March S&P Futures: The S&P’s are now headed for 1243 (a bit lower than the 1246 level I cited late yesterday). I think the market will rally from there to 1298.
March Bonds: The bonds re headed for the next upside target at 115-12. Support stands at 113-28. I expect a rally into the 115-116 zone before the bear market resumes.
March 10 Year Notes: Support is at 109-08 and I expect a move to 110-12 as the next development. The notes will move into the 111-112 zone before the bear market resumes.
March Eurocurrency: Wednesday’s sharp rally was decisively reversed later that day so the market now is on its way to 118.20. From there it should move up to 122.30.
February Crude: I now think the market is headed for 62.00 and then to 64.30. I expect crude to trade in a range of $54 to $64 for several months before going much lower.
February Gold: Gold will go to 533 before dropping back below 500. I think that the 544.90 high will hold for at least several weeks.
March Silver: Silver hit 900 but is still making higher lows. I think this means that the rally will continue to 920 before a break below 800 begins. The high at 934.5 (electronic) will hold for at least several weeks.
Google: GOOG will trade between 415 and 435 for a few days. The next upside target is 490.