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The Nasdaq Captures Its Quarterly Risky Level, The Nasdaq 100 Does Not.

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

Despite new multiyear intraday highs for the Nasdaq, Nasdaq 100 and the SOX the Dow Utility Average remains the 2014 leader up 6.0% year-to-date with a semiannual pivot at 504.74 and a semiannual risky level at 524.37.

As new highs were achieved, the Nasdaq exceeded its quarterly risky level at 4274 with a new multiyear intraday high at 4277.33 while the Nasdaq 100 traded as high as 3685.18 on Tuesday shy of its quarterly risky level at 3714.

The PHLX Semiconductor Index (SOX) remains in second place year-to-date with a gain of 4.8% setting a new multiyear intraday high at 560.92 on Tuesday.

The Dow industrial Average is between weekly and semiannual pivots at 16,118 and 16,245 with the S&P 500 above is monthly pivot at 1832.9 but below my quarterly risky level at 1896.0.

The Dow Transportation Average declined on Tuesday and is between it quarterly and semiannual pivots at 7086 and 7245 while the Russell 2000 rebounded and is between semiannual and quarterly pivots at 1133.29 and 1180.35.

US Treasury Yields - The yield on the US Treasury 10-Year note (2.708%) set a 2014 low at 2.570% on Feb. 3 and currently is trading between its 21-day, 50-day and 200-day SMAs at 2.722%, 2.832% and 2.596% with a quarterly pivot at 2.628%. The weekly chart still favors lower yields with its five-week MMA at 2.756% and the 200-week at 2.432%. The yield on the US Treasury 30-Year bond (3.676%) set a 2014 low at 3.525% on Feb. 3 and is currently between its 21-day, 50-day and 200-day SMAs at 3.670%, 3.790% and 3.643%. The weekly chart still favors lower with its five-week MMA at 3.721% and 200-week at 3.551%.

Comex Gold - ($1324.4) traded as high as $1332.4 on Tuesday above its 200-day SMA at $1308.8. The 21-day and 50-day SMAs are $1267.0 and $1244.6. The weekly chart remains positive with its 5-week MMA at $1276.6 and the 200-week SMA at $1,490.6.

Nymex Crude Oil - ($102.43) has been above its 200-day SMA at $99.60 since Feb. 7 with the 21-day and 50-day SMAs at 98.00 and $97.06. The weekly chart is positive with five-week MMA at $98.64 and the 200-week SMA at $92.92.

The Euro - (1.3759) has a positive but overbought daily chart with the 21-day, 50-day and 200-day SMAs at 1.3629, 1.3652 and 1.3414. The weekly chart is positive with five-week MMA at 1.3650 and the 200-week SMA at 1.3315.

Daily Dow: (16,130) has a positive but overbought daily chart with 21-day, 50-day / 200-day SMAs at 15,911, 16,101 and 15,526. The weekly chart shifts to positive with a close this week above its five-week MMA at 16,056.

S&P 500 - (1840.8) has a positive but overbought daily chart with 21-day, 50-day / 200-day SMAs at 1801.8, 1812.2 and 1718.5. The weekly chart shifts to positive with its five-week MMA at 1816.5.

NASDAQ - (4273) has a positive but overbought daily chart with its 21-day, 50-day and 200-day SMAs at 4143, 4124 and 3782. The weekly chart is now positive but overbought with its five-week MMA at 4163.

NASDAQ 100 (NDX) - (3679) has a positive but overbought daily chart with its 21-day, 50-day and 200-day SMAs at 3561, 3546 and 3244. The weekly chart is now positive but overbought with its five-week MMA at 3580.

Dow Transports - (7232) has a neutral daily chart with the index below its 21-day and 50-day SMAs at 7273 and 7277 with its 200-day SMA at 6751. The weekly chart shifts to negative with a weekly close below its five-week MMA at 7269.

Russell 2000 - (1161.48) has a positive daily chart with its 21-day, 50-day and 200-day SMAs at 1135.76, 1140.51 and 1068.13. The weekly chart is neutral with declining stochastics and its five-week MMA at 1143.80.

The SOX - (560.45) has a positive but overbought daily chart with its 21-day, 50-day and 200-day SMAs at 536.23, 529.42 and 493.68. The weekly chart is positive but overbought with its five-week MMA at 538.91.

Dow Utilities - (520.19) has a positive but overbought with its 21-day, 50-day and 200-day SMAs at 502.64, 492.95 and 492.75. The weekly chart is positive with the five-week MMA at 504.37.

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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