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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 Nasdaq Is The Only Average Still Above Its Five-Week MMA.  0 comments
    Aug 17, 2013 9:53 AM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    10-Year Note - (2.829) My semiannual value level is 3.227 with daily, weekly, monthly, annual, and semiannual risky levels at 2.746, 2.745, 2.601, 2.476, 1.981 and 1.719.

    Comex Gold - ($1373.1) Weekly, monthly and weekly value levels are $1312.5, $1229.7 and $1184.8 with daily, annual, quarterly and annual risky levels at $1387.4, $1599.9, $1603.0 and $1852.1.

    Nymex Crude Oil - ($107.78) Monthly and quarterly value levels are $104.48 and $91.75 with a daily pivot at $107.18, and semiannual, annual and weekly risky levels at $109.20, $115.23 and $116.58.

    The Euro - (1.3334) Annual, weekly, semiannual and quarterly value levels are 1.3257, 1.3234, 1.2477 and 1.1545 with a monthly pivot at 1.3313, and daily and annual risky levels at 1.3340 and 1.4295.

    With the Nasdaq below my monthly pivot at 3663, the downside is to quarterly and annual value levels at 14,288 / 12,696 Dow Industrials, 1525.6 / 1348.3 S&P 500, 3284 / 2806 Nasdaq, 5348 / 5469 Dow Transports, and 863.05 / 860.25 / 809.54 Russell 2000. The only major average that did not end the week below its five-week MMA was the Nasdaq. The five-week MMAs are 15,306 Dow Industrials, 1666.8 S&P 500, 3573 Nasdaq, 6426 Dow Transports and 1026.03 Russell 2000. The 12x3x3 weekly slow stochastic readings are declining below 80.00 on Dow Industrials and Dow Transports, but not yet on the S&P 500, Nasdaq or Russell 2000, so it will take at least another week of lower markets to confirm the early-August highs as cycle highs. If all five major averages do not shift to negative on their weekly charts the upside is to my semiannual risky levels at 16,490 Dow Industrials, 1743.5 S&P 500, 3759 Nasdaq, 7104 Dow Transports and 1089.42 Russell 2000.

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    Daily Dow:(15,081) Quarterly and annual value levels are 14,288 and 12,696 with a daily risky level at 15,121, the August 2 all time high at 15,658.43, and monthly and semiannual risky levels at 16,188 and 16,490.

    S&P 500 - (1655.8) Quarterly and annual value levels are 1525.6 and 1348.3 with a daily risky level at 1663.0, the August 2 all time high at 1709.67, and monthly and semiannual risky levels at 1742.5 and 1743.5.

    NASDAQ - (3603) Quarterly and annual value levels are 3284 and 2806 with daily and monthly pivots at 3627 and 3663, the August 5 multi-year high at 3694.18, and semiannual risky level at 3759.

    Dow Transports - (6374) Daily, annual and quarterly value levels are 6351, 5925, 5469 and 5348 with the August 1 all time high at 6686.86, and weekly, monthly and semiannual risky levels at 6743, 7087 and 7104.

    Russell 2000 - (1024.30) Quarterly / annual value levels are 863.05, 860.25 and 809.54 with a daily risky level at 1030.50, the August 5 all time high at 1063.52, and monthly / semiannual risky levels at 1092.24 / 1089.42.

    The SOX- (462.46) Quarterly and annual value levels are 404.59 and 338.03 with a daily pivot at 461.32, and weekly, monthly and semiannual risky levels at 488.82, 513.89 and 533.56.

    Dow Utilities:(481.68) My semiannual pivot is 481.92 with daily, weekly, quarterly, semiannual, monthly and annual risky levels at 487.47, 516.31, 510.38, 523.33, 530.15 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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