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QE Fatigue Spreads From Transports To Semiconductors.

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

10-Year Note - (1.632) Weekly, semiannual, quarterly and annual value levels are 1.823, 1.853, 2.109 and 2.502 with a monthly pivot at 1.681, and daily and semiannual risky levels at 1.576 and 1.389.

Comex Gold - ($1774.5) Semiannual and monthly value levels are $1702.5, $1643.3 and $1606.0 with a daily pivot at $1768.3, and weekly and quarterly risky levels at $1826.3, $1844.9 and $1881.4.

Nymex Crude Oil - ($92.03) My daily value level is $88.03 with my monthly pivot at $91.34, and weekly, annual and quarterly risky levels at $98.53, $103.58 and $107.63.

The Euro - (1.2849) Daily and monthly value levels 1.2805 and 1.2589 with a semiannual pivot at 1.2917, and weekly, quarterly and annual risky levels at 1.3024, 1.3048 and 1.4239.

Dow Transports has a negative weekly chart closing below its five-week modified moving average at 5038, and is down 2.5% year-to-date. All four of the other major averages are positive but overbought with closes above their five-week MMAs at 13,299 Dow Industrials, 1425.6 S&P 500, 3090 NASDAQ and 829.42 Russell 2000. QE Fatigue spread to the SOX, which is now negative on its weekly chart with the five-week MMA at 392.72. New monthly and weekly pivots are 13,506 / 13,590 Dow Industrials, 1468.0 / 1472.8 S&P 500, 3210 / 3232 A / 3247 NASDAQ, 4859 / 4996 Dow Transports and 827.70 / 836.15 A / 873.77 Russell 2000.

Daily Dow:(13,437) Annual and semiannual value levels are 12,312 and 10,738 with a daily pivot at 13,445, and monthly, weekly, annual and quarterly risky levels at 13,506, 13,590, 14,032 and 14,192.

S&P 500 - (1440.7) Annual and semiannual value levels are 1363.2 and 1059.7 with a daily pivot at 1438.9, and monthly, weekly, quarterly and annual risky levels at 1468.0, 1472.8, 1513.3 and 1562.9.

NASDAQ - (3116) Annual and semiannual value levels are 2698 and 2527 with a daily pivot at 3107, and monthly, annual, weekly, and quarterly risky levels at 3210, 3232, 3247 and 3295.

Dow Transports - (4893) Monthly and daily and semiannual value levels are 4859, 4804, 4449 and 4129 with weekly, quarterly and annual risky levels at 4996, 5541 and 5861.

Russell 2000 - (837.45) Daily, monthly and semiannual value levels are 833.37, 827.70 and 686.25, my annual pivot at 836.15, and weekly, quarterly and annual risky levels at 873.77, 911.28 and 969.09.

The SOX- (382.27) Daily and semiannual value levels are 373.36 and 326.30 with a monthly pivot at 385.39 and weekly and quarterly risky levels at 404.06 and 439.97.

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