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New Highs For Nasdaq, Transports & Russell 2000, Not Industrials Or S&P.

|Includes:DIA, GLD, QQQ, SPY, iShares 20+ Year Treasury Bond ETF (TLT), XLE

Three of the five major equity averages set new all-time or multiyear intraday highs on Tuesday at 4227.93 Nasdaq, 7516.49 Dow Transports and 1177.11 Russell 2000.

Risky levels still loom on strength: quarterly and semiannual at 16,761 / 16,860 Dow Industrials, quarterly at 1896 S&P 500, quarterly at 4274 Nasdaq and quarterly at 1180.35 Russell 2000.

So far key levels have held to the downside: semiannual value level at 16,245 Dow Industrials on Jan. 14 and 7245 Dow Transports on Jan. 6 as a semiannual pivot was a magnet. On Tuesday Dow Industrials held its monthly pivot at 16,327, after the S&P 500 could not stay above its monthly pivot at 1847.0.

Below are semiannual value levels at 1797.2 / 1764.4 S&P 500, 3930 / 3920 Nasdaq and 1133.29 / 1130.79 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 and 879.39 Russell 2000.

US Treasury Yields - The yield on the US Treasury 10-Year note (2.828%) is on the cusp of its 50-day SMA at 2.840% with its 21-day SMA at 2.927% with a quarterly risky level at 2.628%. The weekly chart favors lower yields with its five-week MMA at 2.850% and the 200-week SMA at 2.455%. The yield on the US Treasury 30-Year bond (3.746%) remains below its 21-day and 50-day SMAs at 3.859% and 3.852% and is below my quarterly pivot at 3.801% with the 200-day SMA at 3.57%. The weekly chart favors lower with its five-week MMA at 3.812% and 200-week SMA at 3.573%.

Comex Gold - ($1241.8) has a positive but overbought daily chart with the 21-day, 50-day and 200-day SMAs at $1225.2, $1239.7 and $1326.9. The weekly chart stays positive with a weekly close above the 5-week MMA at $1245.5 and my quarterly risky level at $1385.0.

Nymex Crude Oil - ($94.37) will have a positive daily chart given a close above the 21-day and 50-day SMAs at $95.67 and $95.46 with the 200-day SMA at $98.94. The weekly chart stays negative with a weekly close below the five-week MMA at $95.77 with the 200-week SMA at $92.61. My quarterly pivot at $93.35 should remain a magnet.

The Euro - (1.3539) has a negative daily chart with the 21-day, 50-day and 200-day SMAs at 1.3650, 1.3631 and 1.3355. The weekly chart is negative with the five-week MMA at 1.3601 and 200-week SMA at 1.3311.

Daily Dow: (16,414) shifts to negative daily chart with a close below its 21-day SMA at 16,414 with its 50-day and 200-day SMAs at 16,129 and 15,417. The weekly chart is positive but overbought with the five-week MMA at 16,259 and the 200-week SMA at 12,865. 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 - (1843.8) has a positive daily chart given a close above the 21-day SMA at 1835.3 with the 50-day and 200-day SMAs at 1809.0 and 1697.4. The weekly chart is positive but overbought with the five-week MMA at 1821.3 and the 200-week SMA at 1382.3. 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 - (4226) has a positive but overbought daily chart with the 21-day, 50-day and 200-day SMAs at 4158, 4064 and 3699. The weekly chart is positive but overbought with the five-week MMA at 4123 and the 200-week SMA at 2947. My semiannual and annual value levels are 3930, 3920, 3471 and 3063 with the Jan. 21 multiyear intraday high at 4227.93 and monthly and quarterly risky levels at 4267 and 4274.

NASDAQ 100 (NDX) - (3618) has a positive daily chart with the 21-day, 50-day and 200-day SMAs at 3566, 3493 and 3175. The weekly chart is positive but overbought with the five-week MMA at 3534 and the 200-week SMA at 2543. My semiannual and annual value levels are 3458, 3456, 3078 and 2669 with the Jan. 21 multiyear intraday high at 3617.70 and monthly and quarterly risky levels at 3629 and 3714.

Dow Transports - (7470) has a positive but overbought daily chart with the 21-day, 50-day and 200-day SMAs at 7361, 7238 and 6639. The weekly chart is positive but overbought with the five-week MMA at 7317 and the 200-week SMA at 5365. My semiannual, monthly, quarterly and annual value levels are 7376, 7245, 7327, 7086, 6249 and 5935 with the Jan.21 all-time intraday high at 7516.49.

Russell 2000 - (1175.72) has a positive but overbought daily chart with the 21-day, 50-day and 200-day SMAs at 1158.62, 1134.23 and 1048.88. The weekly chart is positive but overbought with the five-week MMA at 1151.13 and the 200-week SMA at 832.88. My semiannual and annual value levels are 1133.29, 1130.79, 966.72 and 879.39 with the Jan. 21 all-time intraday high at 1177.11, and quarterly and monthly risky levels at 1180.35 and 1200.55.

The SOX - (538.14) has a neutral daily chart with the 21-day, 50-day and 200-day SMAs at 531.43, 517.61 and 483.76. The weekly chart is positive but overbought with the five-week MMA at 526.57 and the 200-week SMA at 410.93. 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 - (498.21) has a positive daily chart with the 21-day, 50-day and 200-day SMAs at 488.28, 490.30 and 494.93. The weekly chart is positive with the five-week MMA at 591.67 with the 200-week SMA at 447.60. My monthly value level is 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.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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