![](http://photos1.blogger.com/x/blogger/3426/1040/400/775995/012207%20qqqq%20update.jpg)
![](http://photos1.blogger.com/x/blogger/3426/1040/400/647245/012207%20spider%20update.jpg)
![](http://photos1.blogger.com/x/blogger/3426/1040/400/104247/012207%20sp%20update.jpg)
Here are hourly charts for the March S&P futures, the Spiders, and the QQQQ's. I last commented on these markets this morning.
We have seen a modest amount of follow-through selling subsequent to the wide range, down bar this morning. This afternoon's rally has been weak and I still think the market is headed for the downside targets illustrated on the charts.
Once those targets are reached I expect to see a rally to new bull market highs.
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