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The Nasdaq 100 And The SOX Set New Multiyear Intraday Highs.

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

The tech-heavy Nasdaq 100 and the SOX set new multiyear intraday highs at 3659.56 and 556.04 respectively, but the best performing index year-to-date is Dow Utilities with a gain of 5.2%.

Meanwhile the five major averages are diverging with regard to daily and weekly chart formations and positions relative to my proprietary analytics. All five have declining momentum on their weekly charts but closed Thursday above their five-week modified moving averages at 16,011 Dow industrials, 1808.7 S&P 500, 4134 Nasdaq, 7272 Dow Transports and 1139.10 Russell 2000.

The major averages still 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. My monthly pivots / risky levels are 15,986 Dow Industrials, 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 (2.733%) set a 2014 low at 2.570% on Feb. 3 vs. its 21-day and 50-day SMAs at 2.735% and 2.835% with a quarterly pivot at 2.628% and the 200-day SMA at 2.585%. 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 (3.684%) set a 2014 low at 3.525% on Feb. 3 vs. its 21-day and 50-day SMAs at 3.680% and 3.797% with the 200-day SMA at 3.635%. The weekly chart still favors lower with its five-week MMA at 3.740% and 200-week at 3.561%.

Comex Gold - ($1300.9) traded as high as $1303.0 on Thursday above its 21-day and 50-day SMAs at $1262.2 and $1242.7 with the 200-day SMA at $1309.5. 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 - ($100.21) remains above its 200-day SMA at $99.56 on commodity speculation. The weekly chart is positive with five-week MMA and 200-week SMA at $97.04 and $92.75.

The Euro - (1.3678) has a positive daily chart with the 21-day, 50-day and 200-day SMAs at 1.3601, 1.3653 and 1.3401. The weekly chart is neutral with five-week at 1.3606 and 200-week at 1.3312.

Daily Dow: (16,028) is above its 200-day SMA at 15,512 and between its 21-day SMA at 15,940 and its 50-day SMA at 16,092. The weekly chart stays negative with a close today below its five-week MMA at 16,011 with its 200-week SMA 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 - (1829.8) is above its 21-day, 50-day and 200-day SMAs at 1802.5, 1810.4 and 1716.0. The weekly chart shifts to neutral with a close this week above its the five-week MMA at 1808.7 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 - (4241) is above its 21-day, 50-day and 200-day SMAs at 4139 and 4116 with the 200-day SMA at 3773. The weekly chart stays neutral with a close this week above its five-week MMA at 4134. 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) - (3660) is above its 21-day, 50-day and 200-day SMAs at 3556, 3539 and 3236. 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 and monthly pivots at 3458, 3456 and 3639, the Feb. 12 multiyear intraday high at 3659.56 and quarterly risky level at 3714.

Dow Transports - (7282) is on the cusp of its 21-day and 50-day SMAs at 7293 and 7273 and above its 200-day SMA at 6739. The weekly chart stays negative with a weekly close below its 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 - (1147.79) is above its 21-day, 50-day and 200-day SMAs at 1137.37, 1139.20 and 1065.90. The weekly chart is neutral with the five-week MMA at 1139.10. My annual value levels are 966.72 and 879.39 with semiannual pivots at 1133.29, 1130.79, quarterly and monthly risky levels at 1180.35 and 1189.18 and the Jan. 22 all-time intraday high at 1182.04.

The SOX - (556.02) is above its 21-day, 50-day and 200-day SMAs at 534.59, 527.42 and 492.52. 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. 13 multiyear intraday high at 556.04.

Dow Utilities - (516.25) set a new 2014 high at 516.80 on Thursday and is above its 21-day, 50-day and 200-day SMAs at 499.89, 491.69 and 492.87. 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 leader up 5.2%.

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