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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 research. In today's issue of Fast Break, I'm showing you a portion of my latest comprehensive Daily Markets Update email report from Monday afternoon. My daily email reports provide a recap of the day's market price action, including key technical developments and support and resistance levels. The Market Rating System is based on a scale of 1 to 10, with 1 being the most bearish market rating and 10 being the most bullish market rating. The number 5 would be a neutral rating. And it is not uncommon to see fractions used -- like 1.5, 3.5, etc. -- if conditions warrant.

LIVESTOCK: June live cattle closed down $1.90 at $82.62 today. Prices gapped sharply lower on the daily bar chart, hit a fresh three-week low today and closed near the session low. After the bulls had gained good upside technical momentum recently, chart damage was inflicted today and the bears have regained downside technical momentum. The key "outside markets" were in a strongly bearish posture for cattle today, as crude oil prices were sharply lower, the U.S. stock indexes were sharply lower and the U.S. dollar was solidly higher. Interrelated markets often affect the target market - to find out how go here. A three-week-old uptrend on the daily bar chart was soundly negated today. Cattle bulls' next upside price objective is to push prices above solid technical resistance at $84.50, which would fill on the upside today's downside price gap on the daily chart. The next downside technical objective for the bears is pushing and closing prices below solid technical support at the March low of $80.00. First resistance is seen at $83.00 and then at $83.50. First support is seen at today's low of $82.45 and then at $82.00. Wyckoff's Market Rating: 3.5.

June lean hogs closed down $1.32 at $72.30 today. Prices gapped lower on the daily bar chart, hit a fresh three-week low today and closed near mid-range. The key "outside markets" were in a strongly bearish posture for hogs today, as crude oil prices were sharply lower, the U.S. stock indexes were sharply lower and the U.S. dollar was solidly higher. Bears have the technical advantage and gained fresh downside momentum today. The next upside price objective for the bulls is to push and close prices above solid chart resistance at the April high of $74.75. The next downside price objective for the bears is pushing and closing prices below solid technical support at the March low of $70.57. First resistance is seen at today's high of $73.10 and then at $73.75. First support is seen at $72.00 and then at today's low of $71.70. Wyckoff's Market Rating: 2.0

GRAINS: July corn futures closed down 7 cents at $3.78 3/4 today. Prices closed near mid-range today and hit a fresh six-week low. Go here for an up to 80% accurate forecast for corn. Near-term chart damage has been inflicted in corn recently. Prices are in a three-week-old downtrend on the daily bar chart. Bears have the near-term technical advantage. The bulls' next upside price objective is to push and close prices above solid technical and psychological resistance at $4.00 a bushel. The next downside price objective for the bears is to push and close prices below solid technical support at the March low of $3.54 a bushel. First resistance for July corn is seen at $3.80 and then at today's high of $3.85 1/2. First support is seen at $3.75 and then at today's low of $3.70. Wyckoff's Market Rating: 3.0

July soybeans closed down 30 cents at $10.11 1/2 a bushel today. Prices closed near the session low today on profit-taking pressure from recent gains. No serious chart damage occurred today but the bulls do appear to have become exhausted at higher price levels and need to show fresh power soon. Prices are still in a seven-week-old uptrend on the daily bar chart. The next upside price objective for the bean bulls is to push and close prices above solid technical resistance at last week's high of $10.64 1/2 a bushel. The next downside price objective for the bears is pushing and closing prices below solid technical support at $9.80 a bushel. First resistance for July soybeans is seen at $10.25 and then at $10.40. First support is seen at today's low of $10.09 1/2 and then at $10.00. Wyckoff's Market Rating: 5.5.

July Chicago SRW wheat closed down 18 1/2 cents at $5.16 1/4 today. Prices closed near the session low today and hit a fresh six-week low. Wheat bears have the overall near-term technical advantage and gained more downside momentum today. The next downside price objective for the bears is pushing and closing prices below solid technical support at the March low of $5.10 3/4. Bulls' next upside price objective is to push and close July futures prices above solid technical resistance at last week's high of $5.45 a bushel. First resistance is seen at $5.20 and then at $5.27. First support lies at today's low of $5.12 1/2 and then at $5.10 3/4. Wyckoff's Market Rating: 2.0.

SOFTS: July sugar closed down 34 points at 13.32 cents today. Prices closed near the session low today. Trading has turned choppy in sugar. Bulls and bears are on a level near-term technical playing field. Bulls' next upside price objective is to push and close prices above solid technical resistance at the March high of 14.09 cents. Interested in tomorrow's forecasted trading range for sugar? Go here to see a complimentary recent forecast for sugar. Bears' next downside price objective is to push and close prices below solid technical support at the April low of 12.74 cents. First resistance is seen at 13.50 cents and then at today's high of 13.70 cents. First support is seen at last week's low of 13.25 cents and then at 13.00 cents. Wyckoff's Market Rating: 5.0

July coffee closed down 20 points at 113.55 cents today. Prices closed near mid-range in quieter trading today after a solid down day last Friday that produced a bearish weekly low close. Coffee bears have the near-term technical advantage. Coffee bulls' next upside price objective is pushing and closing prices above solid technical resistance at 120.00 cents. The next downside price objective for the bears is closing prices below solid technical support at 110.00 cents a pound. First support is seen at today's low of 112.80 cents and then at 111.00 cents. First resistance is seen at 115.00 cents and then at 116.50 cents. Wyckoff's Market Rating: 2.5

July cocoa closed down $35 at $2,378 today. Prices closed near mid-range today. Cocoa bears have the solid near-term technical advantage. Prices are in a steep three-week-old downtrend on the daily bar chart. The next upside price objective for the cocoa bulls is to push and close prices above solid technical resistance at last week's high of $2,600. The next downside price objective for the bears is pushing and closing prices below solid technical support at $2,250. First resistance is seen at today's high of $2,401 and then at $2,432. First support is seen at last week's low of $2,350 and then at the February low of $2,313. Wyckoff's Market Rating: 3.0.

July cotton closed down 169 points at 49.00 cents today. Prices closed nearer the session low today on profit-taking pressure from recent gains. No serious chart damage occurred today but the bulls do not want to see solid follow-through selling pressure on Tuesday. Cotton prices are still in a six-week-old uptrend on the daily bar chart. To see a complimentary market forecast for cotton or a related market go here. The next downside price objective for the bears is to produce a close below technical support at 46.00 cents. The next upside price objective for the bulls is to produce a close above solid technical resistance at last week's high of 50.85 cents. First resistance is seen at 49.50 cents and then at 50.00 cents. First support is seen at today's low of 48.60 cents and then at 48.00 cents. Wyckoff's Market Rating: 5.0.

METALS: June gold futures closed up $17.30 at $885.30 today. Prices closed near the session high today amid the sharp sell off in the U.S. stock market. Gold traders ignored the bearish "outside markets"--lower crude oil prices and a stronger U.S. dollar. Short covering in a bear market was featured today and the bears still have the overall near-term technical advantage. Prices are in a two-month-old downtrend on the daily bar chart. Bears' next downside price objective is closing prices below solid technical support at the April low of $865.00. Gold bulls' next upside price objective is to push and close prices above solid technical resistance at $920.00. First resistance is seen at today's high of $889.70 and then at $900.00. Support is seen at $880.00 and then at $875.00. Wyckoff's Market Rating: 4.5.

July N.Y. copper closed down 1,050 points at 209.25 cents today. Prices closed near the session low today on profit-taking pressure. Bulls still have the near-term technical advantage. Copper prices are still in a two-month-old uptrend on the daily bar chart. The next downside price objective for the bears is closing prices below solid technical support at 200.00 cents. Bulls' next upside objective is pushing and closing prices above solid technical resistance at last week's high of 224.15 cents. First support is seen at today's low of 208.85 cents and then at 205.00 cents. First resistance is seen at 212.50 cents and then at 215.00 cents. Wyckoff's Market Rating: 6.0.

ENERGIES: June crude oil closed down $4.02 at $48.45 a barrel today. Prices closed near the session low today, hit a fresh five-week low and saw a bearish downside "breakout" from a wedge pattern on the daily chart. Crude oil bears have regained the near-term technical advantage. A big drop in the stock market today and a stronger U.S. dollar helped to pressure crude oil. Crude oil can have an affect on many different markets. The next downside price objective for the crude oil bears is to produce a close below solid technical support at the February low of $40.85. The next upside price objective for the bulls is producing a close above solid technical resistance at the March high of $56.10 a barrel. First resistance is seen at $49.00 and then at $50.00. First support is seen at today's low of $48.25 and then at $48.00. Wyckoff's Market Rating: 3.5.

Jim Wyckoff is the senior market analyst with TraderPlanet.com . TraderPlanet.com, a Tampa Bay, Fla.-based financial social networking site, provides individual traders of all skill levels a one-stop destination for financial information and trading tools. TraderPlanet.com is the only financial social networking site that offers its members a full suite of market data feeds, advanced technical analysis tools and exclusive analyst commentary across asset classes, while enabling members to give back to the broader world community through gift-giving to charitable causes. Designed to level the playing field between institutional and individual traders, TraderPlanet.com's fully interactive, multi-media rich platform is designed to promote the free-flow exchange of ideas through questions, answers and comments designed to improve trading strategies and investment performance.

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.

Protect your assets by avoiding costly mistakes with this trading E-guide -- without cost!

Learn when to execute a trade, when to enter and exit a trade, and much more with this informative E-guide. Along with the complimentary E-Guide, you'll also receive as a bonus  recent market forecasts for over 600 global markets, including crude oil, the U.S dollar, and many more!

Go here to receive both!