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  • We Now Have Monthly Risky Levels Below The July Highs, A Sign Of A Top.

    The Dow industrials, S&P 500 and Dow Transports crashed below their 50-day simple moving averages on Thursday with the Russell 2000 below its 200-day. The Nasdaq is above its 50-day SMA.

    The weekly charts for Dow Industrials, S&P 500, Nasdaq and Dow Transports shift to neutral with closes today below their five-week modified moving averages at 16893, 1955.9, 4374 and 8214, respectively. The weekly slow stochastics will not be declining until next week. The weekly chart for the Russell 2000 remains negative with its five-week MMA at 1160.18.

    The Dow Utility Average has declining 12x3x3 weekly slow stochastics so its weekly chart shifts to negative this week with a close on Friday below its five-week MMA at 554.91.

    The PHLX Semiconductor Index (SOX) is below its five-week MMA at 624.94 but it still has an overbought 12x3x3 weekly slow stochastic.

    The Housing Sector Index (HGX) ended last week with a negative weekly chart below its five-week MMA with declining stochastic. It remains below its 61.8% Fibonacci retracement of its decline from mid-2005 high to the March 2009 low.

    The ABA Community Bank Index (ABAQ) also has also has a negative weekly chart and below its 61.8% retracement from its high in December 2006 to the March 2009 low.

    New monthly risky levels are 16871 Dow Industrials, 1970.2 S&P 500, 4450 Nasdaq, 8292 Dow Transports and 1156.01 Russell 2000, which is a sign of confirming tops as these are below the highs set in July..

    Semiannual and annual value levels remain at 16301, 14835 and 13437 Dow Industrials, 1789.3, 1539.1 and 1442.1 S&P 500, 3972, 3471, 3063 Nasdaq, 7423, 6249 and 5935 Dow Transports and 1139.81, 966.72 and 879.39 Russell 2000.

    Quarterly and semiannual risky levels are 17753 and 18522 Dow Industrials, 2052.3 and 2080.3 S&P 500, 4569 and 4642 Nasdaq, and 1293.11 and 1285.37 on Russell 2000. Dow Transports ended July below quarterly and semiannual pivots at 8256 and 8447.

    Dow Industrials: (16563) Semiannual and annual value levels are 16301, 14835 and 13467 with daily and monthly risky levels at 16759 and 16871, the July 17 all-time intraday high at 17151.56, and weekly, monthly, quarterly and semiannual risky levels at 17179, 17364, 17753 and 18552.

    S&P 500 - (1930.7) Semiannual and annual value levels are 1789.3, 1539.1 and 1442.1 with daily and monthly risky levels at 1963.5 and 1970.2, the July 24 all-time intraday high at 1991.39, and weekly, quarterly and semiannual risky levels at 2009.2, 2052.3 and 2080.3.

    NASDAQ - (4370) Semiannual and annual value levels are 3972, 3471 and 3063 with daily and monthly risky levels at 4451 and 4450, the July 3 multiyear intraday high at 4485.93 and weekly, quarterly and semiannual risky levels at 4564, 4569 and 4642.

    NASDAQ 100 (NDX) - (3893) Semiannual and annual value levels are 3515, 3078 and 2669 with quarterly and monthly pivots at 3894 and 3925, a daily risky level at 3973, the July 24 multiyear intraday high at 3997.50, and weekly and semiannual risky levels at 4022 and 4105.

    Dow Transports - (8142) Semiannual and annual value levels are 6249 and 5935 with a quarterly pivot at 8256, daily and monthly risky levels at 8290 and 8292, weekly and semiannual risky levels at 8434 and 8447 and the July 23 all-time intraday high at 8515.04.

    Russell 2000 - (1120.07) Annual value levels are 966.72 and 879.39 with semiannual and daily pivots 1139.81 and 1138.48, a monthly risky level at 1156.01, the July 1 all-time intraday high at 1213.55, and weekly, semiannual and quarterly risky levels at 1202.15, 1285.37 and 1293.11.

    The SOX - (607.55) Daily, semiannual and Annual value levels are 598.47, 512.94, 371.58 and 337.74 with semiannual and quarterly pivots at 608.02 and 626.96, the July 16 multiyear intraday high 652.28 and monthly and weekly risky levels at 654.50 and 662.77.

    Dow Utilities: (539.30) Quarterly, semiannual and annual value levels are 536.44, 523.72 and 497.53, with an annual pivot at 548.70, with daily, weekly and monthly risky levels at 554.69, 569.81 and 579.73 and the June 30 all-time intraday high at 576.98 and semiannual risky level at 612.49.

    10-Year Note - (2.565) Weekly and quarterly value levels are 2.620 and 3.048 with daily and monthly pivots at 2.538 and 2.545 and annual and semiannual risky levels at 2.263, 1.999 and 1.779.

    30-Year Bond - (3.323) Weekly and quarterly value levels are 3.396 and 3.971 with daily and annual pivots at 3.292 and 3.283 and monthly, annual and semiannual risky levels at 3.178, 3.107 and 3.082.

    Comex Gold - ($1283.9) My quarterly value level is $1234.6 with daily and monthly pivots at $1283.2 and $1304.3 and weekly, semiannual and annual risky levels at $1360.2, $1613.0, $1738.7, $1747.4 and $1818.8.

    Nymex Crude Oil - ($97.97) A daily value level is $96.75 with weekly, semiannual, annual, monthly and quarterly risky levels at $104.51,$106.48, $107.52 and $107.70.

    The Euro - (1.3388) Daily and annual pivots are 1.3331and 1.3382 with weekly, monthly, quarterly, semiannual and annual risky levels at 1.3483, 1.3703, 1.4079, 1.4617 and 1.5512.

    The Dollar versus Japanese Yen - (102.85) An annual value level is 93.38 with daily, weekly and monthly pivots at 102.56, 101.88 and 102.76 and quarterly risky level at 112.83.

    The British Pound - (1.6880) My annual value level is 1.6262 with daily and quarterly pivots at 1.6850 and 1.6874 and monthly weekly, semiannual and monthly risky levels at 1.7177, 1.7270 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.

    Jul 31 8:23 PM | Link | Comment!
  • Today's Close Will Likely Result In Monthly Pivots To Keep Markets Volatile.

    The daily charts are negative for Dow industrials, S&P 500, Dow Transports and Russell 2000 with the 21-day simple moving averages at 17008, 1975.1, 8317 and 1162.57, respectively. The Nasdaq shifts to a negative daily chart with a daily close today below its 21-day at 4437.

    The weekly charts for Dow Industrials, S&P 500, Nasdaq and Dow Transports remain positive but overbought with the five-week modified moving averages at 16893, 1955.9, 4374 and 8214, respectively. The weekly chart for the Russell 2000 remains negative with its five-week MMA at 1160.18.

    The Dow Utility Average has declining 12x3x3 weekly slow stochastics so its weekly chart shifts to negative this week with a close on Friday below its five-week MMA at 554.91.

    The PHLX Semiconductor Index (SOX) is below its five-week MMA at 624.94 but it still has an overbought 12x3x3 weekly slow stochastic.

    The Housing Sector Index (HGX) ended last week with a negative weekly chart below its five-week MMA with declining stochastic. It remains below its 61.8% Fibonacci retracement of its decline from mid-2005 high to the March 2009 low.

    The ABA Community Bank Index (ABAQ) also has also has a negative weekly chart and below its 61.8% retracement from its high in December 2006 to the March 2009 low.

    This week's risky levels are 17179 Dow Industrials, 2009.2 S&P 500, 4564 Nasdaq, 8434 Dow Transports and 1202.15 Russell 2000.

    Semiannual and annual value levels are 16301, 14835 and 13437 Dow Industrials, 1789.3, 1539.1 and 1442.1 S&P 500, 3972, 3471, 3063 Nasdaq, 7423, 6249 and 5935 Dow Transports and 1139.81, 966.72 and 879.39 Russell 2000.

    Monthly, quarterly and semiannual risky levels are 17364, 17753 and 18522 Dow Industrials, 1994.2, 2052.3 and 2080.3 S&P 500, 4529, 4569 and 4642 Nasdaq, and 1215.89, 1293.11 and 1285.37 on Russell 2000,

    Dow Industrials: (16880) Semiannual and annual value levels are 16301, 14835 and 13467 with a daily pivot at 16889, the July 17 all-time intraday high at 17151.56, and weekly, monthly, quarterly and semiannual risky levels at 17179, 17364, 17753 and 18552.

    S&P 500 - (1970.1) Semiannual and annual value levels are 1789.3, 1539.1 and 1442.1 with a daily risky level at 1977.2, the July 24 all-time intraday high at 1991.39, and monthly, weekly, quarterly and semiannual risky levels at 1994.2, 2009.2, 2052.3 and 2080.3.

    NASDAQ - (4463) Semiannual and annual value levels are 3972, 3471 and 3063 with a daily risky level at 4477, the July 3 multiyear intraday high at 4485.93 and weekly, monthly, quarterly and semiannual risky levels at 4564, 4529, 4569 and 4642.

    NASDAQ 100 (NDX) - (3976) Quarterly, monthly, semiannual and annual value levels are 3936, 3894, 3515, 3078 and 2669 with a daily risky level at 3995, the July 24 multiyear intraday high at 3997.50, and weekly and semiannual risky levels at 4022 and 4105.

    Dow Transports - (8277) Semiannual and annual value levels are 6249 and 5935 with semiannual, daily and monthly pivots at 8256, 4344 and 8365, and weekly and semiannual risky levels at 8434 and 8447, with the July 23 all-time intraday high at 8515.04.

    Russell 2000 - (1146.57) Annual value levels are 966.72 and 879.39 with semiannual and daily pivots 1139.81 and 1145.33, the July 1 all-time intraday high at 1213.55, and weekly, monthly, semiannual and quarterly risky levels at 1202.15, 1215.89, 1285.37 and 1293.11.

    The SOX - (620.60) Daily, semiannual and annual value levels are 611.28, 608.02, 512.94, 371.58 and 337.74 with a quarterly risky level at 626.96, a monthly risky level at 642.34, the July 16 multiyear intraday high 652.28 and weekly risky level at 662.77.

    Dow Utilities: (548.58) Quarterly, semiannual and annual value levels are 536.44, 523.72 and 497.53, with an annual pivot at 548.70, with daily and monthly risky levels at 554.69 and 563.54, a weekly risky level at 569.81, the June 30 all-time intraday high at 576.98 and semiannual risky level at 612.49.

    10-Year Note - (2.556) Weekly, monthly and quarterly value levels are 2.620, 2.787 and 3.048 with daily, annual and semiannual risky levels at 2.505, 2.263, 1.999 and 1.779.

    30-Year Bond - (3.310) Weekly, monthly and quarterly value levels are 3.396, 3.486 and 3.971 with an annual pivot at 3.283, daily, annual and semiannual risky levels at 3.247, 3.107 and 3.082.

    Comex Gold - ($1296.7) Quarterly and monthly value levels are $1234.6 and $1233.8 with a daily pivot at $1294.6, and weekly, semiannual and annual risky levels at $1360.2, $1613.0, $1738.7, $1747.4 and $1818.8.

    Nymex Crude Oil - ($99.50) No value levels with a daily pivot at $100.47, and weekly, monthly, semiannual, annual and quarterly risky levels at $104.51, $105.23, $107.52 and $113.12.

    The Euro - (1.3393) Daily, annual and semiannual value levels are 1.3359, 1.3382 and 1.2203 with weekly, monthly, quarterly, semiannual and annual risky levels at 1.3483, 1.3819, 1.4079, 1.4617 and 1.5512.

    The Dollar versus Japanese Yen - (102.85) An annual value level is 93.38 with daily and weekly pivots at 102.56 and 101.88 and monthly and quarterly risky levels at 106.47 and 112.83.

    The British Pound - (1.6910) Quarterly and annual value levels are 1.6874 and 1.6262 with a daily pivot at 1.6889 and weekly, semiannual and monthly risky levels at 1.7270,1.7302 and 1.7438.

    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.

    Jul 30 8:19 PM | Link | Comment!
  • Dow Transports Is Back Below Monthly And Quarterly Pivots At 8365 / 8256.

    The daily charts are negative for Dow industrials, S&P 500, Dow Transports and Russell 2000 with the 21-day simple moving averages at 17006, 1974.6, 8313 and 1164.78, respectively. The Nasdaq shifts to a negative daily chart with a close today below its 21-day at 4435.

    The weekly charts for Dow Industrials, S&P 500, Nasdaq and Dow Transports remain positive but overbought with the five-week modified moving averages at 16893, 1955.9, 4374 and 8214, respectively. The weekly chart for the Russell 2000 remains negative with its five-week MMA at 1160.18.

    The Dow Utility Average has declining 12x3x3 weekly slow stochastics so its weekly chart shifts to negative this week with a close on Friday below its five-week MMA at 554.91.

    The PHLX Semiconductor Index (SOX) is below its five-week MMA at 624.94 but it still has an overbought 12x3x3 weekly slow stochastic.

    The Housing Sector Index (HGX) ended last week with a negative weekly chart below its five-week MMA with declining stochastic. It remains below its 61.8% Fibonacci retracement of its decline from mid-2005 high to the March 2009 low.

    The ABA Community Bank Index (ABAQ) also has also has a negative weekly chart and below its 61.8% retracement from its high in December 2006 to the March 2009 low.

    This week's risky levels are 17179 Dow Industrials, 2009.2 S&P 500, 4564 Nasdaq, 8434 Dow Transports and 1202.15 Russell 2000.

    Semiannual and annual value levels are 16301, 14835 and 13437 Dow Industrials, 1789.3, 1539.1 and 1442.1 S&P 500, 3972, 3471, 3063 Nasdaq, 7423, 6249 and 5935 Dow Transports and 1139.81, 966.72 and 879.39 Russell 2000.

    Monthly, quarterly and semiannual risky levels are 17364, 17753 and 18522 Dow Industrials, 1994.2, 2052.3 and 2080.3 S&P 500, 4529, 4569 and 4642 Nasdaq, and 1215.89, 1293.11 and 1285.37 on Russell 2000,

    Dow Industrials: (16912) Semiannual and annual value levels are 16301, 14835 and 13467 with a daily risky level at 17068, the July 17 all-time intraday high at 17151.56, and weekly, monthly, quarterly and semiannual risky levels at 17179, 17364, 17753 and 18552.

    S&P 500 - (1970.0) Semiannual and annual value levels are 1789.3, 1539.1 and 1442.1 with the July 24 all-time intraday high at 1991.39, and daily, monthly, weekly, quarterly and semiannual risky levels at 1999.1, 1994.2, 2009.2, 2052.3 and 2080.3.

    NASDAQ - (4443) Semiannual and annual value levels are 3972, 3471 and 3063 with the July 3 multiyear intraday high at 4485.93 and daily, weekly, monthly, quarterly and semiannual risky levels at 4534, 4564, 4529, 4569 and 4642.

    NASDAQ 100 (NDX) - (3959) Quarterly, monthly, semiannual and annual value levels are 3936, 3894, 3515, 3078 and 2669 with the July 24 multiyear intraday high at 3997.50, and daily, weekly and semiannual risky levels at 4045, 4022 and 4105.

    Dow Transports - (8218) Semiannual and annual value levels are 6249 and 5935 with semiannual and monthly pivots at 8256 and 8365, weekly, daily and semiannual risky levels at 8434, 8462 and 8447, with the July 23 all-time intraday high at 8515.04.

    Russell 2000 - (1141.64) Annual value levels are 966.72 and 879.39 with a semiannual pivot at 1139.81 and a daily risky level at 1163.36, the July 1 all-time intraday high at 1213.55, and weekly, monthly, semiannual and quarterly risky levels at 1202.15, 1215.89, 1285.37 and 1293.11.

    The SOX - (614.43) Semiannual and annual value levels are 608.02, 512.94, 371.58 and 337.74 with daily and quarterly risky levels at 623.10 and 626.96 and 627.06, a monthly risky level at 642.34, the July 16 multiyear intraday high 652.28 and weekly risky level at 662.77.

    Dow Utilities: (558.23) Annual, quarterly, semiannual and annual value levels are 548.70, 536.44, 523.72 and 497.53, with daily and monthly risky levels at 565.23 and 563.54, a weekly risky level at 569.81, the June 30 all-time intraday high at 576.98 and semiannual risky level at 612.49.

    10-Year Note - (2.460) Weekly, monthly and quarterly value levels are 2.620, 2.787 and 3.048 with a daily pivot at 2.494 and annual and semiannual risky levels at 2.263, 1.999 and 1.779.

    30-Year Bond - (3.226) Weekly, monthly and quarterly value levels are 3.396, 3.486 and 3.971 with annual and daily pivots at 3.283 and 3.243 and annual and semiannual risky levels at 3.107 and 3.082.

    Comex Gold - ($1299.9) Daily, quarterly and monthly value levels are $1288.8, $1234.6 and $1233.8 with weekly, semiannual and annual risky levels at $1360.2, $1613.0, $1738.7, $1747.4 and $1818.8.

    Nymex Crude Oil - ($100.92) No value levels with daily, weekly, monthly, semiannual, annual and quarterly risky levels at $101.57, $104.51, $105.23, $107.52 and $113.12.

    The Euro - (1.3409) Annual and semiannual value levels are 1.3382 and 1.2203 with daily and weekly pivots at1.3389 and 1.3483 and monthly, quarterly, semiannual and annual risky levels at 1.3819, 1.4079, 1.4617 and 1.5512.

    The Dollar versus Japanese Yen - (102.10) An annual value level is 93.38 with daily and weekly pivots at 102.15 and 101.88 and monthly and quarterly risky levels at 106.47 and 112.83.

    The British Pound - (1.6942) Quarterly and annual value levels are 1.6874 and 1.6262 with a daily pivot at 1.6916 and weekly, semiannual and monthly risky levels at 1.7270,1.7302 and 1.7438.

    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.

    Jul 29 7:43 PM | Link | Comment!
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