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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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  • Dow Transports Ended The Week At Its Monthly Pivot At 7327. 0 comments
    Jan 4, 2014 4:14 PM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    The yield on the US Treasury 10-Year note begins the first full week of 2014 influenced by a weekly pivot at 2.99% above its 21-day SMA at 2.91% with overbought daily momentum. The yield on the US Treasury 30-Year bond is above its 21-day SMA at 3.896 with a weekly pivot at 3.894%. The weekly charts favor higher 10-Year and 30-Year yields given weekly closes above their five-week MMA at 2.864% and 3.859% as the rise in yield on the 10-Year is now overdone on its weekly chart.

    10-Year Note - (2.993) Daily, monthly and semiannual value levels are 3.090, 3.653 with a weekly pivot at 2.990 and quarterly, annual and semiannual risky levels at 2.628, 2.263, 1.837 and 1.779.

    30-Year Bond - (3.927) Daily and monthly value levels are 4.009 and 4.505 with a weekly pivot at 3.894 and quarterly, annual and semiannual risky levels at 3.801, 3.283, 3.114, 3.107 and 2.624.

    Comex gold has a positive daily chart with the 21-day SMA at $1224.9 and the 50-day SMA at $1261.5. The weekly chart is negative but oversold with its five-week MMA at $1245.2.

    Crude oil has a negative daily chart with the 21-day, 50-day and 200-day SMAs at $97.97, $96.16 and $99.05 after testing $100.75 on Dec. 27. The weekly chart is neutral with the five-week MMA at $97.46 and the 200-week SMA at $92.41, which was tested on Nov. 27.

    The euro vs. the dollar has a negative daily chart with its 21-day, 50-day and 200-day SMAs at 1.3717, 1.3614 and 1.3312 after a 2013 high at 1.3892 set on Dec. 27. The weekly chart stays negative with a close below its five-week MMA at 1.3627 with the 200-week SMA at 1.3311 as key support.

    Comex Gold - ($1236.6) Weekly and monthly value levels are $1186.2 and $1112.1 with a daily pivot at $1224.3 and quarterly and annual risky levels at $1385.0, $1710.6, $1747.4, $1818.8 and $1857.1.

    Nymex Crude Oil - ($94.21) My quarterly value level is $93.35 with daily, weekly, monthly, semiannual and annual risky levels at $96.24, $97.46, $104.80, $104.97 and $107.52.

    The Euro - (1.3585) Quarterly, annual and semiannual value levels are 1.3482, 1.3381, 1.2642 and 1.2216 with a monthly pivot at 1.3658 and daily, weekly and annual risky levels at 1.3703, 1.3886 and 1.5512.

    Daily Charts Are Positive / Overbought: Dow Industrials is above 21-day, 50-day and 200-day SMAs at 16,143, 15,945 and 15,313. The S&P 500 is above 21-day, 50-day and 200-day SMAs at 1810.9, 1792.2 and 1682.0. The Nasdaq is above 21-day, 50-day and 200-day SMAs at 4085, 4011 and 3648. The Dow Transports is above 21-day, 50-day and 200-day SMAs at 7229, 7159 and 6569. The Russell 2000 is above 21-day, 50-day and 200-day SMAs at 1135.94, 1122.50 and 1036.59.

    Weekly Charts Are Positive / Overbought: Dow Industrials are positive / overbought with five-week MMA at 16,090 and 200-week SMA at 12,780 with a momentum (12x3x3 weekly slow stochastic) reading at 90.39. The S&P 500 is positive / overbought with five-week MMA at 1801.9 and 200-week SMA at 1372.0 with momentum at 92.69. The Nasdaq is positive / overbought with five-week MMA at 4047 and 200-week SMA at 2920 with momentum at 93.88. Dow Transports is positive / overbought with five-week MMA at 7186 and 200-week SMA at 5319 with momentum at 91.75. The Russell 2000 is positive / overbought with five-week at 1133.76 and 200-week at 825.49 and momentum at 88.85.

    The S&P 500 is below my monthly pivot at 1847.0 with Transports straddling monthly and semiannual pivots at 7327, 7376 and 7245 closing Friday at 7327. My monthly value level is 16,327 Industrials with pivots at 1847.0 S&P and 7327 Transports and risky levels at 4267 Nasdaq and 1200.55 Russell 2000. Weekly risky levels are 16,578 Industrials, 1854.2 S&P 500, 4220 Nasdaq, 7476 Transports and 1176.06 Russell 2000. My quarterly value level is 7086 Transports with quarterly risky levels at 16,761 Industrials, 1896.0 S&P 500, 4274 Nasdaq and 1180.35 Russell 2000. Semiannual value levels are 16,245 Industrials, 1797.3 / 1764.4 S&P 500, 3930 / 3920 Nasdaq, 7245 Transports and 1133.29 / 1130.79 Russell 2000 with a semiannual pivot at 7373 Transports and a semiannual risky level at 16,860 Industrials. Annual value levels are 14,835 / 13,467 Dow Industrials, 1539.1 / 1442.1 S&P 500, 3471 / 3063 Nasdaq, 6249 / 5935 Dow Transports and 966.72 and 879.39 Russell 2000.

    Daily Dow: (16,470) Monthly, semiannual and annual value levels are 16,327, 16,245, 14,835 and 13,467 with the Dec. 31 all-time intra-day high at 16,588.25, and weekly, daily, quarterly and semiannual risky levels at 16,578, 16,684, 16,761 and 16,860.

    S&P 500 - (1831.4) Semiannual and annual value levels are 1797.3, 1764.4, 1539.1 and 1442.1 with a monthly pivot at 1847.0, the Dec.31 all-time intra-day high at 1849.44, and weekly, daily and quarterly risky levels at 1854.2, 1854.8, 1860.7 and 1896.0.

    NASDAQ - (4132) Semiannual and annual value levels are 3930, 3920, 3471 and 3063 with the Dec. 31 multi-year intra-day high at 4177.73 and daily, weekly, monthly and quarterly risky levels at 4199, 4220, 4267 and 4274.

    NASDAQ 100 (NDX) - (3539) Semiannual and annual value levels are 3458, 3456, 3078 and 2669 with the Dec. 31 multi-year intra-day high at 3592.00 and daily, weekly, monthly and quarterly risky levels at 3603, 3628, 3629 and 3714.

    Dow Transports - (7327) Quarterly and annual value levels are 7086, 6249 and 5935 with semiannual and monthly pivots at 7245, 7376 and 7327, the Dec. 31 all-time intra-day high at 7410.25, and daily and weekly risky levels at 7398 and 7476.

    Russell 2000 - (1156.09) Semiannual and annual value levels are 1133.29, 1130.79, 966.72 and 879.39 with the Dec. 26 all time intra-day high at 1167.96, and daily, weekly, quarterly and monthly risky levels at 1171.28, 1176.06, 1180.35 and 1200.55.

    The SOX - (526.68) Semiannual and annual value levels are 490.52, 371.58 and 337.74 with the Dec. 31 multi-year intra-day high at 535.79, and weekly, daily, monthly and semiannual risky levels at 532.43, 536.24, 536.98, 544.70 and 548.36.

    Dow Utilities: (481.40) Weekly and monthly value levels are 474.55 and 440.53 with daily, quarterly, annual, semiannual and annual risky levels at 484.23, 496.84, 497.53, 504.74, 524.37 and 548.70.

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

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