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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 All-Time Highs Set On Dow Industrials, S&P And Dow Utilities 0 comments
    Jun 21, 2014 10:10 AM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    The weekly charts are positive for all five major equity averages with overbought conditions on Dow Industrials, S&P 500 and Dow Transports and with the Nasdaq and Russell 200 still having rising stochastics.

    The five-week modified moving averages are 16684 Dow industrials, 1915.7 S&P 500, 4243 Nasdaq, 7962 Dow Transports and 1151.16 Russell 2000.

    A weekly value level is 1166.83 on the Russell 2000 with weekly risky levels at 17085 Dow Industrials, 1975.0 S&P 500, 4387 Nasdaq and 8418 Dow Transports.

    Monthly risky levels remain at 17471 Dow Industrials, 2020.7 S&P 500, 4532 Nasdaq, 8463 Dow Transports and 1213.68 Russell 2000.

    All-time highs or multiyear highs are at 16978.02 Dow Industrials set on June 20, 1963.91 S&P 500 set on June 20, 4372.18 Nasdaq set on June 19, 8256.79 Dow Transports set on June 9 and 1212.82 Russell 2000 set on March 4.

    The year-to-date leaders have been the PHLX Semiconductor index (SOX) with a multiyear intraday high at 636.59 set on June 17 up 18.8%YTD, and Dow Utilities with an all-time intraday high at $570.70 set on June 20, up 15.5% YTD.

    Regardless of the upside potential there is risk to annual value levels in the second half of 2014 at 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: (16921) Daily, quarterly, semiannual and annual value levels are 16758, 16462, 16245, 14835 and 13467 with a semiannual pivot at 16860, the June 20 all-time intraday high at 16978.02 and weekly and monthly risky levels at 17084 and 17471.

    S&P 500 - (1962.9) Daily, quarterly, semiannual and annual value levels are 1945.2, 1853.5, 1797.3, 1764.4, 1539.1 and 1442.1 with the June 20 all-time intraday high at 1963.91 and weekly and monthly risky levels at 1975.0 and 2020.7.

    NASDAQ - (4368) Daily, quarterly, semiannual and annual value levels are 4344, 4290, 4039, 3930, 3920, 3471 and 3063 with the June 19 multiyear intraday high at 4372.18 and weekly and monthly risky levels at 4387 and 4532.

    NASDAQ 100 (NDX) - (3803) Daily, semiannual, quarterly and annual value levels are 3779, 3456, 3424, 3078 and 2669 with the June 19 multiyear intraday high at 3811.24, and weekly and monthly risky levels at 3871 and 3966.

    Dow Transports - (8205) Daily, quarterly, semiannual, and annual value levels are 8023, 7407, 7376, 7245, 6249 and 5935 with the June 9 all-time intraday high at 8256.79 and weekly and monthly risky levels at 8418 and 8463.

    Russell 2000 - (1188.42) Daily, quarterly, weekly, semiannual and annual value levels are 1177.56, 1169.22, 1166.83, 1131.70, 1133.29, 1130.79, 966.72 and 879.39 with the March 4 all-time intraday high at 1212.82 and monthly risky level at 1213.68.

    The SOX - (635.42) Monthly, semiannual, quarterly and annual value levels are 621.90, 548.36, 507.19, 490.52, 371.58 and 337.74 with a weekly pivot at 635.04, the June 17 multiyear intraday high at 636.59 and daily risky level at 641.24.

    Dow Utilities: (566.46) Monthly, weekly, quarterly, semiannual and annual value levels are 557.32, 542.98, 528.10, 524.37, 504.74 and 497.53, with a daily pivot at 565.26 and the June 19 all-time intraday high at 570.12.

    10-Year Note - (2.619) A monthly value level is 2.708 with a daily pivot at 2.594 and weekly, quarterly, annual and semiannual risky levels at 2.484, 2.333, 2.263, 1.837 and 1.779.

    30-Year Bond - (3.446) A monthly value level is 3.492 with daily, quarterly, weekly, annual and semiannual risky levels at 3.398, 3.361, 3.305, 3.283, 3.114, 3.107 and 2.624.

    Comex Gold - ($1316.3) Weekly, quarterly and monthly value levels are $1272.2, $1215.7 and $1209.6 with a daily pivot at $1311.9 and semiannual, annual and semiannual risky levels at $1710.60, $1747.4, $1818.8 and $1857.1.

    Nymex Crude Oil - ($106.61) Monthly and quarterly value levels are $96.59 and $89.40 with semiannual and weekly pivots at $104.97 and $106.48, and daily and annual risky levels at $108.48 and $107.52.

    The Euro - (1.3596) Weekly, annual, quarterly and semiannual value levels are 1.3490, 1.3382, 1.3185 and 1.2642 with a daily pivot at 1.3591 and monthly and annual risky levels at 1.3833 and 1.5512.

    The Dollar versus Japanese Yen - (102.06) My annual value level is 93.38 with daily and weekly pivots at 101.59 and 101.83 and monthly and quarterly risky levels at 105.97 and 105.66.

    The British Pound - (1.7014) Annual and quarterly value levels are 1.6262 and 1.6123 with weekly and monthly pivots at 1.6961 and 1.6970 with a daily risky level at 1.7167.

    To learn more about ValuEngine check out www.ValuEngine.com. Any comments or questions contact me at RSuttmeier@gmail.com.

    Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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