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Stocks May Soon Suffer From QE Fatigue.

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

10-Year Note - (1.779) Daily and weekly value levels are 1.876 and 1.929 with semiannual and quarterly pivots at 1.853 and 1.869 and monthly and semiannual risky levels at 1.620 and 1.389.

Comex Gold - ($1773.1) Monthly, semiannual, and annual value levels are $1753.0, $1702.5, $1643.3 and $1575.8 with daily and weekly pivots are $1776.1 and $1775.0, and quarterly risky levels at $1803.8 and $1856.6.

Nymex Crude Oil - ($91.66) My semiannual value level lags at $76.71 with a monthly pivot at $93.30, and daily, weekly, annual and quarterly risky levels at $95.22, $99.12, $103.58, $107.63 and $117.00.

The Euro - (1.3052) Semiannual and monthly value levels are 1.2917 and 1.2714 with a weekly pivot at 1.3051, and daily, annual and quarterly risky levels at 1.3162, 1.4239 and 1.4583.

After the close on Wednesday, Norfolk Southern (NYSE:NSC) issued an earnings warning caused by lower coal and merchandise rail shipments, and this increases the odds that Dow Transports will end the week below its five-week modified moving average at 5118. This followed the earlier FedEx (NYSE:FDX) warning and both are clear signs that the economy is slowing, and are early symptoms of QE Fatigue! The key five-week MMAS are 13,194 Dow Industrials, 1413.1 S&P 500, 3062 NASDAQ and 820.92 Russell 2000. Weekly pivots are 5173 Transports and 852.64 Russell 2000 with weekly risky levels at 13,710 Dow Industrials, 1479.2 S&P 500 and 3222 NASDAQ. My monthly risky levels are 13,666 Dow Industrials, 1486.7 S&P 500, 3232 A NASDAQ, 5279 Dow Transports and 864.06 Russell 2000. My annual pivot is 836.15 Russell 2000.

Daily Dow:(13,578) Annual and semiannual value levels are 12,312 and 10,738 with daily, monthly, weekly, annual and quarterly risky levels at 13,653, 13,666, 13,710, 14,032 and 14,493.

S&P 500 - (1461.1) Annual and semiannual value levels are 1363.2 and 1059.7 with daily, weekly, monthly, quarterly and annual risky levels at 1466.0, 1479.2, 1486.7, 1539.8 and 1562.9.

NASDAQ - (3183) Daily, annual and semiannual value levels are 3171, 2698 and 2527 with weekly, annual, monthly and quarterly risky levels at 3222, 3232, 3340 and 3348.

Dow Transports - (5103) Semiannual value levels are 4449 and 4129 with a weekly pivot at 5173, and daily, monthly, quarterly and annual risky levels at 5206, 5279, 5410 and 5861.

Russell 2000 - (856.05) Annual semiannual value levels are 836.15 and 686.25 with a weekly pivot at 852.64, and daily, monthly and quarterly risky levels at 863.30, 864.06 and 877.61.

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