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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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  • New Highs Again Except For Dow Industrials.  0 comments
    Oct 19, 2013 8:04 AM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    If you live in Tampa Bay, or nearby you are invited to attend my presentation at the University of Tampa at 8:00 PM on Wednesday, October 23, 2013. Please email me at rsuttmeier@valuEngine.com.

    The yield on the US Treasury 10-Year declined from its 50-day SMA at 2.747% on Wednesday to 2.540% vs. its monthly pivot at 2.602% and annual risky level at 2.476%. The yield on the US Treasury 30-Year bond declined to 3.617% vs. its monthly pivot at 3.628. The weekly chart shows the 10-Year yield attempting to decline to its 200-week SMA at 2.519%. The weekly chart shows that the 30-year yield tested its 200-week SMA at 3.629%.

    10-Year Note - (2.592) Daily and semiannual value levels are 2.667 and 3.227 with weekly and monthly pivots at 2.621 and 2.603, and annual and semiannual risky levels at 2.476, 1.981 and 1.719.

    Comex gold has a positive daily chart but the precious metal remains below its 50-day SMA at $1341.9 the Troy ounce with the 200-day SMA at $1441.8. The weekly chart stays negative with a weekly close below its five-week MMA at $1321.6 and the 200-week SMA at $1477.1.

    Crude oil remains below its 50-day SMA at $105.35 with the 200-day SMA at $98.55 with declining momentum. The weekly chart remains negative with the five-week MMA at $103.82 and the 200-week SMA at $91.38.

    The euro vs. the dollar is above its 50-day and 200-day SMAs at $1.3409 and 1.3200 with the February high at $1.3709 on a daily chart that shifted to positive on Thursday. The weekly chart remains positive but overbought with the five-week MMA at 1.3469 and the 200-week SMA at 1.3330.

    Comex Gold - ($1315.6) Daily, weekly and monthly value levels are $1269.5, $1266.6 and $1145.2 with quarterly and annual risky levels at $1435.6, $1599.9 and $1852.1.

    Nymex Crude Oil - ($100.83) Monthly and daily value levels are $99.84 and $99.55 with weekly, semiannual, quarterly and annual risky levels at $102.80, $109.84, $114.36 and $115.23.

    The Euro - (1.3684) Annual, quarterly, monthly and semiannual value levels are 1.3257, 1.2805, 1.2782, 1.2756 and 1.2477 with daily and weekly pivots at 1.3589 and 1.3554 and annual risky level at 1.4295.

    The daily chart for the Dow Industrial Average is positive but overbought with the 50-day SMA at 15,163.91 and its Sept. 18 all time high at 15709.59. The S&P 500 is positive but overbought with its 50-day SMA at 1680.50 and its Oct. 18 all time high at 1745.31. The Nasdaq is positive but overbought with its 50-day SMA at 3715.87 and a new multi-year high at 3914.93 set on Oct. 18. The Dow Transportation Average is positive but overbought with its 50-day SMA at 6522.77 and its Oct. 18 all time high at 6830.45. The Russell 2000 is positive but overbought with its 50-day SMA at 1055.22 and new all time high at 1115.05 set on Oct. 18.

    The weekly chart for Dow Industrials shifts is neutral with its five-week MMA at 15,243.98 with flat momentum. The weekly chart for the S&P 500 is positive with its five-week MMA at 1696.49. The weekly chart for the Nasdaq stays positive but overbought with its five-week MMA at 3762.08 as momentum remains well above 80.00 at 93.03. The weekly chart for Dow Transports is positive with its five-week MMA at 6603.20. The weekly chart for the Russell 2000 remains positive but overbought with its five-week MMA at 1070.34 as momentum remains above 80.00 and 89.58.

    This week's pivots / value levels are 15,418 Dow Industrials, 1727.5 S&P 500, 3888 Nasdaq, 6710 Dow Transports and 1102.54 Russell 2000.

    The major equity averages have entered a wide zone of risky levels, except Dow Industrials. Monthly, semiannual and quarterly risky levels at 15,932, 16,490 and 16,775 Dow Industrials, 1746.4 and 1853.8 S&P 500, 4025 Nasdaq, 7104 and 7205 Dow Transports and 1163.21 Russell 2000. Monthly and semiannual pivots are 1743.5 S&P 500, 3830 and 3759 Nasdaq, 6811 Dow Transports and 1092.46 and 1089.42 Russell 2000. My annual value levels remain at 12,696 Dow Industrials, 1348.3 S&P 500, 2806 Nasdaq, 5469 Dow Transports, and 809.54 Russell 2000.

    Daily Dow: (15,400) Semiannual and annual value levels are 14,724 and 12,696 with a weekly pivot at 15,418, a daily risky level at 15,707, the Sept. 18 all time high at 15,709.59, and monthly, semiannual and quarterly risky levels at 15,932, 16,490 and 16,775.

    S&P 500 - (1744.5) Weekly, semiannual and annual value levels are 1727.5, 1606.9, 1400.7 and 1348.3, a semiannual pivot at 1743.5 with the Oct. 18 all time high at 1745.31, and monthly and quarterly risky levels at 1746.4 and 1853.8.

    NASDAQ - (3914) Weekly, monthly, annual, semiannual and annual value levels are 3888, 3830,3759, 3668 and 2806 with the Oct. 18 multi-year high at 3914.93, and daily and quarterly risky levels at 3943 and 4025.

    NASDAQ 100 (NDX) - (3354) Semiannual, weekly, monthly and annual value levels are 3304, 3226, 3254 and 2463 with the Oct. 18 multi-year high at 3355.63, and quarterly risky levels at 3477.

    Dow Transports - (6830) Weekly and annual value levels are 6710, 5925 and 5469 with a monthly pivot at 6811, the Oct. 18 all time high at 6830.45, and daily, semiannual and quarterly risky levels at 6922, 7104 and 7205.

    Russell 2000 - (1114.77) Weekly, semiannual, monthly and annual value levels are 1102.54, 1089.42, 1092.46, 860.25 and 809.54 with the Oct. 18 all time high at 1115.05, and daily and quarterly risky levels at 1127.75 and 1163.21.

    The SOX - (506.44) My annual value level is 338.03 with the Oct. 18 multi-year high at 506.77, and daily, weekly, monthly, quarterly and semiannual risky level at 512.29, 516.84, 512.13, 514.87 and 533.56.

    Dow Utilities: (496.05) Weekly and semiannual value levels are 485.82 and with daily, monthly, quarterly, semiannual and annual risky levels at 499.21, 512.80, 520.55, 523.33 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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