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The Dow Industrial Average Ended Friday Below 13,668.

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

10-Year Note - (1.845) Annual and semiannual value levels are 1.981, 2.476 and 3.063 with daily and weekly pivots at 1.848 and 1.840 and semiannual and monthly risky levels at 1.413 and 1.349.

Comex Gold - ($1684.9) Monthly, weekly and annual value levels are $1673.8, $1609.2 and $1599.9 with semiannual, quarterly and annual risky levels at $1719.2, $1802.9 and $1852.1.

Nymex Crude Oil - ($95.37) Weekly and monthly value levels are $93.75 and $74.23 with daily and quarterly pivots at $95.28 and $95.84 and annual risky levels at $115.23 and $115.42.

The Euro - (1.3313) Semiannual and monthly value levels are 1.2797 and 1.2343 with annual, quarterly and weekly pivots at 1.3257, 1.3334 and 1.3360, and daily risky level at 1.3501.

The Euro - (1.3375) Semiannual and monthly value levels are 1.2797 and 1.2343 with annual and quarterly pivots at 1.3257 and 1.3334 and daily and annual risky levels at 1.3432 and 1.4295.

Dow Transports set a series of new all time closing highs last week including Friday's closing high at 5695.27. Dow Industrials ended Friday just below its quarterly risky level at 13,668. The Industrials need to set a new closing high above 14,164.15 set on Oct 9, 2007 to confirm a "Dow Theory Buy Signal." The Russell 2000 also ended Friday at an all time high at 892.80. If the Dow Industrials breakouts out above 13,668 this week, the upside is to quarterly / semiannual risky levels at 14,118 / 14,323. This does not guarantee a close above 14,164.15 however. The key value levels to hold this week are 13,583 Dow Industrials and 1477.8 S&P 500, with a weekly pivot at 3130 DASDAQ and weekly risky levels at 5725 Dow Transports and 902.48 Russell 2000. Longer term annual pivots are important to hold at 5469 Dow Transports and 860.25 Russell 2000.

Daily Dow:(13,650) Monthly and annual value levels are 12,818, 12,696 and 12,509 with a weekly pivot at 13,583 and quarterly, daily and semiannual risky levels at 13,668, 13,738, 14,118 and 14,323.

S&P 500 - (1486.0) Quarterly, monthly and annual value levels are 1431.1, 1397.6 and 1348.3 with a weekly pivot at 1477.8, and daily, quarterly and semiannual risky levels at 1492.6, 1510.0 and 1566.9.

NASDAQ - (3135) Quarterly, monthly and annual value levels are 3071, 2934, 2806 and 2790 with a weekly pivot at 3130, and daily, quarterly and semiannual risky levels at 3154, 3205, 3274 and 3583.

NASDAQ 100 (NDX) - (2743) Monthly and annual value levels are 2610, 2463 and 2385 with a weekly pivot at 2733, and daily and quarterly risky levels at 2758, 2798 and 2920.

Dow Transports - (5695) Annual, quarterly and monthly value levels are 5469, 5094 and 5012 with weekly, daily, annual and semiannual risky levels at 5725, 5763, 5925 and 5955.

Russell 2000 - (892.80) Annual, quarterly, monthly value levels are 860.25, 821.01, 813.37 and 809.54 with daily, weekly, quarterly and semiannual risky levels at 895.19, 902.48, 913.92 and 965.51.

The SOX- (410.64) Quarterly, monthly and annual value levels are 371.62, 347.83 and 338.03 with a weekly pivot at 412.87 and daily, quarterly and semiannual risky levels at 417.33, 440.36 and 520.17.

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