The Dow Industrial Average (16,133) stayed shy of its semiannual pivot at 16,245 with an overbought daily chart with a weekly chart that shifts to positive with a close today above its five-week modified moving average at 16,056.
The S&P 500 (1839.8) traded around its monthly pivot at 1832.9 with an overbought daily chart. The weekly chart shifts to positive with a close today above its five-week MMA at 1816.3.
The Nasdaq (4267.5) ended Thursday between monthly and quarterly pivots at 4267 and 4274 with an overbought daily chart. A close above 4274 would signal another leg up as the weekly chart becomes positive but overbought yet again with a close above its five-week MMA at 4162.
The Dow Transportation Average (7252) returned to its semiannual pivot at 7245 with a neutral daily chart with the 21-day and 50-day simple moving averages at 7249 and 7278 with my semiannual risky level at 7376. A close today below its five-week MMA at 7273 shifts the weekly chart to negative.
The Russell 2000 (1162.12) is between its semiannual and quarterly pivots at 1133.29 and 1180.35 with a positive but overbought daily chart. The weekly chart is neutral with its five-week MMA at 1143.93 and with declining 12x3x3 weekly slow stochastics.
The NASDAQ 100 (NDX) (3672) is between its monthly pivot at 3639 and its semiannual risky level, which has not yet been tested at 3714 as the daily chart is positive but overbought. The weekly chart is positive but overbought with its five-week MMA at 3579.
The PHLX Semiconductor Index (SOX) (564.06) continues to set new multiyear intraday highs for the sixth day in a row with a positive but overbought daily chart and a positive but overbought weekly chart with its five-week MMA at 539.63.
The Dow Utilities Average (523.12) is the year-to-date winner up 6.6% and the average tested its semiannual pivot at 524.37 on Thursday with a positive but overbought daily chart. A second semiannual pivot is 504.74 with an annual risky level at 548.70 vs. its multiyear intraday high at 537.86 set on April 30, 2013. The weekly chart is positive with its five-week MMA at 504.96.
The yield on the US Treasury 10-Year note (2.757%) is between its 21-day and 50-day SMAs at 2.710% and 2.825% with its 200-day SMA at 2.612%. The weekly chart still favors lower yields with its five-week MMA at 2.766% and the 200-week at 2.432%.
The yield on the US Treasury 30-Year bond (3.724%) is between its 21-day and 200-day SMAs at 3.666% and 3.656% and its 50-day SMA at 3.779%. The weekly chart still favors lower yields with its five-week MMA at 3.730% and its 200-week SMA at 3.552%.
Comex Gold ($1321.7) traded as high as $1332.4 on Tuesday and remains above its 200-day SMA at $1306.7. The 21-day and 50-day SMAs are $1277.8 and $1249.8 with a positive but overbought daily chart. The weekly chart remains positive with its 5-week MMA at $1276.1 and the 200-week SMA at $1,490.6.
Nymex Crude Oil ($102.44) traded as high as $103.80 on Wednesday and remains above its 200-day SMA at $99.71 with the 21-day and 50-day SMAs at $99.07 and $97.38. The weekly chart is positive with five-week MMA at $98.64 and the 200-week SMA at $92.92.
The Euro (1.3707) has a positive but overbought daily chart with the 21-day, 50-day and 200-day SMAs at 1.3637, 1.3650 and 1.3422. The weekly chart is positive with five-week MMA at 1.3639 and the 200-week SMA at 1.3315.
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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.