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Dow Industrials & Dow Transports Are The YTD Laggards.

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

The Dow Utility Average (518.77) remains the year-to-date leader with a gain of 5.7% still shy of its multiyear intraday high at 537.86 set on April 30, 2013. Utilities set a new 2014 intraday high at 528.03 on Feb. 24, between my semiannual pivot at 524.37 and my annual risky level at 548.70. Monthly, semiannual and annual value levels are 510.88, 504.74 and 497.53. The weekly chart is positive but overbought with the five-week modified moving average at 507.78.

In second place is the PHLX Semiconductor Index (SOX) (563.83) with a YTD gain of 5.4%, and set a new multiyear intraday high at 568.24 last Tuesday. My monthly pivot is 561.69 with a weekly risky level at 565.14. The weekly chart remains positive but overbought with the five-week MMA at 544.01.

The tech-heavy Nasdaq 100 (3696.10) and Nasdaq (4308.12) set new multiyear intraday highs on Friday at 3722.38 and 4342.59 respectively with quarterly pivots at 3713.63 and 4274, and new monthly risky levels at 3925 and 4567. The all-time intraday highs for these two are 4816.35 and 5132.52 in the first quarter of 2000. These indices have positive but overbought weekly charts with five-week MMAs at 3600.65 and 4190.29.

The Dow Industrial Average (16,321.71) is above my semiannual pivot at 16,245 with a new monthly risky level at 16,644. The weekly chart is positive with its five-week MMA at 16,105. My weekly and annual value levels are 15,790, 14,835 and 13,467 with monthly, quarterly and semiannual risky levels at 16,644, 16,761 and 16,860.

The S&P 500 (1859.45) set a new all-time intraday high at 1867.89 on Feb. 28 with this week's value level at 1830.0 and quarterly and monthly risky levels at 1896.0 and 1930.7. The weekly chart is positive with the five-week MMA at 1824.39.

The Dow Transportation Average (7348.37) is between my semiannual pivots at 7245 and 7376 with a quarterly value level at 7086 with the Jan. 23 all-time intraday high at 7591.43 and monthly risky level at 7802. The weekly chart is neutral with the five-week MMA at 7297 and with declining 12x3x3 weekly slow stochastics.

The Russell 2000 (1183.03) set a new all-time intraday high at 1193.50 on Feb. 28 with my quarterly pivot at 1180.35 and monthly risky level at 1253.12. The weekly chart profile is positive with the five-week MMA at 1152.15.

Dow Industrials: (16,322) Weekly and annual value levels are 15,790, 14,835 and 13,467 with semiannual and daily pivots at 16,245 and 16,265, the Dec. 31 all-time intraday high at 16,588.25 and monthly, quarterly and semiannual risky levels at 16,644, 16,761 and 16,860.

S&P 500 - (1859.5) Daily, weekly, semiannual and annual value levels are 1851.7, 1823.0, 1797.3, 1764.4, 1539.1 and 1442.1 with the Feb. 28 all-time intraday high at 1867.89, and quarterly and monthly risky levels at 1896.0 and 1930.7.

NASDAQ - (4308) Semiannual and annual value levels are 3930, 3920, 3471 and 3063 with semiannual, weekly and daily pivots at 4274, 4280 and 4300, the Feb. 28 multiyear intraday high at 4342.59 and monthly risky level at 4567.

NASDAQ 100 (NDX) - (3696) Semiannual and annual value levels are 3456, 3458, 3078 and 2669 with daily and weekly pivots at 3681 and 3684, my quarterly pivot at 3714, the Feb. 28 multiyear intraday high at 3722.38 and monthly risky level at 3925.

Dow Transports - (7348) Semiannual, quarterly and annual value levels are 7245, 7086, 6249 and 5935 with daily, weekly and semiannual pivots at 7350, 7338 and 7376, the Jan. 23 all-time intraday high at 7591.43 and monthly risky level at 7802.

Russell 2000 - (1183.03) Weekly, semiannual and annual value levels are 1156.00, 1133.29, 1130.79, 966.72 and 879.39 with quarterly and daily pivots at 1180.35 and 1185.20, the Feb. 28 all-time intraday high at 1193.50 and monthly risky level at 1253.12.

The SOX - (563.83) Quarterly, semiannual and annual value levels are 536.98, 490.52, 371.58 and 337.74 with semiannual, monthly, daily and weekly pivots at 548.36, 561.69, 565.19 and 565.14 and Feb. 26 multiyear intraday high at 568.24.

Dow Utilities: (518.77) Monthly, semiannual, annual and quarterly value levels are 510.88, 504.74, 497.53 and 496.84 with semiannual, weekly and annual risky levels at 524.37, 533.97 and 548.70.

The yield on the US Treasury 10-Year note (2.660%) is below its 21-day and 50-day SMAs at 2.696% and 2.807% and tested its 200-day SMA at 2.638 on Friday with its quarterly pivot at 2.628%. The weekly chart favors lower yields with a weekly close below its five-week MMA at 2.741%. The 200-week SMA is 2.427%.

The yield on the US Treasury 30-Year bond (3.594%) is below its 21-day, 50-day and 200-day SMAs at 3.659%, 3.755% and 3.671%. The weekly chart favors lower yields with its five-week MMA at 3.699 and its 200-week SMA at 3.547%.

Comex Gold ($1321.6) remains above its 200-day SMA at $1303.8 with the 21-day and 50-day SMAs at $1295.0 and $1258.7 on a positive but overbought daily chart. The weekly chart remains positive with its 5-week MMA at $1285.5 and the 200-week SMA at $1,491.3. A potential problem for gold is a lack of a value level from my proprietary analytics.

Nymex Crude Oil ($102.59) remains above its 200-day SMA at $99.88 with the 21-day and 50-day SMAs at $100.38 and $97.87, but the daily chart has declining momentum and my quarterly value level lags at $93.35. The weekly chart is positive with five-week MMA at $99.39 and the 200-week SMA at $93.01.

The Euro (1.3802) has a neutral daily chart with the 21-day, 50-day and 200-day SMAs at 1.3659, 1.3653 and 1.3443 with my monthly risky level at 1.4112. The weekly chart is positive with five-week MMA at 1.3677 and the 200-week SMA at 1.3318.

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