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New Highs For The 5 Major Averages, And A Potential Key Reversal!

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

10-Year Note - (1.810) Monthly, annual and semiannual value levels are 1.945, 1.981, 2.476 and 3.063 with a daily pivot at 1.801, and weekly and semiannual risky levels at 1.519 and 1.413.

Comex Gold - ($1455.8) The 200-week SMA is $1443.2 with a weekly pivot at $1457.7, and monthly, annual, semiannual, quarterly and annual risky levels at $1566.7, $1599.9, $1719.2, $1808.3 and $1852.1.

Nymex Crude Oil - ($95.91) Weekly, monthly and quarterly value levels are $94.78, $88.34 and $79.66 with a daily pivot at $96.18, and annual risky level at $115.23.

The Euro - (1.3035) Semiannual and quarterly value levels are 1.2797 and 1.2169 with a weekly pivot at 1.3059, and daily, annual and monthly risky levels at 1.3106, 1.3257 and 1.3597.

Dow Industrials, S&P 500, NASDAQ, Dow Transports and Russell 2000 set new all time or multi-year highs on Thursday, and Transports closed below Wednesday's low setting up a potential key reversal given lower closes Friday and Monday. A close on Friday below 965.51 on Russell 2000 warns.

Daily Dow:(15,083) Monthly, semiannual, quarterly and annual value levels are 14,651, 14,323, 13,755 and 12,696 with weekly and daily pivots at 14,990 and 15,102, and the May 9 all time high at 15,144.83.

S&P 500 - (1626.7) Weekly, monthly, semiannual, quarterly and annual value levels are 1603.3, 1587.3, 1566.9, 1448.7 and 1348.3 with a daily risky level at 1633.5, and the May 9 all time high at 1635.01.

NASDAQ - (3409) Weekly, monthly, quarterly and annual value levels are 3312, 3233, 3106 and 2806 with the May 9 multi-year high at 3428.54, and daily and semiannual risky levels at 3442 and 3583.

NASDAQ 100 (NDX) - (2961) Weekly, quarterly, monthly and annual value levels are 2875, 2819, 2750 and 2463 with the May 9 multi-year high at 2980.36 and daily risky level at 3003.

Dow Transports - (6339) Monthly, weekly, annual, semiannual and quarterly value levels are 6284, 6185, 5955, 5925, 5469 and 5324 with a daily pivot at 6363, and the May 9 all time high at 6417.38 .

Russell 2000 - (966.26) Weekly, annual and quarterly value levels are 940.39, 860.25, 809.54 and 807.82 with monthly, annual and daily pivots at 962.82, 965.51 and 967.90, and the May 8 all time high at 970.46.

The SOX- (461.85) Weekly, monthly, quarterly, and annual value levels are 433.09, 419.92, 357.61 and 338.03 with a daily risky level at 464.36. My semiannual risky level is 520.17 with the July 2007 high at 549.39.

Dow Utilities:(512.69) Monthly and semiannual value levels are 509.53 and 474.63 with daily and quarterly pivots at 513.50, and weekly and annual risky levels at 524.64, 546.55 and 540.37.

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