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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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  • Key Reversals Battle QE Complacency 0 comments
    May 27, 2013 2:57 AM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    10-Year Note - (2.011) Annual and semiannual value levels are 2.476 and 3.063 with my annual pivot at 1.981, daily, monthly, weekly and semiannual risky levels at 1.965, 1.945, 1.795 and 1.413.

    Comex Gold - ($1382.9) Daily and weekly value levels are $1337.4 and $1285.8 with monthly, annual, semiannual, quarterly and annual risky levels at $1566.7, $1599.9, $1719.2, $1808.3 and $1852.1.

    Nymex Crude Oil - ($93.95) Weekly, monthly and quarterly value levels are $89.52, $88.34 and $79.66 with daily and annual risky level at $95.71 and $115.23.

    The Euro - (1.2927) Daily, semiannual and quarterly value levels are 1.2854, 1.2797 and 1.2169 with weekly, annual and monthly risky levels at 1.3175, 1.3257 and 1.3597.

    We enter the last week of May with the annual question, "sell in May and walk away"? The S&P 500 and the Nasdaq ended last week with a key reversal, but Dow Industrials, Dow Transports and Russell 2000 did not. From my semiannual levels I must admit that QE complacency prevented overall key reversals as the Russell 2000 ended the week above my semiannual pivot at 965.51. My market call; Nasdaq 3583 or bust! Or, "Nasdaq 3583 then bust! For this week the major equity averages straddle weekly levels at 15,364 Dow Industrials, 1651.8 S&P 500, 3447 Nasdaq, 6248 Dow Transports and 961.42 Russell 2000. The major averages are well above their semiannual levels at 14,323 Dow Industrials, 1566.9 S&P 500, 5955 Dow Transports and 965.51 Russell 2000.

    Daily Dow:(15,303) Monthly, semiannual, quarterly and annual value levels are 14,651, 14,323, 13,755 and 12,696 with weekly and daily risky levels at 15,364 and 15,406 and the May 22 all time high at 15,542.40.

    S&P 500 - (1649.6) Monthly, semiannual, quarterly and annual value levels are 1587.3, 1566.9, 1448.7 and 1348.3 with a weekly pivot at 1651.8, a daily risky level at 1664.6 and the May 22 all time high at 1687.18.

    NASDAQ - (3459) Weekly, monthly, quarterly and annual value levels are 3447, 3233, 3106 and 2806 with a daily risky level at 3487 and the May 22 multi-year high at 3532.04, and a semiannual risky at 3583.

    NASDAQ 100 (NDX) - (2991) Quarterly, monthly and annual value levels are 2819, 2750 and 2463 with weekly and daily risky levels at 3000, 3015 and the May 22 multi-year high at 3053.51.

    Dow Transports - (6396) Weekly, monthly, weekly, annual, semiannual and quarterly value levels are 6248, 6284, 6113, 5955, 5925, 5469 and 5324 with a daily risky level at 6468 and the May 22 all time high at 6562.85.

    Russell 2000 - (984.28) Semiannual, monthly, weekly, annual and quarterly value levels are 965.51, 962.82, 961.64, 860.25, 809.54 and 807.82 with a daily risky level at 992.26 and the May 22 high at 1008.23..

    The SOX- (461.50) Weekly, monthly, quarterly, and annual value levels are 455.63, 419.92, 357.61 and 338.03 with a daily risky level at 467.17. My semiannual risky level is 520.17 with the July 2007 high at 549.39.

    Dow Utilities:(499.21) My semiannual value level is 474.63 with daily and monthly pivots at 506.15 / 509.53, and quarterly and weekly risky levels at 524.16 / 526.32, and annual and weekly risky levels at 540.37 / 543.29.

    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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