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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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  • Only The NASDAQ Has A Weekly Key Reversal Last Week. 0 comments
    Feb 23, 2013 10:29 AM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    10-Year Note - (1.964) Daily, weekly, annual and semiannual value levels are 2.038, 2.173, 2.476 and 3.063 with my annual pivot at 1.981, and monthly and semiannual risky levels at 1.843 and 1.413.

    Comex Gold - ($1579.1) My daily value is $1558.9 with my annual pivot at $1599.9 and weekly, semiannual, monthly, quarterly and annual and semiannual risky levels at $1624.2, $1719.2, $1793.7, $1802.9 and $1852.1.

    Nymex Crude Oil - ($93.41) I show no value levels with daily, monthly and quarterly pivots are $93.86, $96.21 and $95.84 and weekly, annual and semiannual risky levels at $99.09, $115.23, $115.42 and $130.42.

    The Euro - (1.3181) My semiannual value level is 1.2797 with daily and annual pivots at 1.3227 and 1,3257, and quarterly, monthly, weekly and annual risky levels at 1.3334, 1.3570, 1.3430 and 1.4295.

    Friday's closes could have been weekly key reversals, but only the NASDAQ at 3162 ended the week below its prior week's low at 3182.19. The Dow Transports ended the week between annual and semiannual pivots at 5925 and 5955 after setting a new all time closing high at 6020.67 on Feb 19. While I can not confirm a market top I can say that the upside should be limited to my semiannual risky levels at 14,323 Dow Industrials, 1566.9 S&P 500 and 965.51 Russell 2000. Quarterly pivots are; 13,668 Dow Industrials, 1431.1 S&P 500 and 3071 NASDAQ. Annual pivots are; 5469 on Transports, and 860.25 Russell 2000. Annual value levels are; 12,696 and 12,509 Dow Industrials, 1348.3 S&P 500, 2806 and 2790 NASDAQ and 809.54 Russell 2000.

    Daily Dow:(14,001) Quarterly and annual value levels are 13,668, 12,696 and 12,509 with a daily pivot at 13,985, and monthly and semiannual risky levels at 14,132 and 14,323.

    S&P 500 - (1515.6) Quarterly and annual value levels are 1431.1 and 1348.3 with a daily pivot at 1518.0, and monthly and semiannual risky levels at 1542.9 and 1566.9.

    NASDAQ - (3162) Quarterly and annual value levels are 3071, 2806 and 2790 with a daily pivot at 3165, and monthly, weekly and semiannual risky levels at 3250, 3351 and 3583.

    NASDAQ 100 (NDX) - (2737) Annual value levels are 2463 and 2385 with a daily pivot at 2732, and quarterly and monthly risky levels at 2798 and 2871.

    Dow Transports - (5944) Annual, monthly and quarterly value levels are 5469, 5440 and 5094 with annual, semiannual and daily pivots at 5925, 5955 and 5965, and weekly risky level at 6396.

    Russell 2000 - (916.15) Annual, quarterly and annual value levels are 860.25, 821.01 and 809.54 with my monthly pivot at 911.32, and daily, weekly and semiannual risky levels at 924.35, 943.46 and 965.51.

    The SOX- (424.98) Monthly, quarterly and annual value levels are 409.08, 371.62 and 338.03 with a daily pivot at 427.46, and quarterly and semiannual risky levels at 440.36 and 520.17.

    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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