Spiders - March S&P E-mini Futures: The worst I see for this reaction on the downside is the 830-40 zone. A move above 878 will mean that the market is headed for its next upside target at 945. I still think that that the 1000 level will be reached next month.
QQQ: The Q’s are headed for 34.
TLT - March Bonds: The market will probably make it to 145 before any substantial break begins.
March 10 Year Notes: The 128 resistance will probably be broken and the notes should reach 130 before the market turns lower.
Euro-US Dollar: The euro has found support near 138.00. I think we shall see a move up to 152.00 or so before the bear market resumes.
Dollar-Yen: I think the 87.50 level will hold and that a rally to 100.00 is imminent.
XLE - OIH - USO – February Crude: Crude has dropped below 40.00 and this means it will probably continue down to the 32-34 zone.
GLD - February Gold: The 885 level should prove to be resistance and the market should soon resume its move down into the 550-600 range.
SLV - March Silver: I still think this is a bear market. Next resistance above the market is at 1165. Next downside target is 650.
Google: Google has reached the 250-60 target zone which should be the end of its drop from 747.