Guesstimates on March 1, 2013

March S&P E-mini Futures: Today's day session range estimate is 1496-1511. Yesterday's late drop from the third top above 1520 means that the ES is headed for 1467. Even so, I still think that the market will rally into strong, long term resistance between 1540 and 1587 before a drop of more than 10% develops.

QQQ:  The Q's are now headed for 63.50.

TNX (ten year note yield): Bond yields are going much higher as the market begins to anticipate stronger economic growth. The first upside yield target for the 10 year is 2.50%.

Euro-US Dollar: The has broken well below 1.3150 support so I think it is now headed down to 1.2700.

Dollar-Yen: I think this bull market has further to go, at least to 96 or so and probably to 99-100.

April Crude:  The September 2012 top is just above 100 and unless the market starts accepting prices above that level I will stick with my view that it is headed for 70 and lower. Resistance above the market is now at 101.

April Gold:  Gold is likely to find support near its last two lows in the 1530-40 range.

March Silver: Silver should find support near the 26.00 level.

Google: Google has traded above the 800 level and  is on its way to 950.

Apple:  During the current rally in the averages AAPL has underperformed the market and GOOG. Longer term downside target is 350 and near term support is 435. Meantime resistance above the market is at 525.