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...
  • New Highs Again On Friday But Not For The Russell 2000! 0 comments
    Dec 28, 2013 3:29 AM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    The yield on the US Treasury 10-Year note reached a new multi-year intra-day high at 3.02% on Friday and the daily chart shows that the rise in yield is overdone with the 21-day SMA at 2.866%. The yield on the US Treasury 30-Year bond rose to 3.95% on Friday its 2013 high yield at 3.98% set on Dec. 6 with its 21-day SMA at 3.878. The weekly charts favor higher 10-Year and 30-Year yields given weekly closes above their five-week MMA at 2.827% and 3.838%.

    10-Year Note - (3.006) Weekly, monthly and semiannual value levels are 3.068, 3.117 and 3.227 with a daily pivot at 3.002 and annual and quarterly risky levels at 2.476 and 2.252.

    30-Year Bond - (3.939) Weekly, and monthly and semiannual value levels are 4.038, 4.006 and 4.807 with daily, quarterly and annual risky levels at 3.891, 3.487 and 3.014.

    Comex gold has a neutral daily chart with the 21-day SMA at $1227.9 and the June 28 low at $1179.4. The weekly chart is negative but oversold with its five-week MMA at $1247.0.

    Crude oil has a positive but overbought daily chart with the 21-day, 50-day and 200-day SMAs at $97.31, $96.38 and $98.97. The weekly chart is positive with the five-week MMA at $98.00 and the 200-week SMA at $92.34.

    The euro vs. the dollar has a neutral daily chart with its 21-day, 50-day and 200-day SMAs at 1.3691, 1.3621 and 1.3294. The weekly chart is positive with its five-week MMA at 1.3642 and the 200-week SMA at 1.3311.

    Comex Gold - ($1213.7) Daily, weekly and monthly value levels are $1177.1, $1164.6 and $1062.1 with quarterly and annual risky levels at $1435.6, $1599.9 and $1852.1.

    Nymex Crude Oil - ($100.18) Weekly and monthly value levels are $98.54 and $98.21 with daily, semiannual, quarterly and annual risky levels at $100.67, $109.84, $114.36 and $115.23.

    The Euro - (1.3740) Annual and quarterly value levels are 1.3257, 1.2805 and 1.2477 with daily and weekly pivots at 1.3643 and 1.3751 and monthly and annual risky levels at 1.3840 and 1.4295.

    Daily Charts Are Positive / Overbought: The Dow Industrial Average is above its 21-day, 50-day and 200-day SMAs at 16,053, 15,858 and 15,273. The S&P 500 is above its 21-day, 50-day and 200-day SMAs at 1804.2, 1784.7 and 1676.4. The Nasdaq is above its 21-day, 50-day and 200-day SMAs at 4065, 3991 and 3630. The Dow Transportation Average is above its 21-day, 50-day and 200-day SMAs at 7208, 7118 and 6547. The Russell 2000 is above its 21-day, 50-day and 200-day SMAs at 1131.39, 1118.75 and 1032.40.

    Weekly Charts Are Positive / Overbought: Dow Industrials remains positive / overbought with its five-week MMA at 15,997 and its 200-week SMA at 12,750. The S&P 500 is positive / overbought with its five-week MMA at 1794.6 and its 200-week SMA at 1368.6. The Nasdaq is positive / overbought with its five-week MMA at 4027 and its 200-week SMA at 2911. Dow Transports is positive / overbought with its five-week MMA at 7150 and its 200-week SMA at 5303. The Russell 2000 is positive / overbought with its five-week MMA at 1126.59 and its 200-week SMA at 823.03.

    Friday's New Highs: Dow Industrials set another new all-time intra-day high at 16,529.01 between my semiannual and quarterly risky levels at 16,490 and 16,775. The S&P 500 new high is 1844.89 still shy of my quarterly risky level at 1853.8. The Nasdaq new multi-year intra-day high is 4175.36. The Dow Transports new high is 7373.57. The Russell 2000 new high is 1167.96 was set on Thursday vs. its quarterly pivot at 1163.21. This week's risky levels are 16,568 Dow Industrials, 1851.9 S&P 500, 4175 Nasdaq, 7383 Dow Transports and 1169.00 Russell 2000. Monthly, semiannual and quarterly value levels are 16,093 Dow Industrials, 1810.2 / 1743.5 S&P 500, 4114 / 4025 / 3759 Nasdaq, 7205 / 7104 / 6941 Dow Transports and 1143.82 / 1089.42 Russell 2000. Semiannual and quarterly pivots / risky levels are 16,490 / 16,775 Dow Industrials, 1853.8 S&P 500 and 1163.21 Russell 2000. My annual value levels at 12,696 Dow Industrials, 1348.3 S&P 500, 2806 Nasdaq, 5469 Dow Transports, and 809.54 Russell 2000.

    Daily Dow: (16,478) Monthly and annual value levels are 16,093 and 12,696 with a semiannual pivot at 16,490, the Dec. 27 all-time intra-day high at 16,529.01, and weekly, daily and quarterly risky levels at 16,568, 16,678 and 16,775.

    S&P 500 - (1841.4) Monthly, semiannual and annual value levels are 1810.2, 1743.5 and 1348.3 with the Dec.27 all-time intra-day high at 1844.89, and weekly, daily and quarterly risky levels at 1851.9, 1859.2 and 1853.8.

    NASDAQ - (4157) Monthly, quarterly, semiannual and annual value levels are 4114, 4025, 3759, 3668 and 2806 with the Dec. 27 multi-year intra-day high at 4175.36 and weekly and daily risky levels at 4175 and 4202.

    NASDAQ 100 (NDX) - (3574) Monthly, quarterly, semiannual and annual value levels are 3518, 3477, 3304 and 2463 with the Dec. 27 multi-year intra-day high at 3591.31 and weekly and daily risky levels at 3585 and 3609.

    Dow Transports - (7352) Quarterly, semiannual, monthly and annual value levels are 7205, 7104, 6941, 5925 and 5469 with the Dec. 27 all-time intra-day high at 7373.57, and weekly and daily risky levels at 7383 and 7412.

    Russell 2000 - (1161.09) Semiannual and annual value levels are 1089.42, 860.25 and 809.54 with monthly and quarterly pivots at 1143.82 and 1163.21, the Dec. 26 all time intra-day high at 1167.96, and weekly and daily risky levels at 1169.00 and 1175.33.

    The SOX - (529.96) Weekly, quarterly and annual value levels are 523.03, 514.87 and 338.03 with a monthly pivot at 526.74, the Dec. 27 multi-year intra-day high at 531.59, and semiannual and daily risky levels at 533.56 and 537.38.

    Dow Utilities: (487.94) Weekly, monthly and semiannual pivots are 478.49, 479.08 and 481.92 with daily, quarterly, semiannual and annual risky levels at 492.11, 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.