Spiders - March S&P E-mini Futures: I will be a buyer of the e-minis at 1537 or lower after regular hours trading begins at 9:30
QQQQ: The Q’s are headed for 54.20 and eventually to the 60 level. Support stands at 49.75
TLT - March Bonds: Resistance above the market is at 118-28. I think that the 119-12 high will hold and that the market will drop to 110 or a bit lower over the coming months. TLT is headed for 87.
March 10 Year Notes: Resistance above the market is at 115-08. I think the notes will soon start a drop of at least 5 points.
Euro-US Dollar: I think the euro is establishing a long-lasting top. Resistance above the market is at 148.20.
Dollar-Yen: The yen has dropped further than I expected but I suspect this morning’s low at 108.20 or so will hold and that the market will begin a move to 117.00 and higher.
XLE - OIH - USO – February Crude: Crude closed over the 97.70 level yesterday so it should soon hit 101.50 before an extended drop starts. I think the market will drop to 75 and lower during the coming months. USO should drop to 56, OIH to 140 and XLE to 60.
GLD - February Gold: The futures nearly reached 873 yesterday and I think the market will take a peek above that level before starting an extended drop.
SLV - March Silver: I think that the 1644 high in March silver will hold and that an extended decline has begun. The current rally should halt at a lower top near the 1570 level.
Google: GOOG is headed for 760.Support is at 675.