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Weekly Closes Are Likely To Be Mixed As QE Fatigue Spreads.

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

10-Year Note - (1.639) Weekly, quarterly and semiannual value levels are 1.854, 1.869, 1.853 and 2.502 with a monthly pivot at 1.620, and daily and semiannual risky levels at 1.588 and 1.389.

Comex Gold - ($1779.8) Semiannual, and annual value levels are $1702.5, $1643.3 and $1575.8 with monthly, daily and weekly pivots at $1753.7, $1779.9 and $1768.3, and quarterly risky levels at $1805.8 and $1856.6.

Nymex Crude Oil - ($92.10) My daily value level is $88.21 with my monthly pivot at $93.30, and weekly, annual and quarterly risky levels at $99.84, $103.58 and $107.63.

The Euro - (1.2911) Daily and monthly value levels 1.2793 and 1.2714 with a semiannual pivot at 1.2917, and weekly, annual and quarterly risky levels at 1.3028, 1.4239 and 1.4583.

The Dow Transportation Average stays negative on its weekly chart with a close on Friday below its five-week modified moving average at 5075. The other major averages stay positive but overbought on weekly closes above their five-week MMAs at 13,268 Dow Industrials, 1422.2 S&P 500, 3085 NASDAQ and 827.66 Russell 2000. This week's pivots / risky levels are 13,566 Dow Industrials, 1471.1 S&P 500, 3238 NASDAQ, 5002 Dow Transports and 859.38 on the Russell 2000. Next week I will have new weekly, monthly and quarterly value levels, pivots and risky levels.

Daily Dow:(13,486) Annual and semiannual value levels are 12,312 and 10,738 with a daily pivot at 13,496, and weekly monthly, annual and quarterly risky levels at 13,566, 13,666, 14,032 and 14,493.

S&P 500 - (1447.2) Annual and semiannual value levels are 1363.2 and 1059.7 with a daily pivot at 1442.6, and weekly, monthly, quarterly and annual risky levels at 1471.1, 1486.7, 1539.8 and 1562.9.

NASDAQ - (3137) Annual and semiannual value levels are 2698 and 2527 with a daily pivot at 3124, and weekly, annual, monthly and quarterly risky levels at 3238, 3232, 3340 and 3348.

Dow Transports - (4941) Daily and semiannual value levels are 4800, 4449 and 4129 with weekly, monthly, quarterly and annual risky levels at 5002, 5279, 5410 and 5861. The weekly chart profile stays negative on a weekly close below the five-week MMA at 5075.

Russell 2000 - (843.54) My semiannual value level lags at 686.25 with daily and annual pivots at 837.08 and 836.15, and weekly and monthly risky levels at 859.38 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

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