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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 Major Averages Were Technically Downgraded Last Week. 0 comments
    Oct 13, 2012 8:46 AM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    10-Year Note - (1.661) Daily, semiannual, quarterly and annual value levels are 1.725, 1.853, 2.109 and 2.502 with a monthly pivot at 1.681, and weekly and semiannual risky levels at 1.566 and 1.389.

    Comex Gold - ($1756.9) Semiannual and monthly value levels are $1702.5, $1643.3 and $1606.0 with a daily pivot at 1765.9, and weekly and quarterly risky levels at $1878.5 and $1881.4.

    Nymex Crude Oil - ($91.76) Daily and semiannual value levels are $90.25 / $76.71 with monthly and weekly pivots at $91.34 and $91.93, and annual and quarterly risky levels at $103.58 and $107.63.

    The Euro - (1.2955) My monthly value level is 1.2589 with semiannual and daily pivots at 1.2917 and 1.2974, and quarterly, weekly and annual risky levels at 1.3048, 1.3408 and 1.4239.

    Four major equity averages were technically downgraded last week by ending the week below five-week modified moving averages; 13,356 Dow Industrials, 1432.0 S&P 500, 3089 NASDAQ and 830.37 Russell 2000. The weekly chart for the Russell 2000 is negative as MOJO is declining below 8.0 while the other averages still have overbought MOJO. Dow Transports has a neutral weekly chart profile with a weekly close just above its 5-week MMA at 5041. Transports is the only index above weekly and monthly pivots at 4884 and 4859. The other major averages are below weekly and monthly pivots / risky levels at 13,488 and 13,506 Industrials, 1457.5 / 1468.0 SPX, 3141 / 3210 NASDAQ and 849.10 / 827.70 Russell 2000. Annual value levels are 12,312 Industrials, 1363.2 SPX, and 2698 NASDAQ with an annual pivot at 836.15 Russell 2000.

    Daily Dow:(13,328) Annual and semiannual value levels are 12,312 and 10,738 with daily, weekly, monthly, annual and quarterly risky levels at 13,421, 13,488, 13,506, 14,032 and 14,192.

    S&P 500 - (1428.6) Annual and semiannual value levels are 1363.2 and 1059.7 with daily, weekly, monthly, weekly, quarterly and annual risky levels at 1441.7, 1457.5, 1468.0, 1513.3 and 1562.9.

    NASDAQ - (3044) Annual and semiannual value levels are 2698 and 2527 with a daily pivot at 3055, and weekly, monthly, annual and quarterly risky levels at 3141, 3210, 3232 and 3295.

    Dow Transports - (5045) Weekly, monthly and semiannual value levels are 4884, 4859, 4449 and 4129 with daily, quarterly and annual risky levels at 5131, 5541 and 5861.

    Russell 2000 - (823.17) My semiannual value level is 686.25 with daily and monthly pivots at 825.17 and 827.70, and annual and weekly risky levels at 836.15 and 849.10.

    The SOX- (366.69) Semiannual value level is 326.30 with a daily pivot at 366.02, and weekly and monthly pivots at 371.98 and 385.39, and quarterly risky level at 439.97.

    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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