Spiders - March S&P Futures: I am expecting the S&P’s to rally to 1425 and then drop to 1380 before a move to new bull market highs can start. The Spiders should rally to 142.50 and then drop to 138.00.
QQQQ: I expect The Q’s to rally to 44.30 and then drop to 42.80 before a move to new bull market highs can start.
TLT - March Bonds: The lows made on January 26 will hold. TLT is now headed up into the 94-95 range. The bonds should hold support near 112-24 and then rally to 114.16. Over the next few months the bonds are headed for 120.
March 10 Year Notes: I now believe the notes made their low on January 26 and are now headed for 111. Short term support is at 108-16 and the next upside target is 109-18.
Euro-US Dollar: The euro has developed a little more strength than I expected but the 132.60 level is strong resistance. From there I expect another downleg to start.
Dollar-Yen: Support is 117.50 and the next upside target is 123.60. I expect to see the yen trade at 130 in 2007.
OIH - USO - April Crude: OIH should soon drop to 129-130. USO should drop to 45. Resistance in April crude is at 62.50 and from there the market should drop to 55.00.
GLD - April Gold: I think that both GLD and April gold are very near important tops. An extended drop will start soon.
May Silver: Switching to the May contract. Silver has resistance at 1475. Its bear market will resume soon.
Google: Support is now in the 445-50 range. Google is headed upward to 564.