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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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  • I Am Projecting New Risky Levels For The Major Equity Averages In June 0 comments
    May 28, 2014 6:56 PM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    The weekly chart for the Russell 2000 shifts to positive given a weekly close above its five-week modified moving average at 1130.96 This would make all five weekly chart positive with the five-week MMAs on the others at 16485 Dow Industrials, 1879.6 S&P 500, 4150 Nasdaq and 7762 Dow Transports.

    Our overall neutral zone since the beginning of the year continues to be between semiannual value levels at 3930 and 3920 on the Nasdaq and a semiannual risky level at 16860 on Dow Industrials. These levels go away at the end of June. The year-to-date intraday low for the Nasdaq was 3946 on April 15 and year-to-date high is an all-time high for Dow Industrials at 16735.51 on May 13.

    In-between are semiannual and quarterly pivots at 16245 and 16462 Dow Industrials, 1797.3, 1764.4 and 1853.5 S&P 500, 4039 Nasdaq, 7376, 7245 and 7407 Dow Transports and 1130.79, 1133.29 and 1169.22 on the Russell 2000.

    On Wednesday the S&P 500 set an all-time high at 1914.46 and the Dow Transports set an all-time intraday high at 8102.44.

    To confirm a significant market top the major averages need to have weekly closes below semiannual pivots and value levels at 1764.4 S&P 500, 3920 Nasdaq and 7245 Dow Transports.

    The week's value levels are 4057 on the Nasdaq and 1096.43 on the Russell 2000 with weekly pivots at 16568 Dow Industrials, 1886.3 S&P 500 and 7969 Dow Transports.

    Annual value levels are 14835 and 13467 Dow Industrials, 1539.1 and 1442.1 S&P 500, 3471 and 3063 Nasdaq, 6249 and 5935 Dow Transports and 966.72 and 879.39 Russell 2000.

    Dow Industrials: (16633) Weekly, quarterly, semiannual and annual value levels are 16568, 16462, 16245, 14835 and 13467 with a daily pivot at 16665, the May 13 all-time intraday high at 16735.51 and semiannual and monthly risky levels at 16860 and 17407.

    S&P 500 - (1909.8) Weekly, quarterly, semiannual and annual value levels are 1886.3, 1853.5, 1797.3, 1764.4, 1539.1 and 1442.1 with the May 28 all-time intraday high at 1914.46 and daily and monthly risky levels at 1917.7 and 2006.7.

    NASDAQ - (4225) Weekly, quarterly, semiannual and annual value levels are 4057, 4039, 3930, 3920, 3471 and 3063 with a daily pivot at 4258, the March 6 multiyear intraday high at 4371.71 and monthly risky level at 4581.

    NASDAQ 100 (NDX) - (3712) Weekly, semiannual, quarterly and annual value levels are 3571, 3456, 3424, 3078 and 2669 with the March 6 multiyear intraday high at 3738.32, and daily and monthly risky levels at 3749 and 3960.

    Dow Transports - (8076) Quarterly, semiannual, and annual value levels are 7407, 7376, 7245, 6249 and 5935 with a weekly pivot at 7969, the May 28 all-time intraday high at 8102.44 and daily and monthly risky levels at 8118 and 8361.

    Russell 2000 - (1136.68) Weekly and annual value levels are 1096.43, 966.72 and 879.39 with semiannual and daily pivots at 1133.29, 1130.29 and 1142.79, a quarterly risky level at 1169.22, the March 4 all-time intraday high at 1212.82 and monthly risky level at 1261.38.

    The SOX - (597.66) Weekly, semiannual, quarterly and annual value levels are 577.52, 548.36, 507.19, 490.52, 371.58 and 337.74 with the April 3 multiyear intraday high at 601.40 and daily and monthly risky levels at 604.44 and 625.61.

    Dow Utilities: (540.42) Daily, quarterly, semiannual and annual value levels are 534.17, 528.10, 524.37, 504.74 and 497.53, with annual, monthly and weekly risky levels at 548.70, 549.73 and 550.88 and the April 30 all-time intraday high at 558.29.

    10-Year Note - (2.440) A monthly value level is 2.616 with daily and weekly pivots at 2.526 and 2.515 and quarterly, annual and semiannual risky levels at 2.333, 2.263, 1.837 and 1.779.

    30-Year Bond - (3.289) A monthly value level is 3.586 with daily, weekly and quarterly pivots at 3.403, 3.344 and 3.305, and annual and semiannual risky levels at 3.114, 3.107 and 2.624.

    Comex Gold - ($1258.3) Quarterly and monthly value levels are $1215.7 and $1170.4 with a daily pivot at $1268.8 and weekly, semiannual and annual risky levels at $1303.8, $1710.6, $1747.4, $1818.8 and $1857.1.

    Nymex Crude Oil - ($102.87) Monthly and quarterly value levels are $90.39 and $89.40 with a weekly pivot at $102.95 and daily, semiannual and annual risky levels at $104.88, $104.97 and $107.52.

    The Euro - (1.3594) Annual, quarterly and semiannual value levels are 1.3382, 1.3185 and 1.2642 with a daily pivot at 1.3596, and weekly, monthly and annual risky levels at 1.3758, 1.4171 and 1.5512.

    The Dollar versus Japanese Yen - (101.84) My annual value level is are 93.38 with daily and weekly pivots at 101.81 and 101.39 and monthly and quarterly risky levels at 105.37 and 105.66.

    The British Pound - (1.6712) Annual and quarterly value levels are 1.6262 and 1.6123 with daily, weekly and monthly risky levels at 1.6828, 1.6927 and 1.7556.

    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.

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