Spiders - March S&P E-mini Futures: I want to be a buyer today in the March e-minis at 1391 again using a 25 point stop. The positive divergences I see in the advancing issues numbers are telling me that a big advance is about to start. The spiders have dropped below 139 and I think are about to start a rally to new bull market highs.
QQQQ: The Q’s are headed for the 46.00 level.
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 now longer think that 108.20 support will hold but I do think the market will stage a very big rally from the 106.00 level.
XLE - OIH - USO – February Crude: Crude should 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 hit 894 late yesterday afternoon and the short term trend is still upward. Support is at 860. I think the market has a good shot at the 910 level.
SLV - March Silver: Silver breeched the 1570 resistance level yesterday afternoon. Support stands at 1500. I think that the 1644 high in March silver will hold.
Google: GOOG nearly reached 630 support late yesterday. I think a move to new bull market highs will begin soon.