#1 FREE Swing Trading Strategy and Stock Picks for Day Traders

Spiders - March S&P  E-mini Futures:  As I write this the e-minis are trading at 918. High volume selling below the 920 level after pit trading starts at 9:30 am ET will mean that the market is headed for 875. Until I see such selling my bias remains on the long side today. I still think that that the 1000 level will be reached this month. 

QQQ: The Q’s are headed for 34.

TLT - March Bonds: The short term trend has turned downward and 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 broke below support and will probably drop to 132 before a substantial rally can start.

Dollar-Yen: I think the 87.50 level will hold and that a rally to 100.00 is underway. 

XLE - OIH - USO – February Crude: It now looks like the $20 rally is already underway. Crude will probably continue upward to 55.00 but I expect a drop to 30-35 to follow.

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.  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.