March S&P Futures: I think the market will now drop to 1275 or so before beginning an upswing to 1320.
June Bonds: The market bounced off of support at 111-16 but won’t go much higher than112-08. Next downside target is 110-12. I think the market is on its way into the 107-108 zone.
June 10 Year Notes: The notes dropped a bit below support at 107-10 and any rally from current levels should halt near 107-24. Next downside target is 106-16. I think notes will reach 104 or so in a few months.
Cash Eurocurrency: The market breached resistance at 119.80 yesterday but should hold below 120.80. The next downside target is116.70. A drop to 113 and below is underway.
April Crude: Resistance is near 63.50 and the next swing should drop the market to 57.20. Crude is headed for 52.00 and eventually lower than that.
April Gold: Still holding resistance at 570 but silver’s upside breakout makes me think gold can move up to 590 before a big drop begins.
May Silver: Yesterday’s upside breakout on high volume means that the market is headed for 1095. Meantime support should be at 1000.
Google: I think the 337 low will hold and that the next move will carry GOOG to 405 and then to 495.
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