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  • All Five Major Averages Ended Last Week With Negative Weekly Charts.

    Last week ended with the September 19 all-time or multiyear highs confirmed as cycle highs for the five major averages. In addition on Friday, Dow Industrials, Nasdaq and Dow Transports joined the Russell 2000 below their 200-day simple moving averages.

    The S&P 500 closed just a point above its 200-day SMA at 1905.2 with Dow Transports above its 200-day SMA at 7880. The other 200-day simple moving averages are 16593 Dow Industrials, 4300 Nasdaq and 1149.64 Russell 2000.

    A huge economic warning occurred on Friday when the PHLX Semiconductor index (SOX) gapped below its 200-day SMA at 594.28. This is a significant stock market warning as this index has been above its 200-day SMA since Dec. 31, 2012 when the average was 387.42.

    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.

    From their highs the Russell 2000 and PHLX Semiconductor Index (SOX) ended the week in correction territory down13.2% and 14.9%, respectively.

    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 17274 Dow Industrials, 1991.3 S&P 500, 4510 Nasdaq, 8487 Dow Transports and 1112.36 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 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: (16544) Semiannual and annual value levels are 16,636, 16310, 14835 and 13467 with a weekly risky level at 17,274, 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 - (1906.1) Semiannual and annual value levels are 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 - (4276) Semiannual and annual value levels are 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) - (3871) Semiannual and annual value levels are 3515, 3078 and 2669 with quarterly, weekly and semiannual risky levels at 4033, 4060 and 4105, the Sept. 19 multiyear intraday high at 4118.91, and monthly risky level at 4152.

    Dow Transports - (7893) Semiannual and annual value levels are 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 - (1053.32) Annual value levels are 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 - (561.40) Semiannual and annual value levels are 512.94, 371.58 and 337.74 with semiannual and weekly risky levels at 608.02 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: (561.67) Semiannual and annual value levels are 523.72 and 497.53 with annual and quarterly pivots at 548.70 and 553.35, a weekly risky level at 666.99, 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 - (2.291) Weekly and quarterly value levels are 2.537 and 3.258 with a monthly pivot at 2.448, and annual and semiannual risky levels at 2.263, 1.999 and 1.779.

    30-Year Bond - (3.020) Weekly, annual and quarterly value levels are 3.202, 3.283 and 3.963 with monthly, semiannual and annual pivots at 3.089, 3.082 and 3.107 and daily risky level at 2.951.

    Comex Gold - ($1224.0) Weekly and quarterly value levels are $1162.8 and $906.43 with monthly, semiannual and annual risky levels at $1305.2, $1613.0, $1738.7 and $1747.4.

    Nymex Crude Oil - ($85.55) Daily and weekly pivot are$85.32 and $85.62 with monthly, quarterly, semiannual, annual and quarterly risky levels at $100.07, $102.66, $106.48 and $107.52.

    The Euro - (1.2613) Weekly and semiannual value levels are 1.2279 and 1.2203 with monthly, annual and quarterly risky levels at 1.3309, 1.3382 and 1.3603.

    The Dollar versus Japanese Yen - (107.72) Monthly and annual value levels are 105.94 and 93.38 with weekly and quarterly risky levels at 111.84 and 123.64.

    The British Pound - (1.6059) Daily and weekly value levels are 1.5981 and 1.5836 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 11 9:49 AM | Link | 3 Comments
  • Today's Closes Are Highly Likely To Confirm A Significant Market Correction.

    All major averages are significantly below their five-week modified moving averages at 17,022 Dow Industrials, 1980.6 S&P 500, 4507 Nasdaq, 8456 Dow Transports and 1139.83 Russell 2000. This configuration will likely hold at today's closes confirming the first market correction since 2011.

    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 and annual value levels will remain 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: (16659) Daily, semiannual and annual value levels are 16,636, 16310, 14835 and 13467 with the Sept. 19 all-time intraday high at 17350.64 and weekly, monthly, quarterly and semiannual risky levels at 17512, 17779, 18045 and 18552.

    S&P 500 - (1928.2) Daily, semiannual and annual value levels are 1923.9, 1789.3, 1539.1 and 1442.1 with the Sept. 19 all-time intraday high at 2019.26, and weekly, monthly, quarterly and semiannual risky levels at 2039.3, 2079.2, 2094.2 and 2080.3.

    NASDAQ - (4378) Daily, semiannual and annual value levels are 4358, 3972, 3471 and 3063 with the Sept. 19 multiyear intraday high at 4610.57 and monthly, semiannual, weekly and quarterly risky levels at 4609, 4642, 4691 and 4713.

    NASDAQ 100 (NDX) - (3969) Daily, quarterly, semiannual and annual value levels are 3953, 3515, 3078 and 2669 with quarterly and semiannual risky levels at 4033 and 4105, the Sept. 19 multiyear intraday high at 4118.91, and monthly and weekly risky levels at 4152 and 4220.

    Dow Transports - (8054) Daily, semiannual and annual value levels are 8035, 7423, 6249 and 5935 with a semiannual pivot at 8447, the Sept. 19 all-time intraday high at 8714.94, and weekly, monthly and quarterly risky levels at 8872, 8790 and 9418.

    Russell 2000 - (1067.99) Daily and Annual value levels are 1058.16, 966.72 and 879.39 with semiannual, monthly and semiannual risky levels at 1139.81, 1159.82 and 1179.36, the July 1 all-time intraday high at 1213.55 and semiannual and quarterly risky levels at 1285.37 and 1292.59.

    The SOX - (602.97) Daily, semiannual and annual value levels are 590.15, 512.94, 371.58 and 337.74 with a semiannual pivot at 608.02, the Sept. 19 multiyear intraday high 659.64, and weekly, quarterly and monthly risky levels at 669.29, 687.65 and 691.22.

    Dow Utilities: (558.07) Semiannual and annual value levels are 523.72 and 497.53 with daily, weekly, annual and quarterly pivots at 561.62, 568.88, 548.70 and 553.35, 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 - (2.328) Weekly and quarterly value levels are 2.500 and 3.258 with a monthly pivot at 2.448, and daily, annual and semiannual risky levels at 2.294, 2.263, 1.999 and 1.779.

    30-Year Bond - (3.066) Annual and quarterly value levels are 3.283 and 3.963 with weekly, monthly, semiannual and annual pivots at 3.149, 3.089, 3.082 and 3.107 and daily risky level at 3.036.

    Comex Gold - ($1223.4) Daily, weekly and quarterly value levels are $1209.7, 1176.22 and $906.43 with monthly, semiannual and annual risky levels at $1305.2, $1613.0, $1738.7 and $1747.4.

    Nymex Crude Oil - ($85.25) A daily value level is $83.48 with a weekly pivot at $88.57 and monthly, quarterly, semiannual, annual and quarterly risky levels at $100.07, $102.66, $106.48 and $107.52.

    The Euro - (1.2687) Daily, weekly and semiannual value levels are 1.2611, 1.2417 and 1.2203 with monthly, annual and quarterly risky levels at 1.3309, 1.3382 and 1.3603.

    The Dollar versus Japanese Yen - (107.88) Monthly and annual value levels are 105.94 and 93.38 with a daily pivot at 107.79, and weekly and quarterly risky levels at 111.40 and 123.64.

    The British Pound - (1.6121) Daily and weekly value levels are 1.6000 and 1.5873 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 09 6:17 PM | Link | Comment!
  • Wednesday's Fed-Induced Rebound Could Put Correction On Hold.

    All major averages are below their five-week modified moving averages at 17,022 Dow Industrials, 1980.6 S&P 500, 4507 Nasdaq, 8456 Dow Transports and 1139.83 Russell 2000. If this configuration occurs at Friday's closes all five major averages will have negative weekly charts. The Dow Industrial Average is closest to its five-week modified moving average.

    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 17513 Dow Industrials, 2039.3 S&P 500, 4691 Nasdaq, 8872 Dow Transports and 1153.72 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 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: (16994) Daily, semiannual and annual value levels are 16,760, 16310, 14835 and 13467 with the Sept. 19 all-time intraday high at 17350.64 and weekly, monthly, quarterly and semiannual risky levels at 17512, 17779, 18045 and 18552.

    S&P 500 - (1968.1) Daily, semiannual and annual value levels are 1938.9, 1789.3, 1539.1 and 1442.1 with the Sept. 19 all-time intraday high at 2019.26, and weekly, monthly, quarterly and semiannual risky levels at 2039.3, 2079.2, 2094.2 and 2080.3.

    NASDAQ - (4469) Daily, semiannual and annual value levels are 4400, 3972, 3471 and 3063 with the Sept. 19 multiyear intraday high at 4610.57 and monthly, semiannual, weekly and quarterly risky levels at 4609, 4642, 4691 and 4713.

    NASDAQ 100 (NDX) - (4041) Daily, quarterly, semiannual and annual value levels are 3982, 3515, 3078 and 2669 with a quarterly pivot at 4043, a semiannual risky level at 4105, the Sept. 19 multiyear intraday high at 4118.91, and monthly and weekly risky levels at 4152 and 4220.

    Dow Transports - (8253) Daily, semiannual and annual value levels are 8191, 7423, 6249 and 5935 with a semiannual pivot at 8447, the Sept. 19 all-time intraday high at 8714.94, and weekly, monthly and quarterly risky levels at 8872, 8790 and 9418.

    Russell 2000 - (1097.12) Daily and Annual value levels are 1074.29,1077.24, 966.72 and 879.39 with semiannual, monthly and semiannual risky levels at 1139.81, 1159.82 and 1179.36, the July 1 all-time intraday high at 1213.55 and semiannual and quarterly risky levels at 1285.37 and 1292.59.

    The SOX - (619.97) Daily, semiannual and annual value levels are 603.98, 512.94, 371.58 and 337.74 with a semiannual pivot at 608.02, the Sept. 19 multiyear intraday high 659.64, and weekly, quarterly and monthly risky levels at 669.29, 687.65 and 691.22.

    Dow Utilities: (567.09) Semiannual and annual value levels are 523.72 and 497.53 with daily, weekly, annual and quarterly pivots at 564.85, 568.88, 548.70 and 553.35, 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 - (2.325) Weekly and quarterly value levels are 2.500 and 3.258 with a monthly pivot at 2.448, and daily, annual and semiannual risky levels at 2.286, 2.263, 1.999 and 1.779.

    30-Year Bond - (3.064) Annual and quarterly value levels are 3.283 and 3.963 with weekly, monthly, semiannual and annual pivots at 3.149, 3.089, 3.082 and 3.107 and daily risky level at 3.021.

    Comex Gold - ($1223.6) Daily, weekly and quarterly value levels are $1207.0, 1176.22 and $906.43 with monthly, semiannual and annual risky levels at $1305.2, $1613.0, $1738.7 and $1747.4.

    Nymex Crude Oil - ($87.66) Daily and weekly pivots are $87.13 and $88.57 with monthly, quarterly, semiannual, annual and quarterly risky levels at $100.07, $102.66, $106.48 and $107.52.

    The Euro - (1.2737) Daily, weekly and semiannual value levels are 1.2629, 1.2417 and 1.2203 with monthly, annual and quarterly risky levels at 1.3309, 1.3382 and 1.3603.

    The Dollar versus Japanese Yen - (108.13) Monthly and annual value levels are 105.94 and 93.38 with a daily pivot at 108.36, and weekly and quarterly risky levels at 111.40 and 123.64.

    The British Pound - (1.6173) Daily and weekly value levels are 1.6036 and 1.5873 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 08 7:03 PM | Link | Comment!
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