.50. The next downside price objective for the bears is closing prices below solid technical support at the contract low of $4.28. First resistance is seen at $4.75 and then at this week's high of $4.88. First support is seen at $4.50 and then at $4.28. Wyckoff's Market Rating: 1.5.

FINANCIALS, CURRENCIES: The March Euro currency closed down 136 points at 1.2881 today. Prices closed nearer the session low today. Trading has turned choppy recently. Prices are still in a seven-week-old downtrend on the daily bar chart. The Euro bears still have the overall near-term technical advantage. Euro bulls' next upside price objective is pushing and closing prices above solid technical resistance at 1.3321. The next downside price objective for the bears is closing prices below solid chart support at the February low of 1.2698. First resistance for the Euro lies at 1.3000 and then at this week's high of 1.3087. Next support is seen at today's low of 1.2802 and then at the February low of 1.2698. Wyckoff's Market Rating: 2.5.

The March Japanese yen closed up 146 points at 1.1089 today. Prices closed near the session high. Recent near-term technical damage has been mostly repaired. Bulls' next upside price objective is closing prices above solid resistance at last week's high of 1.1300. Bears' next downside objective is closing prices below solid technical support at this week's low of 1.0829. First resistance is seen at today's high of 1.1100 and then at 1.1200. First support is seen at 1.1000 and then at today's low of 1.0914. Wyckoff's Market Rating: 7.0.

The March Swiss franc closed up 24 points at .8636 today. Prices closed nearer the session high on short covering in a bear market. Prices did hit a fresh two-month low early on today. Bears still have the overall near-term technical advantage. Prices are still in a six-week-old downtrend on the daily bar chart. Go here to see how the Swiss franc's related markets influence it. The next upside price objective for the bulls is closing prices above solid resistance at last week's high of .8778. The next downside price objective for the bears is closing prices below solid technical support at today's low of .8491. First resistance is seen at today's high of .8695 and then at .8750. First support is seen at .8567 and then at last week's low of .8519. Wyckoff's Market Rating: 2.5.

The March Australian dollar closed down 283 points at .6485 today. Prices closed near the session low. Bears have the overall technical advantage and regained downside momentum today. Bulls' next upside price objective is closing prices above solid resistance at this week's high of .6832. The next downside objective for the bears is to produce a close below solid technical support at last week's low of .6231. First resistance is seen at .6600 and then at .6700. Next support is seen at today's low of .6469 and then at .6400. Wyckoff's Market Rating: 2.5.

The March Canadian dollar closed down 190 points at .8011 today. Prices closed near the session low today. Bears still have the near-term technical advantage and regained downside momentum today. Go here to see complimentary recent forecasts for the Canadian dollar. Bulls' next upside price objective is producing a close above solid chart resistance at this week's high of .8248. The next downside price objective for the bears is closing prices below solid technical support at the January low of .7830. First resistance is seen at .8100 and then at .8150. First support is seen at today's low of .8000 and then at last week's low of .7968. Wyckoff's Market Rating: 2.5.

The March British pound closed down 440 points at 1.4465 today. Prices closed near the session low. Bears still have the overall near-term technical advantage and gained fresh downside momentum today. The next upside price objective for the bulls is closing prices above solid technical resistance at the January high of 1.5356. Bears' next downside technical objective is closing prices below solid support at last week's low of 1.4044. First resistance is seen at 1.4600 and then at 1.4700. First support is seen at 1.4400 and then at 1.4300. Wyckoff's Market Rating: 2.5.

The March U.S. dollar index closed up 111 points at 86.16 today. Prices closed nearer the session high today. Bulls still have the overall near-term technical advantage, and regained some upside momentum today. Bulls' next upside price objective is to close prices above solid technical resistance at the January high of 87.40. Go here to see how the U.S. dollar's related markets influence it. The next downside price objective for the bears is to produce a close below solid technical support at 84.00. Next resistance lies at today's high of 86.30 and then at 86.50. First support is seen at 86.00 and then at 85.50. Wyckoff's Market Rating: 6.5.

March U.S. T-Bonds closed up 2 7/32 at 127 28/32 today. Prices closed nearer the session high on short covering and flight-to-quality buying today amid a big sell off in the stock market. More stock market weakness in the near term will continue to support the U.S. Treasuries. Today's price action alleviated to some degree worries of U.S. Treasuries being sold by the government to finance its big spending plans. Prices are still in a six-week-old downtrend on the daily bar chart. However, good upside price action the rest of this week would negate that downtrend and provide the bulls with some fresh upside near-term technical momentum. The next downside price objective for the T-Bond bears is closing prices below solid technical support at 124 even. The next upside technical objective for the bulls is to produce a close above solid technical resistance at 130 even. First resistance is seen at today's high of 128 9/32 and then at 129 even. First support is seen at 127 even and then at 126 16/32. Wyckoff's Market Rating: 5.0.

March U.S. T Notes closed up 1 16.5 (32nds) today at 123.02.5. Prices closed near the session high today on short covering and bargain-hunting buying interest, amid the stock market sell off. Go here to see complimentary recent forecasts for the U.S. T Note. The next upside price objective for the bulls is closing prices above solid resistance at 125.00.0. The next downside price objective for the bears is producing a close below solid technical support at 120.00.0. First resistance is seen at today's high of 123.10.5 and then at 124.00.0. First support is seen at 122.16.0 and then at 122.00.0. Wyckoff's Market Rating: 5.0.

Complimentary Forex Trading EBook!

In today's global economy, markets drive and influence each other. Still, many traders are only analyzing a single market at a time and ignoring related markets. VantagePoint Trading Software uses intermarket analysis to predict market trends for over 600 world markets with nearly 80%* accuracy. As an added bonus traders can also receive a complimentary Forex EBook, along with their complimentary market forecast provided by VantagePoint. Go here now to receive both.