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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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  • No New Highs And The Nasdaq Traded Around Its Semiannual Pivot At 3759. 0 comments
    Sep 23, 2013 5:14 PM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    The yield on the US Treasury 10-Year note is back below its 50-day simple moving average (NYSE:SMA) at 2.726% and my monthly pivot at 2.725%. The weekly chart favors lower yields with a close this week below its five-week modified moving average (MMA) at 2.730% with the 200-week SMA at 2.532%. The yield on the 30-Year bond is on the cusp of its 50-day SMA at 3.744% with my monthly pivot at 3.738%. The weekly chart will favor lower yields on a weekly close below the five-week MMA at 3.738% with the 200-week SMA at 3.641%.

    Gold traded is below its 50-day SMA at $1341.3 the Troy ounce with this week's risky level at $1367.3. The weekly chart shifts to negative if Friday's close is below the five-week MMA at $1341.9 with the 200-week SMA at $1474.5.

    Crude oil slipped further below my monthly pivot at $105.67 and its 50-day SMA at $106.65 as my semiannual pivot at $109.84 becomes a risky level once again. The weekly chart shifts to negative given a close this week below its five-week MMA at $105.75 with my quarterly value level at $91.75 and the 200-week SMA at $90.92.

    The euro vs. the dollar is above its 50-day and 200-day SMAs at $1.3291 and 1.3164. The weekly chart profile remains positive with a weekly close above five-week MMA at 1.3338 and the 200-week SMA at 1.3346.

    10-Year Note - (2.704) Weekly and semiannual value levels are 2.977 and 3.227 with a monthly pivot at 2.725, and daily, annual, and semiannual risky levels at 2.672, 2.476, 1.981 and 1.719.

    Comex Gold - ($1322.4) Daily and monthly value levels are $1294.5 and $1224.6 with weekly, annual, quarterly and annual risky levels at $1367.3, $1599.9, $1603.0 and $1852.1.

    Nymex Crude Oil - ($103.43) My quarterly value level is $91.75 with monthly and daily pivots at $105.67 and $104.64 and weekly, semiannual and annual risky levels at $109.33, $109.84 and $115.23.

    The Euro - (1.3492) Annual, monthly and semiannual value levels are 1.3257, 1.3111, 1.2756 and 1.2477 with weekly and daily pivots at 1.3408 and 1.3543 and annual risky level at 1.4295.

    The daily charts for the major averages are overbought and above their 50-day SMAs at 15,304 Dow Industrials, 1679.1 S&P 500, 3653 Nasdaq, 6478 Dow Transports and 1044.16 Russell 2000.

    The weekly charts stay positive with a weekly close above the five-week MMAs at 15,260 Dow Industrials, 1679.31 S&P 500, 3678 Nasdaq, 6510 Dow Transports and 1045.49 Russell 2000.

    The Nasdaq remains influenced by monthly, semiannual and weekly pivots at 3772, 3759 and 3749 after setting a multi-year high at 3798.76 on Sep. 20. The all time highs are 15,709.59 Dow Industrials set on Sep. 18, 1729.86 S&P 500 on Sep. 19, 6754.81 Dow Transports on Sep 20 and 1080.49 Russell 2000 on Sep. 18.

    If the Nasdaq ends the week above 3759 the upside potential elsewhere is to semiannual risky levels at 16,490 Dow Industrials, 1743.5 S&P 500, 7104 Dow Transports and 1089.42 Russell 2000.

    This week's value levels are 14,927 Dow Industrials, 1667.5 S&P 500, 3749 Nasdaq, 6530 Dow Transports and 1042.79 Russell 2000.

    Quarterly and annual value levels remain at 14,288 / 12,696 Dow Industrials, 1525.6 / 1348.3 S&P 500, 3284 / 2806 Nasdaq, 5348 / 5469 Dow Transports, and 863.05 / 809.54 Russell 2000.

    Daily Dow: (15,401) Weekly, semiannual, quarterly and annual value levels are 14,927, 14,724, 14,288 and 12,696 with the Sep. 18 all time high at 15,709.59, and daily, monthly and semiannual risky levels at 15,622, 16,336 and 16,490.

    S&P 500 - (1701.8) Weekly, semiannual, quarterly and annual value levels are 1667.5, 1606.9, 1525.6 and 1348.3 with the Sep. 19 all time high at 1729.86, and daily, monthly and semiannual risky levels at 1718.7, 1766.8 and 1743.5.

    NASDAQ - (3765) Weekly, semiannual, quarterly and annual value levels are 3749, 3668, 3592, 3284 and 2806 with monthly and semiannual pivots at 3772 and 3759, the Sep. 20 multi-year high at 3798.76, and daily risky level at 3782.

    NASDAQ 100 (NDX) - (3219) Weekly, monthly, quarterly and annual value levels are 3212, 3185, 2983 and 2463 with the Sep. 20 multi-year high at 3248.52, and daily and semiannual risky levels at 3230 and 3304.

    Dow Transports - (6651) Weekly, annual and quarterly value levels are 6530, 5925, 5469 and 5348 with a daily pivot at 6672, the Sep. 20 all time high at 6754.81, and monthly and semiannual risky levels at 7061 and 7104.

    Russell 2000 - (1072.13) Weekly, quarterly and annual value levels are 1042.79, 863.05, 860.25 and 809.54 with a daily pivot at 1076.75, the Sep. 18 all time high at 1080.49, and monthly and semiannual risky levels at 1093.07 and 1089.42.

    The SOX - (491.29) Weekly, quarterly and annual value levels are 479.94, 404.59 and 338.03 with a daily at 494.86, and monthly and semiannual risky levels at 516.08 and 533.56.

    Dow Utilities: (490.56) Semiannual and weekly value levels at 481.92 and 468.35 with daily, quarterly, semiannual, monthly and annual risky levels at 494.59, 510.38, 523.33, 530.89 and 540.37.

    To learn more about ValuEngine check out www.ValuEngine.com. Any comments or questions contact me at RSuttmeier@gmail.com.

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