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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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  • The Russell 2000 Tested Its 50-Day SMA On Wednesday. 0 comments
    Oct 10, 2012 5:10 PM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    10-Year Note - (1.682) Weekly, semiannual, quarterly and annual value levels are 1.779, 1.853, 2.109 and 2.502 with daily and monthly pivots at 1.686 and 1.681, and semiannual risky level at 1.389.

    Comex Gold - ($1764.8) Semiannual and monthly value levels are $1702.5, $1643.3 and $1606.0 with a daily pivot at 1778.0, and weekly and quarterly risky levels at $1848.5, $1844.9 and $1881.4.

    Nymex Crude Oil - ($91.39) Daily and semiannual value levels are $89.79 and $76.71 with my monthly pivot at $91.34, and weekly and annual risky levels are $95.29 and $103.58.

    The Euro - (1.2898) My monthly value level is 1.2589 with my semiannual pivot at 1.2917, and daily, quarterly, weekly and annual risky levels at 1.3016, 1.3048, 1.3316 and 1.4239.

    The major equity averages straddle 50-day simple moving averages at; 13,303 Dow Industrials, 1426 SPX, 3085 NASDAQ, 5053 Dow Transports, 824.79 Russell 2000 and 393.54 SOX. The Russell 2000 held its 50-day on Wednesday. The major equity averages also straddle monthly and weekly value levels, pivots and risky levels at; 13,506 / 13,606 Dow Industrials, 1468.0 / 1474.6 S&P 500, 3210 / 3224 NASDAQ, 4859 / 5049 Dow Transports and 827.70 / 871.10 Russell 2000. If Industrials end the week below 13,506 the risk is to my annual value levels at 1363.2 S&P 500, then 12,312 Dow Industrials and 2698 NASDAQ. The Russell 2000 is below its annual pivot at 836.15.

    Daily Dow:(13,345) Annual and semiannual value levels are 12,312 and 10,738 with a monthly pivot at 13,506, and daily, weekly, annual and quarterly risky levels at 13,546, 13,606, 14,032 and 14,192.

    S&P 500 - (1432.6) Annual and semiannual value levels are 1363.2 and 1059.7 with daily, monthly, weekly, quarterly and annual risky levels at 1454.0, 1468.0, 1474.5, 1513.3 and 1562.9.

    NASDAQ - (3052) Annual and semiannual value levels are 2698 and 2527 with daily, monthly, weekly, annual and quarterly risky levels at 3092, 3210, 3224, 3232 and 3295.

    Dow Transports - (5000) Monthly and semiannual value levels are 4859, 4449 and 4129 with daily and weekly pivots at 5083 and 5049, and quarterly and annual risky levels at 5541 and 5861.

    Russell 2000 - (826.76) My semiannual value level is 686.25 with a monthly pivot at 827.70, and daily, annual and weekly risky levels at 835.23, 836.15 and 871.10.

    The SOX- (368.03) Semiannual value level is 326.30 with daily, weekly and monthly pivots at 373.39, 383.39 and 385.39, and quarterly risky level at 439.97. The QE3 high is 410.82 on September 14.

    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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