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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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  • Transports Remain The Technical Drag On Stocks.  0 comments
    Sep 5, 2012 5:09 PM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    10-Year Note - (1.587) Semiannual and quarterly value levels are 1.853 and 1.869 with weekly and monthly pivots at 1.645 and 1.620, and daily and semiannual risky levels at 1.561 and 1.389.

    Comex Gold - ($1695.6) Semiannual, and annual value levels are $1643.3 and $1575.8 with weekly and daily pivots at $1683.3 and $1685.3, and semiannual and quarterly risky levels at $1702.5 and $1805.8.

    Nymex Crude Oil - ($95.53) My monthly value level is $93.30 with a daily pivot at $95.20, and weekly, annual and quarterly risky levels at $102.06, $103.58 and $107.63.

    The Euro - (1.2594) My weekly value level is 1.2460 with a daily pivot at 1.2538 and monthly and semiannual risky levels at 1.2714 and 1.2917.

    The Dow Transports stayed below its weekly pivot at 4994 on Wednesday on the lower guidance from FedEx (FDX). The Russell 2000 stayed above its weekly value level at 799.93. My weekly pivot remains at 3076 on the NASDAQ. Weekly risky levels remain at 13,360 Dow Industrials and 1433.0 S&P 500. The major equity averages straddle their five-week modified moving averages at 13,047 Dow Industrials, 1391.2 S&P 500, 3007 NASDAQ, 5101 Dow Transports and 802.46 Russell 2000. New monthly risky levels are 13,666 Dow Industrials, 1486.7 S&P 500 and 5279 Dow Transports. Annual risky levels are 3232 NASDAQ and 836.15 Russell 2000. Annual and semiannual value levels are 12,312 and 10,738 Dow Transports, 1363.2 and 1059.7 S&P 500, 2698 and 2527 NASDAQ, 4449 and 4129 Dow Transports and 686.25 on Russell 2000.

    Daily Dow:(13,047) Annual and semiannual value levels are 12,312 and 10,738 with daily, weekly, monthly and annual risky levels at 13,102, 13,360, 13,666 and 14,032 and 14,493.

    S&P 500 - (1403.4) My annual value level is 1363.2 with daily, weekly and monthly risky levels at 1411.1, 1433.0 and 1486.7.

    NASDAQ - (3069) Annual and semiannual value levels are 2698 and 2527 with a weekly pivot at 3076, and daily, annual, monthly and quarterly risky levels at 3087, 3232, 3340 and 3348.

    Dow Transports - (4951) Daily and semiannual value levels are 4932, 4449 and 4129 with a weekly pivot at 4994, and my monthly risky level at 5279.

    Russell 2000 - (821.31) Weekly and semiannual value levels are 814.70, 799.93 and 686.25 with a daily pivot at 824.93, and annual and monthly risky levels at 836.15 and 864.06.

    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

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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