March S&P E-mini Futures: Today's range estimate for the March contract is 1102-1116. The market remains stuck in a trading range between 1080 and 1115. I still think a visit to the low end of this range, possibly as low a s 1075, is likely before an upside breakout can develop.
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: A drop to 140 is underway.
Dollar-Yen: The drop below the 87.00 level is starting to look like a false breakout. A move above 91 will mean that continuation up to 100 is likely.
January Crude: I think that crude is headed down to 50.00. Resistance is still at 75.00.
GLD – February Gold: Gold closed below 1100 support yesterday. This means the trend has turned downward. I expect gold to drop to 875 over the next few months.
SLV - March Silver: I now think silver has started a down move that will carry it to 10.00 over the next few months.
Google: Support is now at 565. This step upward will carry to 610.