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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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  • Dow Industrials Closed At A New YTD Closing High.  0 comments
    Sep 6, 2012 5:43 PM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    10-Year Note - (1.671) 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 1.567 and 1.389.

    Comex Gold - ($1703.7) Semiannual, and annual value levels are $1643.3 and $1575.8 with weekly, daily and semiannual pivots at $1683.3, $1694.6 and $1702.5, and quarterly risky level at $1805.8.

    Nymex Crude Oil - ($94.81) My monthly value level is $93.30 with a daily pivot at $94.87, and weekly, annual and quarterly risky levels at $102.06, $103.58 and $107.63.

    The Euro - (1.2634) My weekly value level is 1.2460 with a daily pivot at 1.2609 and monthly and semiannual risky levels at 1.2714 and 1.2917.

    The Dow Industrial Average closed at 13,292 on Thursday, a new YTD closing high. Transports need a close above its March 19th closing high at 5360.04 to generate a Dow Theory Buy Signal. The Dow Transports needs to close above its five-week modified moving at 5101 to end the week neutral instead of negative. The other major averages are solidly above their five-week MMAs so their weekly charts will remain positive. These MMAs are 13,047 Dow Industrials, 1391.2 S&P 500, 3007 NASDAQ and 802.46 Russell 2000. Monthly risky levels are 13,666 Dow Industrials, 1486.7 S&P 500, 3232 / 3340 NASDAQ, 5279 Dow Transports and 864.06 Russell 2000, as the small cap index returned to its annual pivot at 836.15. Annual value levels are 12,312 on Dow Industrials, 1363.2 on the S&P 500, 2698 NASDAQ, 4449 Dow Transports and 686.25 on Russell 2000.

    Daily Dow:(13,292) Daily, annual and semiannual value levels are 13,085, 12,312 and 10,738 with weekly, monthly and annual risky levels at 13,360, 13,666 and 14,032.

    S&P 500 - (1432.1) Daily and annual value levels are 1413.1 and 1363.2 with weekly and monthly risky levels at 1433.0 and 1486.7.

    NASDAQ - (3136) Daily, weekly, annual and semiannual value levels are 3100, 3076, 2698 and 2527 with annual, monthly and quarterly risky levels at 3232, 3340 and 3348.

    Dow Transports - (5045) Daily and semiannual value levels are 4934, 4449 and 4129 with a weekly pivot at 4994, and my monthly risky level at 5279. The weekly chart profile stays negative on a weekly close below the five-week modified moving average at 5101.

    Russell 2000 - (837.93) Daily, weekly and semiannual value levels are 831.37, 814.70, 799.93 and 686.25 with my annual pivot at 836.15, and my monthly risky level at 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

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