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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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  • Stock Top Still Not Confirmed, But Negative Divergences Remain. 0 comments
    Apr 27, 2013 8:05 AM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    10-Year Note - (1.667) Weekly, annual, monthly and semiannual value levels are 1.758, 1.981, 2.035, 2.476 and 3.063 with a daily pivot at 1.665, and semiannual risky level at 1.413.

    Comex Gold - ($1456.7) The 200-week SMA is $1437.9 with daily, weekly, annual, semiannual, monthly, quarterly and annual risky levels at $1480.6, $1481.0, $1599.9, $1719.2, $1723.4, $1808.3 and $1852.1.

    Nymex Crude Oil - ($92.78) Daily and quarterly value levels are $91.64 and $79.66 with weekly, monthly and annual risky levels at $94.40, $98.93 and $115.23.

    The Euro - (1.3028) Daily, semiannual and quarterly value levels are 1.2878, 1.2797 and 1.2169 with a weekly pivot at 1.3001, and annual and monthly risky levels at 1.3257 and 1.3668.

    A market top could not be confirmed last week as weekly closes were above the five-week modified moving averages (MMA) at 14,495 Dow Industrials, 1556.5 S&P 500, 3233 NASDAQ, 6071 Dow Transports and 928.85 Russell 2000. Transports and Russell shows declining weekly momentum, which is a negative divergence. My overall neutral zone continues to be between my semiannual value level at 14,323 and my semiannual risky level at 965.51 Russell 2000, with semiannual pivots in-between at 1566.9 S&P 500 and 5925 and 5955 Dow Transports. Dow Utilities continue to set new multi-year highs almost daily with Friday's high at 534.31 with its all time high at 555.71 set in January 2008.

    Daily Dow:(14,713) Daily, semiannual, monthly, quarterly and annual value levels are 14,530, 14,323, 14,286, 13,755 and 12,696 with weekly risky level at 15,111. Set its all time intra-day high and closing highs at 14,887.51 and 14,865.14 on April 11, 2013.

    S&P 500 - (1582.2) Semiannual, daily, quarterly and annual value levels are 1566.9, 1562.9, 1448.7 and 1348.3 with a weekly risky level at 1615.1 versus the all time high at 1597.35 set on April 11, 2013.

    NASDAQ - (3279) Daily, quarterly and annual value levels are 3224, 3106 and 2806 with a monthly pivot at 3289 and weekly risky level at 3335, and semiannual risky level at 3583.

    NASDAQ 100 (NDX) - (2849) Daily, quarterly and annual value levels are 2787, 2819 and 2463 with a monthly pivot at 2839 and weekly risky levels at 2877, and the September 21, 2012 high at 2878.38.

    Dow Transports - (6116) Daily, annual, monthly, semiannual and quarterly value levels are 6069, 5925, 5960, 5955, 5469 and 5324 with a weekly risky level at 6303. The all time intra-day high is 6291.65 on March 19, 2013 and an all time closing high at 6281.24 on March 14, 2013.

    Russell 2000 - (935.25) Daily, annual and quarterly value levels are 923.34, 860.25, 809.54 and 807.82 with weekly, monthly and annual risky levels at 961.25, 958.79 and 965.51. Set a new all time intra-day high at 954.00 on March 15, 2013.

    The SOX- (435.29) Daily, monthly, quarterly, and annual value levels are 422.88, 419.96, 357.61 and 338.03 with a weekly risky level at 436.31. My semiannual risky level is 520.17 with the July 2007 high at 549.39.

    Dow Utilities:(532.03) Quarterly and semiannual value levels are 524.16 and 474.63 with daily, weekly and annual risky levels at 534.14, 545.18 and 540.37.

    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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