Don't cry over spilled milk. Forget yesterday's losers. Every day is a fresh start. And don't blame "the market" for your losses. Take responsibility. Learn to accept trading losses as a part of the trading process.

- Jim Wyckoff

T4 Futures Trading Platform: Complimentary Demo Account

Move up the ladder of trading success with The Trading Pro's Secret: Intermarket Analysis. This easy to read eBook aids in the understanding of intermarket analysis and why it is an essential tool for trading success. You will also receive complimentary recent markets forecasts for over 600 world markets.

Go here to receive your EBook and markets forecasts -- at no charge!

Hello Fast Break readers. I very much enjoy showing you some of my work and I hope you enjoy and benefit from it. Today, I want to again show you part of my latest Daily Markets Update report from Monday afternoon. I do a brief, mostly technically oriented, analysis of all the major markets traded in the U.S. Below you can check out the key near-term technical support and resistance levels on the markets you are trading. Don't forget that most markets are somehow inter-related and react to each other's significant price moves. It's a concept called "Intermarket analysis" and veteran traders know its significance. To find out more go here. It's not prudent for traders to just follow one market closely, especially nowadays. -- Jim Wyckoff

Jim Wyckoff's Daily Markets Update for Monday--Selected Commodities

LIVESTOCK: December live cattle closed up $0.55 at $93.25 today. Prices closed nearer the session high today and hit a fresh three-week high on short covering. While the bears do still have the overall near-term technical advantage, the bulls have gained some upside momentum recently, but have more work to do to better suggest a market low is in place. Prices are still trading below a four-month-old downtrend line on the daily bar chart. Bulls' next upside price objective is to push prices above solid technical resistance at $96.00. The next downside technical objective for the bears is pushing and closing prices below solid technical support at $90.00. First resistance is seen at today's high of $93.80 and then at $94.00. First support is seen at $93.00 and then at today's low of $92.50. Wyckoff's Market Rating: 3.5.

December lean hogs closed down $0.40 at $54.40 today. Prices closed near the session low again today and hit a fresh contract low. Hog bears still have the near-term technical advantage, amid bearish cash market fundamentals. Prices are still in a three-month-old downtrend on the daily bar chart. The next upside price objective for the bulls is to push prices above solid chart resistance at $57.40, which would fill on the upside a downside price gap on the daily chart. The next downside price objective for the bears is pushing prices and closing below solid technical support at $52.00. First resistance is seen at today's high of $55.20 and then at $56.00. First support is seen at today's contract low of $54.10 and then at $53.50. Wyckoff's Market Rating: 1.0.

GRAINS: December corn futures closed up 3/4 cent at $4.02 1/4 today. Bearish "outside markets"--a stronger U.S. dollar and sharply lower crude oil prices--pressured the corn market today. Prices traded sharply higher early in the session on short covering, but the gains faded as the day wore on. For more information on grains and it's related markets go here. Corn prices are still trading below a four-month-old downtrend line on the daily bar chart. The next downside price objective for the bears is to push and close prices below solid technical support at the October low of $3.64. The bulls' next upside price objective is to push and close prices above solid technical resistance at last week's high of $4.33. First resistance for December corn is seen at $4.10 and then at today's high of $4.18. First support is seen at $4.00 and then at today's low of $3.94 1/2. Wyckoff's Market Rating: 3.0

January soybeans closed up 7 1/4 cents at $9.40 1/4 today. Prices closed near mid-range today. Bearish "outside markets"--a stronger U.S. dollar and sharply lower crude oil prices--did limit the upside in beans today. Short covering was featured today. Soybean bears remain in near-term technical command. The next upside price objective for the bean bulls is to push and close prices above major psychological resistance at $10.00 a bushel. The next downside price objective for the bears is pushing and closing prices below psychological support at $9.00. First resistance for January soybeans is seen at today's high of $9.57 and then at last week's high of $9.74. First support is seen at today's low of $9.19 1/4 and then at $9.00. Wyckoff's Market Rating: 3.5.

December Chicago SRW wheat closed up 25 3/4 cents at $5.62 today. Prices closed nearer the session high today on short covering. The wheat bears still have the overall near-term technical advantage. Prices are still in a 6.5-month-old downtrend on the daily bar chart. For more information on grains and it's related markets go here. The next downside price objective for the bears is pushing and closing prices below major psychological support at $5.00. Bulls' next upside price objective is to push and close December futures prices above psychological resistance at $6.00 a bushel. First resistance is seen at today's high of $5.75 and then at last week's high of $5.78 1/2. First support lies at $5.50 and then at today's low of $5.32 3/4. Wyckoff's Market Rating: 3.0.

SOFTS: March sugar closed up 27 points at 12.29 cents today. Prices closed near the session high today on more short covering. Prices are still trading below a 2.5-month-old downtrend line drawn from the August and September highs. Bulls' next upside price objective is to push and close prices above solid technical resistance at 13.00 cents. Bears' next downside price objective is to push and close prices below solid technical support at 11.50 cents. First resistance is seen at last week's high of 12.35 cents and then at 12.50 cents. First support is seen at 12.00 cents and then at today's low of 11.92 cents. Wyckoff's Market Rating: 4.0.

December coffee closed down 5 points at 112.95 cents today. Prices closed near mid-range today in quieter trading. Buying interest was limited by Bearish "outside markets"--a stronger U.S. dollar and sharply lower crude oil prices. Coffee bears still have the near-term technical advantage. Prices are still in a 10-week-old downtrend on the daily bar chart. Coffee bulls' next upside price objective is pushing and closing prices above solid technical resistance at 121.10 cents. For more information on coffee and it's related markets go here. The next downside price objective for the bears is closing prices below solid technical support at last week's low of 105.05 cents a pound. First support is seen at today's low of 111.50 cents and then at 110.00 cents. First resistance is seen at last week's high of 114.65 cents and then at 117.35 cents. Wyckoff's Market Rating: 2.5.

December cocoa closed down $86 at $1,967 today. Prices closed near the session low today amid bearish "outside markets"--a stronger U.S. dollar and sharply lower crude oil prices. Cocoa bears still have the overall near-term technical advantage and gained more power today. The next upside price objective for the cocoa bulls is to push and close prices above solid technical resistance at $2,100. The next downside price objective for the bears is pushing and closing prices below solid technical support at the October low of $1,867. First resistance is seen at $2,000 and then at $2,025. First support is seen at today's low of $1,955 and then at $1,924. Wyckoff's Market Rating: 2.0.

December cotton closed up 27 points at 44.56 cents today. Prices closed nearer the session low today in quiet trading. Bearish "outside markets"--a stronger U.S. dollar and sharply lower crude oil prices--limited buying interest in cotton today. The cotton bears still have the solid near-term technical advantage. Prices are in a 7.5-month-old downtrend on the daily bar chart. The next downside price objective for the bears is to produce a close below strong technical support at 42.50 cents. The next upside price objective for the bulls is to produce a close above solid technical resistance at 48.00 cents. First resistance is seen at today's high of 45.14 cents and then at 46.00 cents. First support is seen at the contract low of 43.64 cents and then at 43.00 cents. Wyckoff's Market Rating: 1.0.

January orange juice closed up 65 points at $.8095. Prices closed near the session low today. Short covering was featured. Bearish "outside markets"--a stronger U.S. dollar and sharply lower crude oil prices--limited the upside in FCOJ today. Bears still have the overall near-term technical advantage as prices are still in a four-month-old downtrend on the daily bar chart. The next downside technical objective for the FCOJ bears is to produce a close below solid technical support at the contract low of $.7540. The next upside price objective for the OJ bulls is pushing prices above solid technical resistance at $.8500. First resistance is seen at .8250 and then at today's high of $.8385. First support is seen at $.8300 and then at last week's low of $.8010. Wyckoff's Market Rating: 2.0.

METALS: December gold futures closed up $6.50 at $724.70 today. Prices closed nearer the session low. Short covering was featured. Bearish "outside markets"--a stronger U.S. dollar and sharply lower crude oil prices--limited the upside in gold today. Bears still have the overall near-term technical advantage. Bears' next downside price objective is closing prices below solid technical support at the October low of $681.00. For more information on metals and it's related markets go here. Gold bulls' next upside price objective is to produce a close above solid technical resistance at last week's high of $778.30. First resistance is seen at today's high of $739.50 and then at $750.00. Support is seen at today's low of $721.80 and then at Friday's low of $717.10. Wyckoff's Market Rating: 3.0.

December silver futures closed steady at $9.73 an ounce today. Prices closed nearer the session low today. Bearish "outside markets"--a stronger U.S. dollar and sharply lower crude oil prices--pressured the silver market today. Bears still have the overall near-term technical advantage. Prices are still trading below a 3.5-month-old downtrend line on the daily bar chart. Silver bulls' next upside price objective is closing prices above psychological resistance at $11.00 an ounce. The next downside price objective for the bears is closing prices below solid technical support at the contract low of $8.40. First resistance is seen at $10.00 and then at today's high of $10.26. Next support is seen at today's low of $9.60 and then at $9.50. Wyckoff's Market Rating: 2.5.

ENERGIES: December crude oil closed down $3.84 at $63.97 a barrel today. Prices closed near the session low today. A firmer U.S. dollar pressured crude oil. Crude oil bears do still have the solid near-term technical advantage. Prices remain in a 3.5-month-old downtrend on the daily bar chart. The next downside price objective for the crude oil bears is to produce a close below technical support at $60.00. For more information on energies and it's related markets go here. The next upside price objective for the bulls is producing a close above technical resistance at last week's high of $70.60 a barrel. First resistance is seen at $65.00 and then at $66.00. First support is seen at $63.00 and then at $62.50. Wyckoff's Market Rating: 2.5.

Jim Wyckoff is the senior market analyst with www.TradingEducation.com. The site is dedicated to helping traders at all levels learn their craft better so they can improve their odds for trading success. The site focuses on current market conditions as well as a variety of educational materials that will give traders of stocks, currencies, futures and options sound background information about trading and important trading concepts. TradingEducation.com has assembled an outstanding team of analysts, including Jim, who have years of experience in trading or covering markets of all types.

Jim has spent nearly 25 years involved with the stock, financial and commodity markets. He was a financial journalist with what is now the Dow Jones Newswires service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York. As a journalist, he has covered every futures market traded in the U.S., at one time or another. Not long after he began his career in financial/commodity market journalism, Jim began studying technical analysis. By studying chart patterns and other technical indicators, Jim realized the playing field could be leveled between the "professional insiders" in the markets, and traders/analysts like himself. As a proponent of Intermarket Analysis, VantagePoint Intermarket Analysis Software is one of the tools in Jim's tool-box.

Move up the ladder of trading success with The Trading Pro's Secret: Intermarket Analysis. This easy to read eBook aids in the understanding of intermarket analysis and why it is an essential tool for trading success. You will also receive complimentary recent markets forecasts for over 600 world markets.

Go here to receive your EBook and markets forecasts -- at no charge!