March S&P E-mini Futures: The market dropped to 730 on the GDP news this morning. Support today is in the 725-30 range. I think that a rally to at least the 748 level will develop during the day. I still think this market is about to begin the biggest rally seen in the last 9 months.
QQQ: The 27.30 level is support and from there I think the Q’s will start a move to 35.00.
March Bonds: The bonds have dropped into the 126-27 target zone. The next big move in this market should be upward to 135. Any significant weakness below 125 will mean that a bear market is underway.
March 10 Year Notes: The notes have yet to reach our 120 target. We think a substantial rally to 128 is imminent, but weakness below 120 would mean that a bear market is underway.
Euro-US Dollar: The euro is headed down to 122.50.
Dollar-Yen: I think a rally to 100.00 is underway.
April Crude: The 30-35 zone is long term support. I think the market will start stabilizing. The next big move should be a rally to 50.
GLD – April Gold: Gold is now headed for 1100. Support is at 940.
SLV - March Silver: I now think silver is headed for 1750.
Google: Resistance stands at 375. I think that its drop from 747 is over.