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Transports Are Dragging Again!

|Includes:DIA, GLD, QQQ, SPY, iShares 20+ Year Treasury Bond ETF (TLT), XLE

10-Year Note - (1.647) Semiannual and quarterly value levels are 1.853 and 1.869 and 2.502 with a daily pivot at 1.645%, and weekly, monthly and semiannual risky levels at 1.561, 1.468 and 1.389. Weekly closes with the yield above the five-week modified moving average at 1.649 favors higher yields.

Comex Gold - ($1666.7) Semiannual, weekly, annual and monthly value levels are $1643.3, $1638.1, $1575.8 and $1525.3 with daily, semiannual and quarterly risky levels at $1689.7, $1702.5 and $1805.8. The weekly chart stays positive on a weekly close above the five-week MMA at $1620.6.

Nymex Crude Oil - ($95.62) My monthly value level is $90.40 with daily, weekly, annual and quarterly risky levels at $97.69, $98.60, $103.58 and $107.63. The weekly chart stays positive on a weekly close above the five-week modified moving average at $92.08.

The Euro - (1.2497) Monthly and weekly value levels are 1.2237 and 1.2006 with a daily risky level at 1.2619. My semiannual risky level is 1.2917. The weekly chart stays positive on a weekly close above the five-week modified moving average at 1.2406.

The Dow Transportation Average has negative daily and weekly charts with the five-week modified moving average at 5124. The major averages straddle weekly risky levels / pivots at 13,196 Dow Industrials, 1415.0 SPX, 3050 NASDAQ, 5051 Dow Transports, and 806.83 Russell 2000.

Daily Dow:(13,125) Annual and semiannual value levels are 12,312 and 10,738 with weekly, daily, monthly and annual risky levels at 13,196, 13,199, 13,625 and 14,032. The weekly chart profile stays positive on a weekly close above the five-week modified moving average at 13,035.

S&P 500 - (1410.4) My annual value level is 1363.2 with a weekly pivot at 1415.0, and daily and monthly risky levels at 1419.5 and 1458.2. The weekly chart profile stays positive on a weekly close above the five-week modified moving average at 1387.3.

NASDAQ - (3073) Annual and semiannual value levels are 2698 and 2527 with a weekly pivot at 3050, and daily, monthly and annual risky levels at 3108, 3194 and 3232. The weekly chart profile stays positive on a weekly close above the five-week modified moving average at 2992.

Dow Transports - (5073) Weekly and semiannual value levels are 5051, 4449 and 4129 with daily, and monthly risky levels at 5146 and 5373. The weekly chart profile shifts back to positive on a weekly close above the five-week MMA at 5124. The all time high is 5627.85 set on July 7, 2011.

Russell 2000 - (810.40) My semiannual value level is 686.25 with a weekly pivot at 806.83, and daily, annual and monthly risky levels at 820.94, 836.15 and 846.16. The weekly chart profile stays positive with a weekly close above the five-week MMA at 800.00. The all time high is 868.57 set on May 2, 2011.

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Stocks: TLT, GLD, XLE, DIA, QQQ, SPY