March S&P E-mini Futures: Switching to the March 2010 contract today which trades 4.50 points below December. Last night the market broke upwards from the trading range of the past two days. I think this means that the e-minis are headed for 1140, not 1040. Today's range estimate for the March contract is 1094-1108.
QQQ: Upside target is 47.50.
TYX (thirty year bond yield): I think this market has begun a move to 5.00%.
TNX (ten year note yield): I think that the market has begun a swing up to 4.30%.
Euro-US Dollar: I think the market is headed for 160. Meantime support is at 147.50.
Dollar-Yen: I think the dollar-yen is headed down to 80.
January Crude: I think that crude is headed down to 50.00. Resistance is still at 81.00.
GLD – February Gold: I still think gold has more to go on the upside. Meantime support is at 1130.
SLV - March Silver: The 1900 target has been reached. Still no sign of a top so continuation upward to 2100 is likely.
Google: Support is now at 535. This step upward will carry to 610.