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Richard Suttmeier
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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
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  • The Nasdaq And Russell 2000 Set New Multiyear And All-Time Highs. 0 comments
    Jan 16, 2014 5:51 PM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    The Nasdaq sets a new multi-year intraday high at 4219.28 on Thursday vs. my monthly and quarterly risky levels at 4267 and 4274. The Russell 2000 set a new all-time high at 1173.13 vs. quarterly and monthly risky levels at 1180.35 and 1200.55. The S&P 500 ended the day back below its monthly pivot at 1847.0.

    US Treasury yields rose as my quarterly pivot at 3.801% on the 30-Year bond continues as a magnet. Comex gold moved slightly higher as Nymex crude oil stays 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 (2.843%) is between its 50-day SMA at 2.824% and its 21-day SMA at 2.931%. The weekly chart will favor lower yields given a close this week below its five-week MMA at 2.858% with the 200-week SMA at 2.460% with my quarterly risky level at 2.628%. The yield on the US Treasury 30-Year bond (3.773%) remains below its 21-day and 50-day SMAs at 3.873% and 3.851% 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 3.832% with the 200-week SMA at 3.578%.

    Comex Gold - ($1242.2) Weekly and monthly value levels are $1177.9 and $1112.1 with a daily pivot at $1240.6 and quarterly and annual risky levels at $1385.0, $1710.6, $1747.4, $1818.8 and $1857.1.

    Nymex Crude Oil - ($94.12) My daily value level is $92.57 with a quarterly pivot at $93.35 and weekly, monthly, semiannual and annual risky levels at $97.64, $104.80, $104.97 and $107.52.

    The Euro - (1.3618) Quarterly, annual and semiannual value levels are 1.3482, 1.3382, 1.2642 and 1.2216 with monthly and daily pivots at 1.3658 and 1.3622 and weekly and annual risky levels at 1.3816 and 1.5512.

    The Dollar versus Japanese Yen - (104.31) Annual and semiannual value levels are 93.38, 85.57, 79.46 and 75.49 with monthly and daily pivots at 103.76 and 104.37 and weekly and quarterly risky levels at 106.87 and 107.46.

    The British Pound - (1.6354) Annual and monthly value levels are 1.6262 and 1.6201 with daily and quarterly pivots at 1.6423 and 6415, and weekly risky level at 1.6632.

    Daily Dow: (16,417) Monthly, semiannual and annual value levels are 16,327, 16,245, 14,835 and 13,467 with daily and weekly pivots at 16,425 and 16,476, the Dec. 31 all-time intraday high at 16,588.25 and quarterly and semiannual risky levels at 16,761 and 16,860.

    S&P 500 - (1845.9) Weekly, semiannual and annual value levels are 1838.8, 1797.3, 1764.4, 1539.1 and 1442.1 with my monthly pivot at 1847.0, the Jan. 15 all-time intraday high at 1850.84, and daily and quarterly risky levels at 1851.9 and 1896.0.

    NASDAQ - (4219) Semiannual and annual value levels are 4199, 3930, 3920, 3471 and 3063 with a weekly pivot at 4205, the Jan. 16 multiyear intraday high at 4219.28 and daily, monthly and quarterly risky levels at 4241, 4267 and 4274.

    NASDAQ 100 (NDX) - (3611) Semiannual and annual value levels are 3458, 3456, 3078 and 2669 with a weekly pivot at 3610, the Jan. 15 multiyear intraday high at 3615.70 and daily, monthly and quarterly risky levels at 3622, 3629 and 3714.

    Dow Transports - (7457) Semiannual, weekly, monthly, quarterly and annual value levels are 7376, 7245, 7370, 7327, 7086, 6249 and 5935 with the Jan.15 all-time intraday high at 7508.74 and a daily risky level at 7583.

    Russell 2000 - (1173.12) Semiannual and annual value levels are 1163.75, 1133.29, 1130.79, 966.72 and 879.39 with the Jan. 16 all-time intraday high at 1173.13, and daily, quarterly and monthly risky levels at 1178.85, 1180.35 and 1200.55.

    The SOX - (541.05) Quarterly, weekly, weekly, semiannual and annual value levels are 536.98, 531.54, 490.52, 371.58 and 337.74 with a monthly pivot at 544.70, the Jan. 15 multiyear intraday high at 545.75, and daily and semiannual risky levels at 547.78 and 548.36.

    Dow Utilities: (492.70) Weekly and monthly value levels are 469.97 and 440.53 with daily, quarterly, annual, semiannual and annual risky levels at 496.83, 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.

    Stocks: TLT, GLD, XLE, DIA, QQQ, SPY
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