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Richard Suttmeier
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I am the Founder & CEO at Global Market Consultants, Ltd. I consider myself as a Financial Engineer with an engineering degree from Georgia Tech and a Master of Science degree from Brooklyn Poly. In 1972 I began my career in the financial services industry trading U.S. Treasury securities in the... More
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  • The S&P 500 And Dow Transports Set New All-Time Highs On Friday.  1 comment
    Mar 8, 2014 11:48 AM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    All major averages set new all-time or multiyear highs last week except the Dow Industrial Average which remains below its all-time high set on Dec. 31 at 16,588.25. The Dow is the only major average in the red for the year down 0.7%. This week the Dow has a value level at 15,855 with monthly, quarterly and semiannual risky levels at 16,644, 16,761 and 16,860.

    The S&P 500 set another new all-time intraday high at 1883.57 on Friday closing in on its quarterly risky level at 1896.0 with its monthly risky level at 1930.7. This week's value level is 1824.1.

    The Nasdaq set a new multiyear intraday high at 4371.71 last Thursday still well below its monthly risky level at 4567. This week's value level and quarterly pivot are 4279 and 4274.

    A big surprise this week was the resurgent Dow Transportation Average which rallied to a new all-time high at 7627.44 on Friday with its monthly risky level at 7802. This week's value level at 7282 is in between its semiannual pivots at 7245 and 7376.

    The Russell 2000 set a new all-time high at 1212.82 on Tuesday with its quarterly pivot at 1180.35 and monthly risky level at 1253.12.

    The Dow Utility Average lost its year-to-day leadership slipping into second place up 4.8% with monthly and semiannual value levels at 510.88 and 504.74 and semiannual and weekly risky levels at 524.37 and 525.00.

    Taking over the year-to-date lead is the PHLX Semiconductor Index (SOX) up 7.4% so far in 2014. This week's value level is 569.51 without a risky level.

    The Nasdaq 100 set a new multiyear intraday high at 3738.32 on Thursday and this week's value level is 3690 with my quarterly pivot at 3714 and monthly risky level at 3925.

    Dow Industrials: (16,453) Semiannual, weekly and annual value levels are 16,245, 15,855, 14,835 and 13,467 with a daily pivot at 16,497, 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 - (1878.0) Weekly, semiannual and annual value levels are 1824.1, 1797.3, 1764.4, 1539.1 and 1442.1 with the March 7 all-time intraday high at 1883.57, and daily, quarterly and monthly risky levels at 1885.0, 1896.0 and 1930.7.

    NASDAQ - (4336) Semiannual and annual value levels are 3930, 3920, 3471 and 3063 with semiannual, weekly and daily pivots at 4274, 4279 and 4364, the March 6 multiyear intraday high at 4371.71 and monthly risky level at 4567.

    NASDAQ 100 (NDX) - (3703) Semiannual and annual value levels are 3456, 3458, 3078 and 2669 with daily, weekly and quarterly pivots at 3724, 3690 and 3714, the March 6 multiyear intraday high at 3738.32 and monthly risky level at 3925.

    Dow Transports - (7592) Weekly, semiannual, quarterly and annual value levels are 7282, 7376, 7245, 7086, 6249 and 5935 with a daily pivot at 7584, the March 7 all-time intraday high at 7627.44 and monthly risky level at 7802.

    Russell 2000 - (1203.32) Weekly, semiannual and annual value levels are 1160.69, 1133.29, 1130.79, 966.72 and 879.39 with a quarterly pivot at 1180.35, the March 4 all-time intraday high at 1212.82 and daily and monthly risky levels at 1216.00 and 1253.12.

    The SOX - (574.39) 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, 576.75 and 569.51 and the March 7 multiyear intraday high at 577.64.

    Dow Utilities: (514.20) Daily, monthly, semiannual, annual and quarterly value levels are 510.56, 510.88, 504.74, 497.53 and 496.84 with semiannual, weekly and annual risky levels at 524.37, 525.00 and 548.70.

    The yield on the US Treasury 10-Year note (2.789%) is above its 21-day and 200-day SMAs at 2.709% and 2.653% and on the cusp of its 50-day SMA at 2.788%. The weekly chart shows this yield above its five-week MMA at 2.751% and its 200-week SMA at 2.424%.

    The yield on the US Treasury 30-Year bond (3.724%) is above its 21-day and 200-day SMAs at 3.669% and 3.684 and on the cusp of its 50-day SMA at 3.732%. The weekly chart shows this yield above its five-week MMA at 3.704% after testing its 200-week SMA at 3.544%.

    Comex Gold ($1338.2) remains above its 200-day SMA at $1302.9 and its 21-day and 50-day SMAs at $1317.3 and $1271.9 on a neutral daily chart. The weekly chart is positive but overbought with its 5-week MMA at $1296.0 and the 200-week SMA at $1491.9.

    Nymex Crude Oil ($102.58) remains above its 21-day, 50-day and 200-day SMAs at $101.67, $98.30 and $100.05. The weekly chart is positive but overbought with its five-week MMA at $100.03 and the 200-week SMA at $93.14.

    The Euro (1.3876) has a positive daily chart with the 21-day, 50-day and 200-day SMAs at 1.3721, 1.3663 and 1.3464 with my monthly risky level at 1.4112. The weekly chart is positive with its five-week MMA at 1.3717 and the 200-week SMA at 1.3323.

    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
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  • Tony Pow
    , contributor
    Comments (8030) | Send Message
     
    The best of time could be the worst of time. The market is peaking and overbought from the technical indicators described in my book Market Timing: Profitable, Predictable and Protective.
    9 Mar 2014, 04:12 AM Reply Like
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