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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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  • Risky Levels Loom In An Overvalued / Overbought Market. 0 comments
    Mar 25, 2013 5:16 PM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    10-Year Note - (1.911) Weekly, annual, and semiannual value levels are 1.975, 1.981, 2.476 and 3.063 and daily, monthly and semiannual risky levels at 1.866, 1.796 and 1.413.

    Comex Gold - ($1603.0) My weekly value level is $1559.9 with my annual pivot at $1599.9 and daily, semiannual, monthly, quarterly and annual risky levels at $1618.4, $1719.2, $1737.6, $1802.9 and $1852.1.

    Nymex Crude Oil - ($94.55) My weekly value level is $92.23 with a daily pivot at $94.50, and quarterly, monthly and annual risky levels at $95.84, $98.23 and $115.23.

    The Euro - (1.2855) My semiannual value level is 1.2797 with daily and weekly pivots at 1.2922 and 2.2911, and monthly, annual and quarterly risky levels at 1.3249, 1.3257 and 1.3334.

    The stock market is overvalued fundamentally and overbought technically as the major averages test risky levels; weekly at 14,551 was tested on Dow Industrials, weekly and semiannual loom on the S&P 500 at 1566.0 and 1566.9, weekly at 3268 on NASDAQ, weekly at 6223 was tested on Dow Transports, and weekly and semiannual on Russell 2000 at 953.96 and 965.51. My semiannual and annual pivots are value levels at 5995 and 5925 on Dow Transports. My semiannual pivot is 14,323 Dow Industrials. Annual value levels are 12,696 Dow Industrials, 1348.3 S&P 500, 2806 NASDAQ, 5469 Dow Transports and 860.25 / 809.54 Russell 2000.

    Daily Dow:(14,448) Monthly, quarterly and annual value levels are 13,949, 13,668, 12,696 and 12,509 with a semiannual pivot at 14,323 and daily and weekly risky levels at 14,501 and 14,551, which was tested on Monday. Set a new intra-day all time high at 14,563.75 on March 25, 2013, but the all time closing high is at 14,539.14 set on March 14, 2013.

    S&P 500 - (1551.7) Monthly, quarterly and annual value levels are 1528.6, 1431.1 and 1348.3 with a daily pivot at 1554.2, and weekly and semiannual risky levels at 1566.0 and 1566.9. The October 2007 high is 1576.09.

    NASDAQ - (3235) Monthly, quarterly and annual value levels are 3197, 3071, 2806 and 2790 with a daily pivot at 3236, and weekly and semiannual risky levels at 3268 and 3583.

    NASDAQ 100 (NDX) - (2789) Annual value levels are 2463 and 2385 with daily, quarterly and monthly pivots at 2789, 2798 and 2809 and weekly risky level at 2818.

    Dow Transports - (6134) Semiannual and annual pivots are 5955 and 5925 with a daily pivot at 6174, and weekly risky level at 6223, which was tested on Monday. Monthly and annual value levels are 5522 and 5469. Set a new all time intra-day high at 6291.65 on March 19, 2013 and a new all time closing high at 6281.24 on March 14, 2013.

    Russell 2000 - (945.85) Monthly and annual value levels are 901.68 and 860.25 with weekly and semiannual risky levels at 953.96 and 965.51. Set a new all time intra-day high at 954.00 on March 15, 2013.

    The SOX- (429.17) Daily, monthly and quarterly value levels are 422.31, 404.22 and 371.62 with weekly risky level at 440.90. My semiannual risky level is 520.17 with the July 2007 high at 549.39.

    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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