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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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  • The Russell 2000 Eked Out A New All-Time Intraday High At 1173.37 On Fri.  0 comments
    Jan 18, 2014 10:27 AM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    Four of the five major equity averages set new all-time or multiyear intraday highs last week at 1850.84 S&P 500, 4219.28 Nasdaq, 7508.74 Dow Transports and 1173.37 Russell 2000. Dow Industrials set its all-time intraday high at 16,588.25 on Dec. 31.

    So far this year weakness has held my semiannual value levels at 16,245 Dow industrials and 7245 Dow Transports, while the high end of the range has been my monthly pivot at 1847 S&P 500. Pivots in-between are my monthly pivot at 16,327 Dow Industrials and monthly and annual pivots at 7327 / 7376 Dow Transports.

    If the value levels fail to hold my semiannual or quarterly value levels are 1797.3 / 1764.4 S&P 500, 3930 / 3920 Nasdaq, 7086 Dow Transports and 1133.29 / 1130.79 Russell 2000. Above are quarterly and semiannual risky levels at 16,761 / 16,860 Dow Industrials, 1896 S&P 500, 4274 Nasdaq and 1180.35 Russell 2000.

    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 / 879.39 Russell 2000.

    Snaking through these levels are weekly pivots / risky levels at 16,465 Dow industrials, 1839 S&P 500, 4250 Nasdaq, 7424 Dow Transports and 1174.31 Russell 2000.

    US Treasury Yields - The yield on the US Treasury 10-Year note (2.819%) ended the week below its 50-day SMA at 2.837 and its 21-day SMA at 2.930%. The weekly chart favors lower yields by closing below its five-week MMA at 2.854% 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 (3.748%) remains below its 21-day and 50-day SMAs at 3.867% and 3.852% and is below my quarterly pivot at 3.801%. The weekly chart favors lower by closing below its five-week MMA at 3.827% with the 200-week SMA at 3.578%.

    Comex Gold - ($1251.9) has a positive but overbought daily chart with the 21-day, 50-day and 200-day SMAs at $1225.0, $1242.6 and $1328.6. The weekly chart is positive with the 5-week MMA at $1246.8 and my quarterly risky level at $1385.0.

    Nymex Crude Oil - ($94.37) has a neutral daily chart with the 21-day, 50-day and 200-day SMAs at $95.82, $95.46 and $98.93. The weekly chart is negative with the five-week MMA at $95.90 and the 200-week SMA at $92.53 as my quarterly pivot at $93.35 remains a magnet.

    The Euro - (1.3539) has a negative daily chart with the 200-day SMA at 1.3348 and 50-day SMA at 1.3626. The weekly chart is negative with the five-week MMA at 1.3616 and 200-week SMA at 1.3311.

    Daily Dow: (16,459) has a positive daily chart with the 21-day, 50-day and 200-day SMAs at 16,403, 16,115 and 15,408. The weekly chart is positive but overbought with the five-week MMA at 16,220. My monthly, semiannual and annual value levels are 16,327, 16,245, 14,835 and 13,467 with 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 - (1838.7) has a positive daily chart with the 21-day, 50-day and 200-day SMAs at 1833.8, 1807.6 and 1695.9. The weekly chart is positive but overbought with the five-week MMA at 1815.7. My semiannual and annual value levels are 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 quarterly risky level at 1896.0.

    NASDAQ - (4197) has a positive but overbought daily chart with the 21-day, 50-day and 200-day SMAs at 4150, 4058 and 3694. The weekly chart is positive but overbought with the five-week MMA at 4097. My semiannual and annual value levels are 3930, 3920, 3471 and 3063 with the Jan. 16 multiyear intraday high at 4219.28 and monthly and quarterly risky levels at 4267 and 4274.

    NASDAQ 100 (NDX) - (3591) has a positive daily chart with the 21-day, 50-day and 200-day SMAs at 3561, 3488 and 3171. The weekly chart is positive but overbought with the five-week MMA at 3514. My semiannual and annual value levels are 3458, 3456, 3078 and 2669 with the Jan. 15 multiyear intraday high at 3615.70 and monthly and quarterly risky levels at 3629 and 3714.

    Dow Transports - (7427) has a positive but overbought daily chart with the 21-day, 50-day and 200-day SMAs at 7348, 7230 and 6632. The weekly chart is positive but overbought with the five-week MMA at 7279. My semiannual, monthly, quarterly and annual value levels are 7376, 7245, 7327, 7086, 6249 and 5935 with the Jan.15 all-time intraday high at 7508.74.

    Russell 2000 - (1168.43) has a positive but overbought daily chart with the 21-day, 50-day and 200-day SMAs at 1156.62, 1132.68 and 1047.62. The weekly chart is positive but overbought with the five-week MMA at 1144.98. My semiannual and annual value levels are 1133.29, 1130.79, 966.72 and 879.39 with the Jan. 17 all-time intraday high at 1173.37, and quarterly and monthly risky levels at 1180.35 and 1200.55.

    The SOX - (538.14) has a positive daily chart with the 21-day, 50-day and 200-day SMAs at 530.46, 516.88 and 483.15. The weekly chart is positive but overbought with the five-week MMA at 522.84. My quarterly, semiannual and annual value levels are 536.98, 490.52, 371.58 and 337.74 with the Jan. 15 multiyear intraday high at 545.75, and monthly and semiannual risky levels at 544.70 and 548.36.

    Dow Utilities - (492.70) has a positive daily chart with the 21-day, 50-day and 200-day SMAs at 487.74, 490.50 and 495.01. The weekly chart profile is positive with the five-week MMA at 590.04. My monthly value level is 440.53 with quarterly, annual, semiannual and annual risky levels at 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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