March S&P Futures: In early trading this morning the market traded as low as 1428.75 which is visibly below the 1432-34 support zone. Nonetheless I still think the S&P’s are putting in a low here and will soon begin an advance to 1455.
March Bonds:. Next short term support is at 111-24. The bonds are headed down into the 109-110 range
March 10 Year Notes: Next short term support is at 108-00. The notes are headed down into the 105-106 range.
Euro-US Dollar: I think that a move to 116 and lower has begun. Resistance above the market today is at 131.60.
Dollar-Yen: I think a move to 121 and ultimately to 130 has begun. Support stands at 117.40.
February Crude: Resistance above the market is at 63.80. I expect crude to drop to 57.50.
February Gold: I think a big drop in gold is underway and will carry the market below 500. Short term support is 605.
March Silver: I think a big drop in silver is underway and will carry the market below 900. The 1195 level is now short term support.
Google: Yesterday Google broke below 475 support and now I think it will have to drop to 450 or so before a rally to 564 can begin.