Spiders - March S&P E-mini Futures: I think the market will hold above 852.75 but any significant selling activity below the 850 level will mean that the e-minis are headed down at least to 810 and probably to 750.
QQQ: The Q’s are headed for 34. The 29.50 level is support.
March Bonds: The short term trend has turned downward and should carry the bonds to 130.
March 10 Year Notes: The short term trend has turned downward and should carry the notes to 120. .
Euro-US Dollar: The euro broke below support and will probably drop to 132 before a substantial rally can start.
Dollar-Yen: I think the 87.50 level will hold and that a rally to 100.00 is underway.
February Crude: Crude should reach the 30-35 target zone before rallying to the 50.00 level.
GLD - February Gold: The 885 level is still resistance and the market should resume its move down into the 550-600 range.
SLV - March Silver: I still think this is a bear market. Resistance above the market is at 1165. Next downside target is 650.
Google: Google has reached the 250-60 target zone which should be the end of its drop from 747.
1 comment:
Carl
We will open in the lower end of the target zone. Is it still valid?
Brent
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