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Richard Suttmeier
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ValuEngine.com ValuEngine, Inc is an independent research company, producing recommendations, forecasted target prices, and fair market valuations on over 5,500 equities trading on US exchanges (including over 700 international ADR's).. Research on each equity is updated every trading day to... More
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  • Industrials & Transports Are Below Their Five-Week MMAs. 0 comments
    Aug 30, 2012 5:20 PM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    10-Year Note - (1.625) Semiannual and quarterly value levels are 1.853 and 1.869 with daily, weekly, monthly and semiannual risky levels at 1.545, 1.561, 1.468 and 1.389. Today's close with the yield above the five-week modified moving average at 1.649 is required to favor higher yields.

    Comex Gold - ($1658.3) 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 $1700.7, $1702.5 and $1805.8. The weekly chart stays positive on a weekly close above the five-week modified moving average at $1620.6.

    Nymex Crude Oil - ($94.75) My monthly value level is $90.40 with a daily pivot at $95.74, and weekly, annual and quarterly risky levels at $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 - (1.2506) Monthly and weekly value levels are 1.2237 and 1.2006 with a daily risky level at 1.2684. My semiannual risky level is 1.2917. The 50-day simple moving average is 1.2364 with the 200-day at 1.2861. The weekly chart stays positive on a weekly close above the five-week MMA at 1.2406.

    The major averages straddle their five-week modified moving averages at 13,035 Dow Industrials, 1387.3 SPX, 2992 NASDAQ, 5124 Dow Transports, and 800.00 Russell 2000.

    Daily Dow:(13,001) Daily, annual and semiannual value levels are 12,935, 12,312 and 10,738 with weekly, monthly and annual risky levels at 13,196, 13,625 and 14,032. The weekly chart profile stays positive given a weekly close today above the five-week modified moving average at 13,035.

    S&P 500 - (1399.5) Daily and annual value levels are 1397.2 and 1363.2 with a weekly pivot at 1415.0, and monthly risky level at 1458.2. The weekly chart profile stays positive on a weekly close above the five-week modified moving average at 1387.3.

    NASDAQ - (3049) Annual and semiannual value levels are 2698 and 2527 with weekly and daily pivots at 3050 and 3056, and monthly and annual risky levels at 3194 and 3232. The weekly chart profile stays positive on a weekly close above the five-week modified moving average at 2992.

    Dow Transports - (4993) Daily and semiannual value levels are 4981, 4449 and 4129 with a weekly pivot at 5051, and my monthly risky level at 5373. The weekly chart profile will be negative on a weekly close below the five-week modified moving average at 5124. The all time high is 5627.85 set on July 7, 2011.

    Russell 2000 - (808.65) Daily and semiannual value levels are 806.35 and 686.25 with monthly risky levels at 836.15 and 846.16. The weekly chart profile stays positive with a weekly close above the five-week modified moving average at 800.00. The all time high is 868.57 set on May 2, 2011.

    VE Morning Briefing - If you want expanded analysis of the US Capital Markets go to this link and sign up: http://www.valuengine.com/nl/mainnl?nl=D

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