March S&P E-mini Futures: Downside target remains the 760-70 zone. I am looking for today’s low in the 785-90 range. Any high volume strength above 825 will mean that the market is headed above 900 again. I still think that the market will reach the 1000 level over the next two months.
QQQ: Support below the market is at 26.50. Strength above 30.00 will mean that the Q’s are headed for 34.00.
March Bonds: The short term trend should carry the bonds to 130.
March 10 Year Notes: The short term trend has turned downward and should carry the notes to 120. .
Euro-US Dollar: The euro will probably continue down to 127.
Dollar-Yen: I think the 87.50 level will hold and that a rally to 100.00 is underway.
March Crude: I think March crude will also drop down into the 30-35 zone as compared with its current price of 40.40. After than a rally to the 50.00 level should develop.
GLD - February Gold: The 885 level is still resistance and the market should resume its move down into the 550-600 range.
SLV - March Silver: I still think this is a bear market. 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.