Spiders - March S&P E-mini Futures: The e-minis missed closing above the 1295 level by a point so for the moment I think there is a 50-50 chance that the market will drop to 1270 before beginning a move into the 1430-50 range. I still think that new bull market highs will be seen in the next few months.
QQQ: The 42.00 level is support and from there the Q’s will rally to 47.50.
TLT - June Bonds: I think the bonds are headed down to 112. I think TLT will drop to 88.
June 10 Year Notes: Resistance is at 118-04. I think the notes will soon begin a move to 112.
Euro-US Dollar: The market should soon reach 156. Meantime support is at 149.50.
Dollar-Yen: It now looks like the yen is headed for the 99.50 level.
XLE - OIH - USO – April Crude: The market has reached 106 and I think a break of at least $20 will be the next development.
GLD - April Gold: I think gold futures are headed for 1000. Support is at the 920 level in the April contract.
SLV - May Silver: It looks like the silver will make it to 2200 and then begin a big break.
Google: I think the drop from the 747 high is nearly over. There is very strong support at 420 and my guess is that Google will make an important low near there and then begin a sustained up move. Meantime resistance is at 490.