Spiders - March S&P Futures: I expect the Spiders to stall briefly near 145.00. Support is at 144.00. The futures have nearly reached the 1455-58 range and will probably react 10 points or so before resuming the rally. Support in the futures is at 1445.
QQQQ: The Q’s should rally up to 47-48.
TLT - March Bonds: TLT should find support near 86.50. I expect the market to start a trading range in this vicinity which should be followed a rally to 94-95. The bonds should find support near 109-24 and then rally to 111-00. After that the market will probably drop to 108-28. 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 probably drop to 106-12, rally to 107-08 and then drop again to 105-24. 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 rally should hold resistance at 130.50 and then begin a drop to support near 126.90.
Dollar-Yen: The yen should hold support near 119.80 and then rally to 123.20. I expect to see the yen trade at 130 in 2007.
OIH - USO - March Crude: Upside target for OIH is 140. After a reaction USO should move up to 51. This morning crude got within 60 cents of the 60.00 target without any reaction first. The next move should be a drop to 54.00.
GLD - April Gold: GLD is headed for the 67-69 range before the bear market resumes. Switching to the April contract in gold. I expect April gold to rally to 675-690 and then resume its bear market.
March Silver: I think silver is on its way up to 1395. From there the bear market should resume.
Google: A move up to 564 is underway. Support is at 477.