Spiders - March S&P Futures: The Spiders are headed for 146.80 and the S&P’s for 1470. Support today in the Spiders is at 144.70 and is at 1450 in the S&P’s.
QQQQ: I expect the Q’s to rally first to 45.60 and then into the 47-48 range.
TLT - March Bonds: TLT should drop to 86.00. The market has begun a trading range which should be followed a rally to 94-95. The bonds should drop to 108-28 while resistance today is at 111-22. I think a basing process has begun that will be followed by a move above the 115 level.
March 10 Year Notes: The notes will drop to 105-24 while resistance today is at 107-23. I think the market has begun a basing process. After it is complete I expect a move to above the 110 level.
Euro-US Dollar: The euro is stalling at 131.50 resistance but I think the market will rally a little more to 132.30 before resuming its decline.
Dollar-Yen: The yen should rally to 123.20. Support at 119.80 was broken yesterday but it looks like the market will end its reaction near 118.80/ I expect to see the yen trade at 130 in 2007.
OIH - USO - March Crude: Upside target for OIH at 140 was hit and this swing should carry the market to 131. USO hit the 50 level and now should drop to 46-47. Crude has reached 60.00 and is about to drop to 54.00.
GLD - April Gold: Resistance in GLD is the 67-69 range. Resistance in gold is 675-690. From those ranges I expect both markets to resume bear market declines.
March Silver: I think silver will move a little higher to 1430. From there the bear market should resume.
Google: Google has dropped nearly to its last low at 454 but I think this reaction is over and that the next big move will be upward to 564.