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Stock Top Still Not Confirmed, But Negative Divergences Remain.

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

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.

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