Spiders - March S&P E-mini Futures: I got stopped out at 1396 yesterday and today I will be a buyer at 1365 using a 25 point stop initially. I think this market is making a very important low and is about to rally to new bull market highs.
QQQQ: Support is at 45.30 and from there I think the market will embark on a rally to new bull market highs.
TLT - March Bonds: The market has reached the 120 level and will encounter very strong resistance in the 121-122 zone. Support stands at 117-16. TLT is headed for 98.50.
March 10 Year Notes: Market has reached resistance at 116-16 and while it may take a peek above 117-00 briefly I think the big move up is essentially over. Support is at 114-20.
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: The market closed below 92.00 yesterday so I conclude that crude is headed for 75.00 and eventually much lower than that. 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. Support stands at 865.
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. Support stands at 625.