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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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  • Choppy Trendless Trading Continues Around My Pivots.  0 comments
    Feb 12, 2014 6:33 PM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    The major equity averages straddle five-week modified moving averages at 16,007 Dow industrials, 1803.7 S&P 500, 4110 Nasdaq, 7273 Dow Transports and 1137.41 Russell 2000.

    The major averages straddle key semiannual levels at 16,245 Dow Industrials, 1764.4 S&P 500, 3920 Nasdaq, 7245 Dow Transports and 1133.29 Russell 2000.

    A quarterly pivot is 7086 Dow Transports with quarterly risky levels at 16,761 Dow industrials, 1896.0 S&P 500, 4274 Nasdaq and 1180.35 Russell 2000. Dow Industrials tested its monthly risky level at 15,986 while the others did not at 1832.9 S&P 500, 4267 Nasdaq, 7412 Dow Transports and 1189.18 Russell 2000.

    My 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.

    US Treasury Yields - The yield on the US Treasury 10-Year note (2.762%) set a 2014 low at 2.570% on Feb. 3 and now straddles its 21-day and 50-day SMAs at 2.742% and 2.836% with a quarterly pivot at 2.628% and the 200-day SMA at 2.580%. The weekly chart still favors lower yields with its five-week MMA at 2.773% and the 200-week at 2.442%. The yield on the US Treasury 30-Year bond (3.721%) set a 2014 low at 3.525% on Feb. 3 and is between its 21-day and 50-day SMAs at 3.685% and 3.801% with the 200-day SMA at 3.631%. The weekly chart still favors lower with its five-week MMA at 3.740% and 200-week at 3.561%.

    Comex Gold - ($1295.0) traded as high as $1296.4 on Wednesday above its 21-day and 50-day SMAs at $1256.6 and $1239.5 with the 200-day SMA at $1311.0. The weekly chart is positive with its 5-week MMA at $1251.3 and the 200-week SMA at $1,488.8.

    Nymex Crude Oil - ($99.82) moved above its 200-day at $99.51 on commodity speculation. The weekly chart is positive with five-week MMA and 200-week SMA at $97.04 and $92.75.

    The Euro - (1.3664) has a positive daily chart with the 21-day, 50-day and 200-day SMAs at 1.3594, 1.3652 and 1.3398. The weekly chart is neutral with five-week at 1.3606 and 200-week at 1.3312.

    Daily Dow: (15,964) is above its 200-day SMA at 15,506 and on the cusp of its 21-day at 15,957 below the 50-day 16,091. The weekly chart stays negative with a close this week below its five-week MMA at 16,007 and the 200-week at 12,910. My annual value levels are 14,835 and 13,467 with monthly pivot at 15,986, a semiannual risky level at 16,245, 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 - (1819.3) is above its 21-day, 50-day and 200-day SMAs at 1802.9, 1809.8 and 1714.8. The weekly chart shifts to neutral with a close this week above its the five-week MMA at 1803.4 with the 200-week at 1388.1. Annual value levels are 1539.1 and 1442.1 with semiannual pivots at 1764.4 and 1797.3, my monthly risky level at 1832.9, the Jan. 15 all-time intraday high at 1850.84, and quarterly risky level at 1896.0.

    NASDAQ - (4201) is above its 21-day, 50-day and 200-day SMAs at 4136 and 4112 with the 200-day SMA at 3768. The weekly chart stays neutral with a close this week above its five-week MMA at 4110. My semiannual and annual value levels are 3930, 3920, 3471 and 3063 with the Jan. 22 multiyear intraday high at 4246.55 and monthly and quarterly risky levels at 4267 and 4274.

    NASDAQ 100 (NDX) - (3627) is above its 21-day, 50-day and 200-day SMAs at 3552, 3535 and 3232. The weekly chart stays neutral with a weekly close above its five-week MMA at 3539. My annual value levels are 3078 and 2669 with semiannual pivots at 3458 and 3456, a monthly risky level at 3639, the Jan. 22 multiyear intraday high at 3634.65 and quarterly risky level at 3714.

    Dow Transports - (7264) is below its 21-day and 50-day SMAs at 7301 and 7272 and above its 200-day SMA at 6734. The weekly chart is negative with the five-week MMA at 7273. My annual value levels are 6249 and 5935 with quarterly and semiannual pivots at 7086 and 7245, semiannual and monthly risky levels at 7376 and 7412 and the Jan.23 all-time high at 7591.43.

    Russell 2000 - (1132.54) is below its 21-day and 50-day SMAs at 1138.12 and 1138.83 and above its 200-day SMA at 1064.90. The weekly chart is negative with the five-week MMA at 1136.93. My annual value levels are 966.72 and 879.39 with semiannual pivots at 1133.29, 1130.79, quarterly and monthly risky level at 1180.35 and 1189.18 and the Jan. 22 all-time intraday high at 1182.04.

    The SOX - (549.48) is above its 21-day, 50-day and 200-day SMAs at 533.82, 526.49 and 491.96. The weekly chart stays neutral with a weekly close above its five-week MMA at 529.31. My semiannual and annual value levels are 490.52, 371.58 and 337.74 with a semiannual pivot at 548.36 and the Feb. 12 multiyear intraday high at 549.48.

    Dow Utilities - (510.62) set a new 2014 high at 512.97 on Tuesday and is above its 21-day, 50-day and 200-day SMAs at 498.64, 491.07 and 492.98. The weekly chart is positive with the five-week MMA at 495.64. My annual and quarterly value levels are 497.53 and 496.84 with monthly and semiannual pivots at 504.53 and 504.74 with semiannual and annual risky levels at 524.37 and 548.70. Utilities are the year-to-date remains the leader up 4.1%.

    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.

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