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Richard Suttmeier
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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 In The Stock Market, But Not For The Dow Industrial Average! 0 comments
    Jan 15, 2014 6:31 PM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    A series of new all-time or multiyear highs were set on Wednesday except for Dow Industrials. The S&P 500 set its new all-time multiyear high at 1850.84 as my monthly pivot at 1847.0 proved to be a magnet. The multiyear intraday high for the Nasdaq is 4218.79 shy of monthly and semiannual risky levels at 4267 and 4274. Dow Transports set a new all-time intraday high at 7508.74. The Russell 2000 set its new all-time intraday high at 1171.96 shy of semiannual and monthly risky levels at 1180.35 and 1200.55. The Nasdaq 100 and SOX set new multiyear intraday highs at 3615.70 and 545.75.

    US Treasury yields rose as my quarterly pivot at 3.801% on the 30-Year bond remains a magnet. Comex gold slipped slightly as Nymex crude oil moved back above my quarterly pivot at $93.35. The dollar rebounded as the euro is between my quarterly and monthly pivots at 1.3482 and 1.3658.

    US Treasury Yields - The yield on the US Treasury 10-Year note (2.893%) is between its 50-day SMA at 2.828% and its 21-day SMA at 2.933%. The weekly chart will favor lower yields given a close this week below its five-week MMA at 2.869% with the 200-week SMA at 2.461% with my quarterly risky level at 2.628%. The yield on the US Treasury 30-Year bond (3.822%) remains below its 21-day and 50-day SMAs at 3.879% and 3.850% as my quarterly pivot at 3.801% remains a magnet. The weekly chart will favor lower yields given a close this week below its five-week MMA at 3.843% with the 200-week SMA at 3.578%.

    Comex gold - ($1238.3) has a positive but overbought daily chart with the 21-day SMA at $1224.3, the 50-day SMA at $1245.2 and the 200-day SMA at 1331.6. The weekly chart needs a weekly close above its five-week MMA at $1244.5 to stay positive. My weekly value level is $1177.9 with my quarterly risky level at $1385.0.

    Nymex crude oil - ($94.17) has a negative but oversold daily chart with the 50-day SMA at $95.46 and last week's low at $91.24 as my quarterly pivot at $93.35 proves to be a magnet. The weekly chart is negative with the five-week MMA at $95.88 and the 200-week SMA at $92.53 as this average continues to be a magnet since mid-2009.

    The euro vs. the dollar - (1.3604) has a neutral daily chart with its 21-day SMA at 1.3671, the 50-day SMA at 1.3615 and the 200-day SMA at 1.3343. The weekly chart shifts to negative give a weekly close below its five-week MMA at 1.3628 with its 200-week SMA at 1.3311. My annual, quarterly and monthly pivots are 1.3382, 1.3482 and 1.3658 with a weekly risky level at 1.3816.

    The Dow Industrial Average - (16,482) has a neutral daily with its 21-day SMA at 16,350. The weekly chart is positive but overbought with the five-week MMA at 16,224. My semiannual value level is 16,245 with monthly and weekly pivots at 16,327 and 16,476 and quarterly and semiannual risky levels at 16,761 and 16,860. My annual value levels lag at 14,835 and 13,467.

    The S&P 500 - (1848.4) has a neutral daily chart with its 21-day SMA at 1828.2. The weekly chart is positive but overbought with the five-week MMA at 1817.5. My semiannual value levels are 1797.3 and 1764.4 with weekly and monthly pivots at 1838.9 and 1847.0 and quarterly risky level at 1896.0. My annual value levels lag at 1539.1 and 1442.1.

    The Nasdaq - (4215) has a neutral daily chart with its 21-day SMA at 4133. The weekly chart is positive but overbought with the five-week MMA at 4100. My semiannual value levels are 3930 and 3920 with a weekly pivot at 4205 and monthly and quarterly risky levels at 4267 and 4274. My annual value levels lag at 3471 and 3063.

    The Dow Transportation Average - (7504) has a positive daily chart with its 21-day SMA at 7336. The weekly chart is positive but overbought with the five-week MMA at 7288. My quarterly value level is 7086 with semiannual, monthly and weekly pivots at 7245, 7376, 7327 and 7370. My annual value levels lag at 6249 and 5935. .

    The Russell 2000 - (1171.35) has a positive daily chart with its 21-day SMA at 1151.72. The weekly chart is positive but overbought with the five-week MMA at 1145.21. My semiannual value levels are 1133.29 and 1130.79 with weekly, quarterly and monthly risky levels at 1172.45, 1180.35 and 1200.55. My annual value levels lag at 966.72 and 879.39.

    Nasdaq 100 (NDX) - (3610) has a positive daily chart with its 21-day SMA at 3549. The weekly chart is positive but overbought with the five-week MMA at 3517. My semiannual value levels are 3458 and 3456 with a weekly pivot at 3610 vs. a new high at 3613.27. Monthly and quarterly risky levels are 3629 and 3714. My annual value levels lag at 3078 and 2669.

    The SOX - (544.21) has a positive daily chart with its 21-day SMA at 528.08. The weekly chart is positive but overbought with the five-week MMA at 524.02 with the new high at 544.56. My semiannual value level is 490.52 with weekly and quarterly pivots at 531.54 and 536.98 and monthly and semiannual risky levels at 544.70 and 548.36. My annual value levels lag at 371.58 and 337.74.

    Dow Utilities - (489.89) has a neutral daily chart with its 21-day SMA at 487.04. The 50-day at 490.95 and the 200-day SMAs at 495.19 were tested last week. The weekly chart shifts to positive given a weekly close above its five-week MMA at 489.56. Weekly and monthly value levels are 469.97 and 440.53 with quarterly and annual pivots at 496.84 and 497.53 and semiannual and annual risky levels at 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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