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  • Dow Transports Sets New All Time High Above My Semiannual Pivot At 7104. 0 comments
    Nov 4, 2013 5:29 PM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    The yield on the US Treasury 10-Year retested its annual pivot at 2.476% pre-Fed Statement last Wednesday and the daily chart favors a retest of its 50-day SMA now at 2.706%. The yield on the US Treasury 30-Year bond could rise to its 50-day at 3.732% given its negative daily chart. The weekly chart shows the 10-Year yield back above its 200-week SMA at 2.506% with the five-week MMA at 2.637. The weekly chart shows the 30-year yield back above its 200-week SMA at 3.619% with the five-week MMA at 3.690.

    10-Year Note - (2.605) Monthly and semiannual value levels are 2.829 and 3.227 with a daily pivot at 2.605, and annual, weekly, quarterly and annual risky levels at 2.476, 2.380, 2.252 and 1.981.

    Comex gold has a negative daily chart with its 50-day SMA at $1337.7 and 200-day SMA at $1423.4. The weekly chart is neutral with its five-week MMA at $1323.5 and 200-week SMA at $1480.3.

    Crude oil is below its 200-day SMA at $98.74 with a negative but oversold daily chart. The weekly chart is negative but oversold with its five-week MMA at $99.78 and 200-week SMA at $91.62.

    The euro vs. the dollar has negative daily chart with its 50-day and 200-day SMAs at 1.3488 and 1.3219. The weekly chart shifts to negative with a close this week below its five-week MMA at 1.3523 and the 200-week SMA at 1.3319.

    Comex Gold - ($1313.8) Weekly and monthly value levels are $1248.2 and $1171.8 with daily, quarterly and annual risky levels at $1334.4, $1435.6, $1599.9 and $1852.1.

    Nymex Crude Oil - ($94.47) My weekly value level is $91.95 with a daily pivot at $96.05 with monthly, semiannual, quarterly and annual risky levels at $105.04, $109.84, $114.36 and $115.23.

    The Euro - (1.3520) Monthly, annual, quarterly and semiannual value levels are 1.3428, 1.3257, 1.2805, 1.2756 and 1.2477 with daily, weekly and annual risky levels at 1.3556, 1.3913 and 1.4295.

    The daily chart for the Dow Industrial Average remains positive but overbought with the 50-day SMA at 15,249.41 and the Oct. 30 all time high at 15,721.00. The daily chart for the S&P 500 is positive but overbought with its 50-day SMA at 1700.46 and the Oct. 30 all time high at 1775.22. The Nasdaq has a neutral daily chart with declining momentum with its 50-day SMA at 3780.49 and its Oct. 30 multi-year high at 3966.71. The Dow Transportation Average has a positive but overbought daily chart with its 50-day SMA at 6651.48 and its Nov. 4 all time high at 7131.80. The Russell 2000 has a neutral daily chart profile with its 50-day SMA at 1071.78 and the Oct. 30 all time high at 1123.26.

    The weekly chart for Dow Industrials is positive with its five-week MMA at 15,418.90. The weekly chart for the S&P 500 is positive but overbought with its five-week MMA at 1728.53. The weekly chart for the Nasdaq is positive but overbought with its five-week MMA at 3844.17. The weekly chart for Dow Transports is positive but overbought with its five-week MMA at 6826.69. The weekly chart for the Russell 2000 is positive but overbought with its five-week MMA at 1087.14, but the chart will show a weekly key reversal with a close below 1095.67 on Friday.

    With the Dow Transportation setting yet another all time high the index moves further above my monthly pivot at 6927. My weekly and monthly risky levels at 15,877 / 16,162 Dow Industrials, 1791.3 / 1802.0 S&P 500, 4024 / 4014 Nasdaq, 7186 Dow Transports and 1145.34 / 1133.14 Russell 2000. The S&P 500, Nasdaq and Russell 2000 are above semiannual pivots at 1743.5, 3759 and 1089.42 with a semiannual pivot at 7104 on Dow Transports and semiannual and quarterly risky levels at; 16,490 / 16,775 Dow Industrials, 1853.8 S&P 500, 4025 Nasdaq, 7205 Dow Transports and 1163.21 Russell 2000. If the stock bubble breaks the risk is to my annual pivots / value levels at 12,696 Dow Industrials, 1400.7 / 1348.3 S&P 500, 2806 Nasdaq, 5925 / 5469 Dow Transports, and 860.25 / 809.54 Russell 2000.

    Daily Dow: (15,639) Semiannual and annual value levels are 14,724 and 12,696 with the Oct. 30 all time high at 15,721.00, and daily, weekly, monthly, semiannual and quarterly risky levels at 15,784, 15,877, 16,162, 16,490 and 16,775.

    S&P 500 - (1767.9) Semiannual and annual value levels are 1606.9, 1400.7 and 1348.3 with my semiannual pivot at 1743.5, the Oct. 30 all time high at 1775.22, and daily, weekly, monthly and quarterly risky levels at 1779.6, 1791.3, 1802.0 and 1853.8.

    NASDAQ - (3937) Semiannual and annual value levels are 3759, 3668 and 2806 with a daily risky level at 3962, the Oct. 30 multi-year high at 3966.71, and monthly, weekly and quarterly risky levels at 4014, 4024 and 4025.

    NASDAQ 100 (NDX) - (3385) Semiannual and annual value levels are 3304 and 2463 with the Oct. 30 multi-year high at 3408.67, and daily, monthly, weekly and quarterly risky levels at 3417, 3425, 3446 and 3477.

    Dow Transports - (7129) Annual value levels are 5925 and 5469 with monthly, semiannual and daily pivots at 6927, 7104 and 7130, the Nov. 4 all time high at 7131.80, and weekly and quarterly risky levels at 7186 and 7205.

    Russell 2000 - (1107.81) Semiannual and annual value levels are 1089.42, 860.25 and 809.54 with a daily pivot at 1110.12, the Oct. 30 all time high at 1123.26, and monthly, weekly and quarterly risky levels at 1133.14, 1145.34 and 1163.21.

    The SOX - (504.68) My annual value level is 338.03 with the Oct. 31 multi-year high at 510.17, and daily, monthly, weekly, quarterly and semiannual risky level at 514.77, 519.72, 520.64, 514.87 and 533.56.

    Dow Utilities: (505.54) My semiannual value level is 481.92 with a daily pivot at 506.06, and weekly, monthly, quarterly, semiannual and annual risky levels at 510.63, 514.62, 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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