Richard Suttmeier's  Instablog

Richard Suttmeier
Send Message
I am the Founder & CEO at Global Market Consultants, Ltd. I consider myself as a Financial Engineer with an engineering degree from Georgia Tech and a Master of Science degree from Brooklyn Poly. In 1972 I began my career in the financial services industry trading U.S. Treasury securities in the... More
My company:
Global Market Consultants
My blog:
valuengine.com/ve/ma...
  • Dow Industrials Set A New All-Time High At 15,750.29. Others Lag!  0 comments
    Nov 6, 2013 5:29 PM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    The yield on the US Treasury 10-Year stayed just below its 50-day SMA at 2.694% after testing my annual pivot at 2.476% on Oct. 30. The yield on the US Treasury 30-Year bond stays above its 50-day at 3.727% with a high at 3.787%. This made the www.ValuEngine.com valuation warning, as a 2013 high of 83.3% of all stocks are overvalued. The weekly chart shows the 10-Year yield is above its 200-week SMA at 2.500% and its five-week MMA at 2.639%. The weekly chart shows the 30-year yield above its 200-week SMA at 3.615% and its five-week MMA at 3.706%.

    10-Year Note - (2.642) Monthly and semiannual value levels are 2.829 and 3.227 with a daily pivot at 2.666, 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 $1333.9 and 200-day SMA at $1419.7. The weekly chart is neutral with its five-week MMA at $1323.4 and 200-week SMA at $1480.3.

    Crude oil is below its 200-day SMA at $98.72 with a negative but oversold daily chart. The weekly chart is negative but oversold with its five-week MMA at $99.87 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 1.3494 and 1.3219. The weekly chart shifts to negative with a close this week below its five-week MMA at 1.3524 with the 200-week SMA at 1.3319.

    Comex Gold - ($1317.9) Weekly and monthly value levels are $1248.2 and $1171.8 with a daily pivot at $1301.7, and quarterly and annual risky levels at $1435.6, $1599.9 and $1852.1.

    Nymex Crude Oil - ($94.80) Daily and weekly value levels are $93.56 and $91.95 with monthly, semiannual, quarterly and annual risky levels at $105.04, $109.84, $114.36 and $115.23.

    The Euro - (1.3512) Daily, monthly, annual, quarterly and semiannual value levels are 1.3389, 1.3428, 1.3257, 1.2805, 1.2756 and 1.2477 with weekly and annual risky levels at 1.3913 and 1.4295.

    The daily chart for the Dow Industrial Average remains positive but overbought with the 50-day SMA at 15,282.47 with a new all-time high at 15,750.29. The daily chart for the S&P 500 is positive but overbought with its 50-day SMA at 1705.43 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 3793.27 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 6678.70 and its Nov. 4 all time high at 7131.80. The Russell 2000 will have a negative daily chart with a daily close below the 21-day SMA at 1100.19 with its 50-day SMA at 1074.89 and the Oct. 30 all time high at 1123.26.

    The weekly chart for Dow Industrials is positive with its five-week MMA at 15,441.47. The weekly chart for the S&P 500 is positive but overbought with its five-week MMA at 1729.40. The weekly chart for the Nasdaq is positive but overbought with its five-week MMA at 3843.91. The weekly chart for Dow Transports is positive but overbought with its five-week MMA at 6813.03. The weekly chart for the Russell 2000 is positive but overbought with its five-week MMA at 1086.24, but the chart will show a weekly key reversal with a close below 1095.67 on Friday.

    The Dow Industrial Average set a new all-time high at 15,750.29 with this week's risky level at 15,877. Meanwhile Dow Transports is between its monthly pivot at 6927 and its semiannual pivot at 7104 after setting its all-time high at 7,131.80 on Nov. 4.

    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 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: (15,747) Semiannual and annual value levels are 14,724 and 12,696 with a daily pivot at 15,714, the Nov. 6 all-time high at 15,750.29, and weekly, monthly, semiannual and quarterly risky levels at 15,877, 16,162, 16,490 and 16,775.

    S&P 500 - (1769.9) Semiannual and annual value levels are 1606.9, 1400.7 and 1348.3 with a semiannual and daily pivots at 1743.5 and 1771.9, the Oct. 30 all time high at 1775.22, and weekly, monthly and quarterly risky levels at 1791.3, 1802.0 and 1853.8.

    NASDAQ - (3932) Semiannual and annual value levels are 3759, 3668 and 2806 with a daily pivot at 3924, 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 a daily pivot at 3385, the Oct. 30 multi-year high at 3408.67, and monthly, weekly and quarterly risky levels at 3425, 3446 and 3477.

    Dow Transports - (7041) Annual value levels are 5925 and 5469 with monthly, semiannual and daily pivots at 6927, 7104 and 7085, the Nov. 4 all time high at 7131.80, and weekly and quarterly risky levels at 7186 and 7205.

    Russell 2000 - (1098.83) Daily, semiannual and annual value levels are 1094.03, 1089.42, 860.25 and 809.54 with 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 - (504.91) 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 512.54, 519.72, 520.64, 514.87 and 533.56.

    Dow Utilities: (508.28) Daily and semiannual value levels are 502.72 and 481.92 with 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.

    Stocks: TLT, GLD, XLE, DIA, QQQ, SPY
Back To Richard Suttmeier's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.