Guesstimates on March 12, 8:50 am ET

Spiders - June S&P Futures: I think the post-employment number highs Friday marked the end of the rally from the March 5 low but even if I am wrong I see strong resistance at 1430 in the futures and 141.90 in the Spiders. There is as yet no sign that the drop from the February 22 top is complete and the 135 level remains my Spider target and 1360 my S&P target.

QQQQ: Resistance still stands at 43.70 and a drop to the 39.50 target is imminent.

TLT - June Bonds: TLT is headed up into the 94-95 range. The bonds should hold the112-08 level and then rally to 114-24. Over the next few months the bonds are headed for 120.

June 10 Year Notes: The notes made their low on January 26 and are now headed for 111. Short term support is at 108-08 and the next upside target is 109-18.

Euro-US Dollar: I think a drop in the euro to below the 125 level is underway.

Dollar-Yen: The yen has been much weaker than I anticipated. My best guess now is that the entire drop from the 122.18 level will carry the market to 113. Meantime the 118.30 level is resistance. 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 63.30 and from there the market should drop to 55.00.

GLD - April Gold: I think that both GLD and April gold have begun an extended decline that will carry gold well below 600. Resistance today in the futures is at 665.

May Silver: Silver has begun an extended drop that will carry the market below 1000. Resistance today in the futures is at 1336.

Google: Support in Google is at 430. From there a move to 564 will begin.