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  • The Nasdaq Joins Dow Transports Above Their 200-Day SMAs

    Despite continued strong gains the five major averages have negative weekly charts with weekly closes below five-week modified moving averages at 16819 Dow Industrials, 1950.3 S&P 500, 4421 Nasdaq, 8305 Dow Transports and 1114.89 Russell 2000.

    On daily charts, the Nasdaq joins Dow Transports above their 200-day simple moving averages at 4303 and 7899 with the other major averages below their 200-day SMAs at 16586 Dow Industrials, 1906.4 S&P 500 and 1147.05 Russell 2000.

    At Wednesday's lows the major averages either in correction mode or close to it for all five major averages, Dow Industrials down 8.6%, S&P 500 down 9.8%, Nasdaq down 10.7%, Dow Transports down 11.6% and Russell 2000 down 14.3%.

    The all-time or multiyear intraday highs are 17350.84 (Sept. 19) Dow Industrials, 2019.26 (Sept. 19) S&P 500, 4610.57 (Sept 19) Nasdaq, 8714.94 (Sept. 19) Dow Transports, and 1213.55 (July 1) Russell 2000).

    This week's risky levels are 16761 Dow Industrials, 1931.0 S&P 500, 4371 Nasdaq and 8315 Dow Transports, with a weekly pivot at 1082.78 on the Russell 2000.

    Monthly and quarterly risky levels are 17779 and 18045 Dow Industrials, 2079.2 and 2094.6 S&P 500, 4609 and 4713 Nasdaq, 8790 and 9418 Dow Transports and 1159.82 and 1292.59 on Russell 2000.

    Semiannual and annual value levels will remain at 14835 and 13437 Dow Industrials, 1789.3, 1539.1 and 1442.1 S&P 500, 3972, 3471 and 3063 Nasdaq, 7423, 6249 and 5935 Dow Transports and 966.72 and 879.39 Russell 2000 with a semiannual pivot at 16301 Dow Industrials.

    Semiannual risky levels remain at 18522 Dow Industrials, 2080.3 S&P 500, 4642 Nasdaq and 1285.37 on the Russell 2000. Semiannual pivots remain at 8447 Dow Transports and 1139.81 Russell 2000.

    Dow Industrials: (16399) Daily and annual value levels are 15734, 14835 and 13467 with a semiannual pivot at 16301, a weekly risky level at 16761, the Sept. 19 all-time intraday high at 17350.64 and monthly, quarterly and semiannual risky levels at 17779, 18045 and 18552.

    S&P 500 - (1904.0) Daily, semiannual and annual value levels are 1810.4, 1789.3, 1539.1 and 1442.1 with a weekly risky level at 1931.0, the Sept. 19 all-time intraday high at 2019.26, and monthly, quarterly and semiannual risky levels at 2079.2, 2094.2 and 2080.3.

    NASDAQ - (4316) Daily, semiannual and annual value levels are 4069, 3972, 3471 and 3063 with weekly and monthly risky levels at 4371 and 4609, the Sept. 19 multiyear intraday high at 4610.57 and semiannual and quarterly risky levels at 4691 and 4713.

    NASDAQ 100 (NDX) - (3870) Daily, semiannual and annual value levels are 3640, 3515, 3078 and 2669 with weekly and semiannual risky levels at 3931, 4060 and 4105, the Sept. 19 multiyear intraday high at 4118.91, and monthly risky level at 4152.

    Dow Transports - (8228) Daily, semiannual and annual value levels are 7780, 7423, 6249 and 5935 with weekly and semiannual risky levels at 8315 and 8447, the Sept. 19 all-time intraday high at 8714.94, and monthly and quarterly risky levels at 8790 and 9418.

    Russell 2000 - (1094.97) Daily and annual value levels are 1050.22, 966.72 and 879.39 with a weekly pivot at 1082.78, semiannual and monthly risky levels at 1139.81 and 1159.82, the July 1 all-time intraday high at 1213.55 and semiannual and quarterly risky levels at 1285.37 and 1292.59.

    The SOX - (584.15) Daily, semiannual and annual value levels are 524.52, 512.94, 371.58 and 337.74 with weekly and semiannual risky levels at 596.82 and 608.03, the Sept. 19 multiyear intraday high 659.64, and quarterly and monthly risky levels at 687.65 and 691.22.

    Dow Utilities: (570.63) Daily, quarterly, annual, semiannual and annual value levels are 559.18, 553.35, 548.70, 523.72 and 497.53 with a weekly pivot at 562.37, the June 30 all-time intraday high at 576.98, and monthly and semiannual risky levels at 589.67 and 612.49.

    10-Year Note - (2.183) Annual, monthly, weekly and quarterly value levels are 2.263, 2.448, 2.414 and 3.258 with daily, semiannual and annual risky levels at 2.094, 1.999 and 1.779.

    30-Year Bond - (2.959) Semiannual, monthly, annual, weekly, and quarterly value levels are 3.082, 3.089,3, 3.202, 3.283, 3.128 and 3.963 with daily and semiannual risky levels at 2.911 and 2.487.

    Comex Gold - ($1246.5) Weekly and quarterly value levels are $1188.5 and $906.43 with daily, monthly, semiannual and annual risky levels at $1248.3, $1305.2, $1613.0, $1738.7 and $1747.4.

    Nymex Crude Oil - ($82.02) A daily value level is $78.82 with a weekly pivot at $86.15 and monthly, quarterly, semiannual, annual and quarterly risky levels at $100.07, $102.66, $106.48 and $107.52.

    The Euro - (1.2804) Weekly and semiannual value levels are 1.2361 and 1.2203 with a daily pivot at 1.2742 and monthly, annual and quarterly risky levels at 1.3309, 1.3382 and 1.3603.

    The Dollar versus Japanese Yen - (106.85) Daily and annual value levels are 105.75 and 93.38 with a monthly pivot at 105.94 and weekly and quarterly risky levels at 110.71 and 123.64.

    The British Pound - (1.6170) Daily and weekly value levels are 1.5974 and 1.5856 with quarterly and annual pivots at 1.6210 and 1.6262 and monthly and semiannual risky levels at 1.6907 and 1.7302.

    To learn more about ValuEngine check out www.ValuEngine.com. Any comments or questions contact me at RSuttmeier@gmail.com.

    Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Oct 20 8:45 PM | Link | Comment!
  • The Weekly Charts Remain Negative For The Five Major Equity Averages.

    Despite strong gains on Friday the five major averages have negative weekly charts with weekly closes below five-week modified moving averages at 16819 Dow Industrials, 1950.3 S&P 500, 4421 Nasdaq, 8305 Dow Transports and 1114.89 Russell 2000.

    On daily charts, Dow Transports is above its 200-day simple moving average at 7895 with the other major averages are below their 200-day SMAs at 16586 Dow Industrials, 1906.0 S&P 500, 4302 Nasdaq and 1147.43 Russell 2000.

    At Wednesday's lows the major averages either in correction mode or close to it for all five major averages, Dow Industrials down 8.6%, S&P 500 down 9.8%, Nasdaq down 10.7%, Dow Transports down 11.6% and Russell 2000 down 14.3%.

    The all-time or multiyear intraday highs are 17350.84 (Sept. 19) Dow Industrials, 2019.26 (Sept. 19) S&P 500, 4610.57 (Sept 19) Nasdaq, 8714.94 (Sept. 19) Dow Transports, and 1213.55 (July 1) Russell 2000).

    This week's risky levels are 16761 Dow Industrials, 1931.0 S&P 500, 4371 Nasdaq and 8315 Dow Transports, with a weekly pivot at 1082.78 on the Russell 2000.

    Monthly and quarterly risky levels are 17779 and 18045 Dow Industrials, 2079.2 and 2094.6 S&P 500, 4609 and 4713 Nasdaq, 8790 and 9418 Dow Transports and 1159.82 and 1292.59 on Russell 2000.

    Semiannual and annual value levels will remain at 14835 and 13437 Dow Industrials, 1789.3, 1539.1 and 1442.1 S&P 500, 3972, 3471 and 3063 Nasdaq, 7423, 6249 and 5935 Dow Transports and 966.72 and 879.39 Russell 2000 with a semiannual pivot at 16301 Dow Industrials.

    Semiannual risky levels remain at 18522 Dow Industrials, 2080.3 S&P 500, 4642 Nasdaq and 1285.37 on the Russell 2000. Semiannual pivots remain at 8447 Dow Transports and 1139.81 Russell 2000.

    Dow Industrials: (16380) Daily and annual value levels are 16137, 14835 and 13467 with a semiannual pivot at 16301, a weekly risky level at 16761, the Sept. 19 all-time intraday high at 17350.64 and monthly, quarterly and semiannual risky levels at 17779, 18045 and 18552.

    S&P 500 - (1886.8) Daily, semiannual and annual value levels are 1854.8, 1789.3, 1539.1 and 1442.1 with a weekly risky level at 1931.0, the Sept. 19 all-time intraday high at 2019.26, and monthly, quarterly and semiannual risky levels at 2079.2, 2094.2 and 2080.3.

    NASDAQ - (4258) Daily, semiannual and annual value levels are 4173, 3972, 3471 and 3063 with weekly and monthly risky levels at 4371 and 4609, the Sept. 19 multiyear intraday high at 4610.57 and semiannual and quarterly risky levels at 4691 and 4713.

    NASDAQ 100 (NDX) - (3815) Daily, semiannual and annual value levels are 3749, 3515, 3078 and 2669 with quarterly, weekly and semiannual risky levels at 3861, 3931, 4060 and 4105, the Sept. 19 multiyear intraday high at 4118.91, and monthly risky level at 4152.

    Dow Transports - (8148) Daily, semiannual and annual value levels are 7846, 7423, 6249 and 5935 with weekly and semiannual risky levels at 8315 and 8447, the Sept. 19 all-time intraday high at 8714.94, and monthly and quarterly risky levels at 8790 and 9418.

    Russell 2000 - (1082.33) Daily and annual value levels are 1068.70, 966.72 and 879.39 with a weekly pivot at 1082.78, semiannual and monthly risky levels at 1139.81 and 1159.82, the July 1 all-time intraday high at 1213.55 and semiannual and quarterly risky levels at 1285.37 and 1292.59.

    The SOX - (575.33) Daily, semiannual and annual value levels are 544.29, 512.94, 371.58 and 337.74 with weekly and semiannual risky levels at 596.82 and 608.03, the Sept. 19 multiyear intraday high 659.64, and quarterly and monthly risky levels at 687.65 and 691.22.

    Dow Utilities: (562.56) Quarterly, annual, semiannual and annual value levels are 553.35, 548.70, 523.72 and 497.53 with a weekly pivot at 562.37, a daily risky level at 569.33, the June 30 all-time intraday high at 576.98, and monthly and semiannual risky levels at 589.67 and 612.49.

    10-Year Note - (2.204) Annual, monthly, weekly and quarterly value levels are 2.263, 2.448, 2.414 and 3.258 with daily, semiannual and annual risky levels at 2.065, 1.999 and 1.779.

    30-Year Bond - (2.979) Semiannual, monthly, annual, weekly, and quarterly value levels are 3.082, 3.089,3, 3.202, 3.283, 3.128 and 3.963 with daily and semiannual risky levels at 2.866 and 2.487.

    Comex Gold - ($1238.2) Weekly and quarterly value levels are $1188.5 and $906.43 with daily, monthly, semiannual and annual risky levels at $1255.1, $1305.2, $1613.0, $1738.7 and $1747.4.

    Nymex Crude Oil - ($83.05) A daily value level is $79.14 with a weekly pivot at $86.15 and monthly, quarterly, semiannual, annual and quarterly risky levels at $100.07, $102.66, $106.48 and $107.52.

    The Euro - (1.2759) Weekly and semiannual value levels are 1.2361 and 1.2203 with a daily pivot at 1.2790 and monthly, annual and quarterly risky levels at 1.3309, 1.3382 and 1.3603.

    The Dollar versus Japanese Yen - (106.88) Daily and annual value levels are 106.15 and 93.38 with a monthly pivot at 105.94 and weekly and quarterly risky levels at 110.71 and 123.64.

    The British Pound - (1.6090) A weekly value level is 1.5856 with daily, quarterly and annual pivots at 1.6040, 1.6210 and 1.6262 and monthly and semiannual risky levels at 1.6907 and 1.7302.

    To learn more about ValuEngine check out www.ValuEngine.com. Any comments or questions contact me at RSuttmeier@gmail.com.

    Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Oct 18 9:25 AM | Link | Comment!
  • It's Highly Likely That Today’S Closes Will Keep All Weekly Charts Negative.

    Last week ended with the Sept. 19 all-time or multiyear highs confirmed as cycle highs for the five major averages Today's closes will likely keep the weekly charts negative.

    All five major equity averages are below their five-week modified moving averages at 16928 Dow Industrials, 1966.0 on S&P 500, 4461 Nasdaq, 8344 Dow Transports and 1122.73 Russell 2000 with declining 12x3x3 weekly slow stochastics. This is a full-fledged sell signal.

    The Dow 30, S&P 500, Nasdaq and Russell 2000 are below their 200-day simple moving averages at; 16586, 1905.7, 4301 and 1147.71. Dow Transports is above its 200-day simple moving average at 7890 for the third day in a row.

    The all-time or multiyear intraday highs are 17350.84 (Sept. 19) Dow Industrials, 2019.26 (Sept. 19) S&P 500, 4610.57 (Sept 19) Nasdaq, 8714.94 (Sept. 19) Dow Transports, and 1213.55 (July 1) Russell 2000).

    Monthly and quarterly risky levels are 17779 and 18045 Dow Industrials, 2079.2 and 2094.6 S&P 500, 4609 and 4713 Nasdaq, 8790 and 9418 Dow Transports and 1159.82 and 1292.59 on Russell 2000.

    Semiannual pivots and annual value levels are at 16301, 14835 and 13437 Dow Industrials, 1789.3, 1539.1 and 1442.1 S&P 500, 3972, 3471 and 3063 Nasdaq, 7423, 6249 and 5935 Dow Transports and 966.72 and 879.39 Russell 2000.

    Semiannual risky levels remain at 18522 Dow Industrials, 2080.3 S&P 500, 4642 Nasdaq and 1285.37 on the Russell 2000. Semiannual pivots remain at 8447 Dow Transports and 1139.81 Russell 2000.

    Dow Industrials: (16117) Daily and annual value levels are 15881, 14835 and 13467 with semiannual weekly risky levels at 16301 and 17274, the Sept. 19 all-time intraday high at 17350.64 and monthly, quarterly and semiannual risky levels at 17779, 18045 and 18552.

    S&P 500 - (1862.8) Daily, semiannual and annual value levels are 1830.4, 1789.3, 1539.1 and 1442.1 with a weekly risky level at 1991.3, the Sept. 19 all-time intraday high at 2019.26, and monthly, quarterly and semiannual risky levels at 2079.2, 2094.2 and 2080.3.

    NASDAQ - (4217) Daily, semiannual and annual value levels are 4123, 3972, 3471 and 3063 with weekly and monthly risky levels at 4510 and 4609, the Sept. 19 multiyear intraday high at 4610.57 and semiannual and quarterly risky levels at 4691 and 4713.

    NASDAQ 100 (NDX) - (3765) Daily, semiannual and annual value levels are 3711, 3515, 3078 and 2669 with quarterly, weekly and semiannual risky levels at 3861, 4033, 4060 and 4105, the Sept. 19 multiyear intraday high at 4118.91, and monthly risky level at 4152.

    Dow Transports - (8026) Daily, semiannual and annual value levels are 7616, 7423, 6249 and 5935 with semiannual and weekly risky levels at 8447 and 8487, the Sept. 19 all-time intraday high at 8714.94, and monthly and quarterly risky levels at 8790 and 9418.

    Russell 2000 - (1086.11) Daily and annual value levels are 1049.86, 966.72 and 879.39 with weekly, semiannual and monthly risky levels at 1112.36, 1139.81 and 1159.82, the July 1 all-time intraday high at 1213.55 and semiannual and quarterly risky levels at 1285.37 and 1292.59.

    The SOX - (570.73) Daily, semiannual and annual value levels are 538.36, 512.94, 371.58 and 337.74 with semiannual and weekly risky levels at 608.03 and 623.16, the Sept. 19 multiyear intraday high 659.64, and quarterly and monthly risky levels at 687.65 and 691.22.

    Dow Utilities: (558.94) Quarterly, annual, semiannual and annual value levels are 553.35, 548.70, 523.72 and 497.53 with daily and weekly pivots levels at 565.72 and 566.99, the June 30 all-time intraday high at 576.98, and monthly and semiannual risky levels at 589.67 and 612.49.

    10-Year Note - (2.153) Annual, monthly, weekly and quarterly value levels are 2.263, 2.448, 2.537 and 3.258 with daily, semiannual and annual risky levels at 2.088, 1.999 and 1.779.

    30-Year Bond - (2.937) Semiannual, monthly, annual, weekly, and quarterly value levels are 3.082, 3.089,3, 3.202, 3.283 and 3.963 with daily and semiannual risky levels at 2.887 and 2.487.

    Comex Gold - ($1238.9) Weekly and quarterly value levels are $1162.8 and $906.43 with daily, monthly, semiannual and annual risky levels at $1251.2, $1305.2, $1613.0, $1738.7 and $1747.4.

    Nymex Crude Oil - ($82.73) A daily value level is $78.58 with a weekly pivot at $85.62 and monthly, quarterly, semiannual, annual and quarterly risky levels at $100.07, $102.66, $106.48 and $107.52.

    The Euro - (1.2808) Weekly and semiannual value levels are 1.2279 and 1.2203 with a daily pivot at 1.2796 and monthly, annual and quarterly risky levels at 1.3309, 1.3382 and 1.3603.

    The Dollar versus Japanese Yen - (106.34) Daily and annual value levels are 105.53 and 93.38 with a monthly pivot at 105.94 and weekly and quarterly risky levels at 111.84 and 123.64.

    The British Pound - (1.6090) A weekly value level is 1.5836 with daily, quarterly and annual pivots at 1.6055, 1.6210 and 1.6262 and monthly and semiannual risky levels at 1.6907 and 1.7302.

    To learn more about ValuEngine check out www.ValuEngine.com. Any comments or questions contact me at RSuttmeier@gmail.com.

    Oct 16 7:04 PM | Link | Comment!
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