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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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  • No New Highs But No Key Reversals Either!  0 comments
    Jun 25, 2014 5:43 PM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    The major averages rebounded today eliminating the potential key reversals that were possible for the S&P 500 and Nasdaq. The rebound did not result in new highs.

    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 and 4399.87 Nasdaq set on June 24. 8256.79 Dow Transports set on June 9. 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: (16868) 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 16970, 17084 and 17471.

    S&P 500 - (1959.5) 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 1972.9, 1975.0 and 2020.7.

    NASDAQ - (4380) 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, 4406 and 4532.

    NASDAQ 100 (NDX) - (3827) 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 3831, 3871 and 3966.

    Dow Transports - (8164) 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 8232, 8418 and 8463.

    Russell 2000 - (1182.68) 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 1197.89, the March 4 all-time intraday high at 1212.82 and monthly risky level at 1213.68.

    The SOX - (630.87) 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 637.49.

    Dow Utilities: (569.17) 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 585.64.

    10-Year Note - (2.559) Daily and monthly value levels are 2.602 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 - (3.382) Daily and monthly value levels are 3.430 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 - ($1320.0) Weekly, quarterly and monthly value levels are $1272.2, $1215.7 and $1209.6 with daily, semiannual, annual and semiannual risky levels at $1329.1, $1710.6, $1747.4, $1818.8 and $1857.1.

    Nymex Crude Oil - ($106.58) Monthly and quarterly value levels are $96.59 and $89.40 with semiannual, daily and weekly pivots at $104.97, $105.97 and $106.48, and annual risky level at $107.52.

    The Euro - (1.3630) Weekly, annual, quarterly and semiannual value levels are 1.3490, 1.3382, 1.3185 and 1.2642 with a daily pivot at 1.3656 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 - (1.6978) 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 1.7020.

    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.

    Stocks: TLT, GLD, XLE, DIA, QQQ, SPY
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