Guesstimates on January 29, 8:50 am ET

Spiders - March S&P Futures: I expect the Spiders to hold support near 141.60 and then to resume their rally to 145.00. The futures should hold support near 1421 and then move up to 1455.

QQQQ: The Q’s should hold support near 43.20 and then resume the move up to 47-48.

TLT - March Bonds: TLT should find support near 86.50. I expect the market to start a trading range in this vicinity which should be followed a rally to 94-95. The bonds have nearly reached support near 109-04. A rally to 110-00 or so is likely and should be followed by a move to 108-28. I think a basing process has begun that will be followed by a move above the 115 level.

March 10 Year Notes: The notes have reached their downside target at 106-08. A rally to 106-24 is likely. After that the notes will probably drop to 105-28. I think the market has begun a basing process. After it is complete I expect a move to above the 110 level.

Euro-US Dollar: The Euro is about to break downward from its recent trading range. Next support is at 126.90.

Dollar-Yen: The yen is now headed for 122.50. Support is at 119.80. I expect to see the yen trade at 130 in 2007.

OIH - USO - March Crude: I think OIH will drop to 128 or so and then rally back to 137. USO still has resistance at 47.00 and from there will drop back to 43.00. I think crude will drop close to 52.00 and then rally to 57.50.

GLD - February Gold: GLD has so far stalled in the 64.00 - 65.00 zone and a close below 64.00 would have very bearish implications. Gold has not closed above 649 so I think it is still a good bet that the market will drop from here.

March Silver: Silver is close to support at 1323. A close below there would be very bearish. Meantime I have to believe that silver will rally at least to1365.

Google: A move up to 564 is underway. Support is at 485.