Seeking Alpha

Richard Suttmeier's  Instablog

Richard Suttmeier
Send Message
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
My company:
ValuEngine
My blog:
valuengine.com/ve/ma...
  • New Highs And Potential Daily Key Reversals The S&P 500 And Nasdaq 0 comments
    Jun 24, 2014 6:43 PM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    Daily key reversals will be confirmed by lower closes on Wednesday and Thursday for the S&P 500, and the Nasdaq. Each of these averages set all-time or multiyear intraday highs on Tuesday at 1968.17 S&P 500and 4399.87 Nasdaq then closed below Monday's lows at 1958.89 S&P 500 and 4358.68 Nasdaq.

    The weekly charts are positive for all five major equity averages with overbought conditions on Dow Industrials, S&P 500, Nasdaq and Dow Transports. The Russell 2000 still has 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, 1968.17 S&P 500 set on June 24, 4399..87 Nasdaq set on June 24, 8256.79 Dow Transports set on June 9 and 1212.82 Russell 2000 set on March 4.

    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: (16818) Quarterly, semiannual and annual value levels are 16462, 16245, 14835 and 13467 with a semiannual pivot at 16860, the June 20 all-time intraday high at 16978.02 and daily, weekly and monthly risky levels at 16980, 17084 and 17471.

    S&P 500 - (1950.0) Quarterly, semiannual and annual value levels are 1853.5, 1797.3, 1764.4, 1539.1 and 1442.1 with the June 24 all-time intraday high at 1968.17 and daily, weekly and monthly risky levels at 1971.6, 1975.0 and 2020.7.

    NASDAQ - (4350) Quarterly, semiannual and annual value levels are 4039, 3930, 3920, 3471 and 3063 with the June 24 multiyear intraday high at 4399.87 and weekly, daily and monthly risky levels at 4387, 4398 and 4532.

    NASDAQ 100 (NDX) - (3800) Semiannual, quarterly and annual value levels are 3456, 3424, 3078 and 2669 with the June 24 multiyear intraday high at 3837.17, and daily, weekly and monthly risky levels at 3825, 3871 and 3966.

    Dow Transports - (8093) Quarterly, semiannual, and annual value levels are 7407, 7376, 7245, 6249 and 5935 with the June 9 all-time intraday high at 8256.79 and daily, weekly and monthly risky levels at 8249, 8418 and 8463.

    Russell 2000 - (1173.24) Quarterly, weekly, semiannual and annual value levels are 1169.22, 1166.83, 1131.70, 1133.29, 1130.79, 966.72 and 879.39 with a daily risky level at 1194.63, the March 4 all-time intraday high at 1212.82 and monthly risky level at 1213.68.

    The SOX - (628.50) 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 24 multiyear intraday high at 637.91 and daily risky level at 642.35.

    Dow Utilities: (565.86) Monthly, weekly, quarterly, semiannual and annual value levels are 557.32, 542.98, 528.10, 524.37, 504.74 and 497.53, with the June 19 all-time intraday high at 570.12 and daily risky level at 582.01.

    10-Year Note - (2.583) Daily and monthly value levels are 2.633 and 2.708 with weekly, quarterly, annual and semiannual risky levels at 2.484, 2.333, 2.263, 1.837 and 1.779.

    30-Year Bond - (3.401) Daily and monthly value levels are 3.444 and 3.492 with weekly, quarterly, annual and semiannual risky levels at 3.361, 3.305, 3.283, 3.114, 3.107 and 2.624.

    Comex Gold - ($1319.6) Weekly, quarterly and monthly value levels are $1272.2, $1215.7 and $1209.6 with a daily pivot at $1322.8 and semiannual, annual and semiannual risky levels at $1710.6, $1747.4, $1818.8 and $1857.1.

    Nymex Crude Oil - ($106.00) Monthly and quarterly value levels are $96.59 and $89.40 with semiannual, daily and weekly pivots at $104.97, $105.96 and $106.48, and annual risky level at $107.52.

    The Euro - (1.3605) Weekly, annual, quarterly and semiannual value levels are 1.3490, 1.3382, 1.3185 and 1.2642 with a daily pivot at 1.3614 and monthly and annual risky levels at 1.3833 and 1.5512.

    The Dollar versus Japanese Yen - (101.90) My annual value level is 93.38 with daily and weekly pivots at 102.27 and 101.83 and monthly and quarterly risky levels at 105.97 and 105.66.

    The British Pound - (1.6985) 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 1.7102.

    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.

Back To Richard Suttmeier's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.