Spiders - March S&P E-mini Futures: I am long from 1391 and am working a 1396 stop. Should the stop get hit I will be looking for a drop into the 1365-75 zone and would expect to be a buyer there. Support today is in the 1400-1410 zone. I think the next step up will bring the futures into the 1450-60 range.
QQQQ: I think the odds are good that the Q’s are headed up to 51.00 and eventually much higher than that.
TLT - March Bonds: I am looking for a move above the 120 level. Support stands at 116-16. TLT is headed for 98.50.
March 10 Year Notes: Headed for 116-16. Support is at 113-20.
Euro-US Dollar: I think that the market is headed for 151 or so.
Dollar-Yen: I think the market will stage a very big rally from the 105.00-106.00 zone.
XLE - OIH - USO – February Crude: A close below 92.00 would mean that the market is headed much lower. Meantime I shall still be looking for a move to 102.50. Looking further ahead I think the market will drop to 75 and lower during the coming months. During that time USO should drop to 56, OIH to 140 and XLE to 60.
GLD - February Gold: The short term trend is still upward. The market has rallied into the 910-20 zone which is very strong resistance.
SLV - March Silver: Support stands at 1500. I think the market will stall in the 1660-80 zone and then have a big break.
Google: I think a move to new bull market highs will begin soon.