Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

The Dow Sniffs My Semiannual Risky Level At 14,323 Then Fades.

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

10-Year Note - (1.939) Annual, and semiannual value levels are 1.981, 2.476 and 3.063 with a weekly pivot at 1.932, and daily, monthly and semiannual risky levels at 1.824, 1.796 and 1.413.

Comex Gold - ($1580.8) The December 2011 low is $1523.9 with my annual pivot at $1599.9, and weekly, semiannual, monthly, quarterly and annual risky levels at $1604.8, $1719.2, $1737.6, $1802.9 and $1852.1.

Nymex Crude Oil - ($90.44) The 200-week SMA is $86.64 with a daily value level at $89.28, the 200-day SMA at $90.35, and weekly, quarterly, monthly and annual risky levels at $95.72, $95.84, $98.23, $115.23 / $115.42.

The Euro - (1.2988) Daily and semiannual value levels are 1.2901 and 1.2797 with monthly, annual, quarterly, weekly and annual risky levels at 1.3249, 1.3257, 1.3334, 1.3430 and 1.4295.

The way I see it the Dow Industrials tested its semiannual risky level at 14,323 given the fact that Diamonds Trust (NYSEARCA:DIA) tested its semiannual risky level at 143.01. We had a new all time high and closing high for Dow Industrials at 14,320.65 and 14,296.24, but only a new all time high at 6188.58 on Dow Transports. Weekly and semiannual risky levels are; 14,387 / 14,323 Dow Industrials, 1547.7 / 1566.9 S&P 500, 6192 Sow Transports and 936.95 / 965.51 Russell 2000. My semiannual and annual pivots are 5955 and 5925 on Dow Transports. Longer term annual value levels lag at 12,696 Dow Industrials, 1348.3 S&P 500, 2806 NASDAQ, 5469 Dow Transports and 860.25 / 809.54 Russell 2000.

Daily Dow:(14,296) Daily, monthly, quarterly and annual value levels are 14,195, 13,949, 13,920, 13,668, 12,696 and 12,509 with semiannual and weekly risky levels at 14,323 and 14,387.

S&P 500 - (1541.5) Daily, monthly, quarterly and annual value levels are 1524.7, 1528.6, 1431.1 and 1348.3 with weekly and semiannual risky levels at 1547.7 and 1566.9. The October 2007 high is 1576.09.

NASDAQ - (3222) Daily, monthly, quarterly and annual value levels are 3191, 3197, 3071, 2806 and 2790 with a weekly pivot at 3226 and semiannual risky level at 3583.

NASDAQ 100 (NDX) - (2793) Daily and annual value levels are 2771, 2463 and 2385 with weekly and semiannual pivots at 2779 and 2798, and monthly risky level at 2809, which was nearly tested on Wednesday.

Dow Transports - (6111) Daily, semiannual, annual, monthly, annual and quarterly value levels are 6058, 5955, 5925, 5522, 5469 and 5094 with weekly risky level at 6192.

Russell 2000 - (929.96) Daily, monthly, annual, quarterly and annual value levels are 913.99, 901.68, 860.25, 821.01 and 809.54 with weekly and semiannual risky levels at 936.95 and 965.51.

The SOX- (432.96) Daily, monthly, quarterly and annual value levels are 427.70, 404.22, 371.62 and 338.03 with quarterly, weekly and semiannual risky levels at 440.36, 441.87 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

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