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Richard Suttmeier
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ValuEngine.com ValuEngine, Inc is an independent research company, producing recommendations, forecasted target prices, and fair market valuations on over 5,500 equities trading on US exchanges (including over 700 international ADR's).. Research on each equity is updated every trading day to... More
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  • New Highs Are In Sight As We Wait For The Fed.  0 comments
    Mar 18, 2014 6:51 PM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    The Dow Industrial Average remains below its all-time high set on Dec. 31 at 16,588.25. The S&P 500 is below its all-time intraday high at 1883.57 set on March 7. The Nasdaq is below its multiyear intraday high at 4371.71 set on March 6. The Dow Transportation Average is below its all-time high at 7627.44 set on March 7. The Russell 2000 is below its all-time high at 1212.82 set on March 4.

    Dow Industrials: (16,336) Daily, weekly and annual value levels are 16,169, 15,660, 14,835 and 13,467 with a semiannual pivot at 16,245, 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. The weekly chart is positive with the five-week MMA at 16,189.

    S&P 500 - (1872.3) Daily, weekly, semiannual and annual value levels are 1852.3, 1820.1, 1797.3, 1764.4, 1539.1 and 1442.1 with the March 7 all-time intraday high at 1883.57, and quarterly and monthly risky levels at 1896.0 and 1930.7. The weekly chart is positive but overbought with the five-week MMA at 1843.5.

    NASDAQ - (4333) Quarterly, daily, weekly, semiannual and annual value levels are 4274, 4260, 4247, 3930, 3920, 3471 and 3063 with the March 6 multiyear intraday high at 4371.71 and monthly risky level at 4567. The weekly chart is positive but overbought with the five-week MMA at 4246.

    NASDAQ 100 (NDX) - (3707) Weekly, daily, semiannual and annual value levels are 3655, 3648, 3456, 3458, 3078 and 2669 with a quarterly pivot at 3714, the March 6 multiyear intraday high at 3738.32 and monthly risky level at 3925. The weekly chart is positive but overbought with the five-week MMA at 3639.

    Dow Transports - (7582) Weekly, semiannual, quarterly and annual value levels are 7305, 7376, 7245, 7086, 6249 and 5935 with a daily pivot at 7547, the March 7 all-time intraday high at 7627.44 and monthly risky level at 7802. The weekly chart is positive with the five-week MMA at 7420.

    Russell 2000 - (1205.04) Daily, quarterly, weekly, semiannual and annual value levels are 1181.85, 1180.35, 1154.81, 1133.29, 1130.79, 966.72 and 879.39, the March 4 all-time intraday high at 1212.82 and monthly risky level at 1253.12. The weekly chart is positive but overbought with the five-week MMA at 1173.96.

    The SOX - (577.19) Daily, weekly, monthly, quarterly, semiannual and annual value levels are 568.12, 567.84, 561.69, 536.98, 548.36, 490.52, 371.58 and 337.74 with the March 7 multiyear intraday high at 577.64. The weekly chart is positive but overbought with the five-week MMA at 557.49.

    Dow Utilities: (524.55) Monthly, semiannual, annual and quarterly value levels are 510.88, 504.74, 497.53 and 496.84 with a semiannual pivot at 524.37 and weekly and annual risky levels at 534.54 and 548.70. The weekly chart is positive but overbought with the five-week MMA at 514.28.

    The yield on the US Treasury 10-Year note (2.672%) is below its 21-day and 50-day SMAs at 2.706% and 2.749% and on the cusp of its 200-day SMA at 2.677% with my quarterly pivot at 2.628% which was tested last Friday. The weekly chart shows this yield below its five-week MMA at 2.718% with its 200-week SMA at 2.417%.

    The yield on the US Treasury 30-Year bond (3.627%) is below its 21-day, 50-day and 200-day SMAs at 3.657%, 3.694% and 3.699%. The weekly chart shows this yield below its five-week MMA at 3.667% and sliding down its 200-week SMA at 3.538%.

    Comex Gold ($1355.9) remains above its 21-day, 50-day and 200-day SMAs at $1344.8, $1295.1 and $1301.7 on the lookout for a golden cross where the 50-day moves above the 200-day. This week's high at $1392.6 was pulled down by my quarterly and monthly pivots at $1385.0 and $1373.0. My semiannual risky level is $1710.6. The weekly chart is positive but overbought with its 5-week MMA at $1321.5 and the 200-week SMA at $1493.6.

    Nymex Crude Oil ($98.08) is above its 50-day SMA at $98.57 but below its 21-day and 200-day SMAs at $101.33 and $100.27. The weekly chart is negative with its five-week MMA at $99.73 with the 200-week SMA at $93.43.

    The Euro (1.3922) has a positive but overbought daily chart with the 21-day, 50-day and 200-day SMAs at 1.3810, 1.3699 and 1.3492 with my monthly risky level at 1.4112. The weekly chart is positive with its five-week MMA at 1.3791 and the 200-week SMA at 1.3338.

    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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