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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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  • The Russell 2000 Sets A New All Time High On Monday. 0 comments
    Jul 8, 2013 4:58 PM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    10-Year Note - (2.636) Weekly and semiannual value levels are 2.737 and 3.227 with daily, annual, monthly, annual and semiannual risky levels at 2.516, 2.476, 2.284, 1.981 and 1.719.

    Comex Gold - ($1234.8) Weekly and daily value levels are $1193.0 and $1188.2 with monthly, annual, quarterly and annual risky levels at $1289.4, $1599.9, $1603.0 and $1852.1.

    Nymex Crude Oil - ($102.77) Weekly and quarterly value levels are $98.07 and $91.75 with a monthly pivot at $101.69, and daily, semiannual and annual risky levels at $103.93, $109.84 and $115.23.

    The Euro - (1.2871) Semiannual and quarterly value levels are 1.2477 and 1.1545 with a daily pivot at 1.2835 and weekly, monthly and annual risky levels at 1.3043, 1.3231 and 1.3257.

    The first of the five major equity averages to set a new all time high is the Russell 2000 with a test of 1011.10 on Monday. The other four were set on May 20/May 22 highs at 15,542.40 Dow Industrials, 1687.18 S&P 500, 3532.04 Nasdaq and 6568.41 Dow Transports. This week's pivots are 15,120 Dow Industrials, 1628.6 S&P 500, 3458 Nasdaq, 6236 Dow Transports and 999.43 Russell 2000. If this week's closes are above the five-week MMAs at 15,007 Dow Industrials, 1617.5 S&P 500, 3413 Nasdaq, 6252 Dow Transports and 978.57 Russell 2000, with weekly momentum rising, the weekly chart profiles shift to positive. My monthly risky levels are poised to be tested at 15,437 Dow Industrials, 1669.0 S&P 500 and 3510 Nasdaq.

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    Daily Dow:(15,225) Quarterly and annual value levels are 14,288 and 12,696 with a weekly pivot at 15,120, and daily and monthly risky levels at 15,312 and 15,437, and the May 22 all time high at 15,542.40.

    S&P 500 - (1640.5) Quarterly and annual value levels are 1525.6 and 1348.3 with a weekly pivot at 1628.6, and daily and monthly risky levels at 1652.0, 1669.0, and the May 22 all time high at 1687.18.

    NASDAQ - (3485) Quarterly and annual value levels are 3284 and 2806 with a weekly pivot at 3458, and daily and monthly risky levels at 3528 and 3510, and the May 22 multi-year high at 3532.04.

    NASDAQ 100 (NDX) - (2966) My Annual value level is 2463 with a weekly pivot at 2941, and daily, monthly and quarterly risky levels at 3001, 2978 and 2983, and the May 22 multi-year high at 3053.51.

    Dow Transports - (6298) Annual and quarterly value levels are 5925, 5469 and 5348 with a weekly pivot at 6236, and daily and monthly risky levels at 6356 and 6758 and the May 20 all time high at 6562.85.

    Russell 2000 - (1009.25) Quarterly and annual value levels are 863.05, 860.25 / 809.54 with a weekly pivot at 999.43, and daily and monthly risky levels at 1020.00 and 1030.75, which are above the July 8 high at 1010.10.

    The SOX- (466.50) Quarterly and annual value levels are 404.59 and 338.03 with a weekly pivot at 471.68, and daily and monthly risky levels at 474.14 and 496.16.

    Dow Utilities:(483.22) My weekly value level is 460.03 with daily, monthly, quarterly, semiannual and annual risky levels at 486.79, 489.78, 510.38, 523.33 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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