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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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  • Mid-Year Ends With New Highs On The Nasdaq, Nasdaq 100 And Dow Utilities!  0 comments
    Jun 30, 2014 10:58 PM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    The Nasdaq and Nasdaq 100 set new multiyear intraday highs on June 30 at 4417.46 and 3860.65, respectively. The Dow Utility Average set a new all-time intraday high at 576.98.

    The first half performance winner was the PHLX Semiconductor Index (SOX) with a gain of 18.9% followed by utilities with a gain of 17.4% the Transports up 10.8%.

    The weekly charts are positive for all five major equity averages with overbought conditions on Dow Industrials, S&P 500, Nasdaq and Dow Transports and with the Russell 2000 with rising stochastics.

    The five-week modified moving averages are 16720 Dow industrials, 1925.1 S&P 500, 4275 Nasdaq, 8006 Dow Transports and 1159.15 Russell 2000.

    A weekly value level is 1174.78 on the Russell 2000 with weekly risky levels at 16987 Dow Industrials, 1974.6 S&P 500, 4407 Nasdaq and 8405 Dow Transports.

    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.

    Note the new monthly, quarterly and semiannual risky levels.

    Dow Industrials: (16827) Semiannual and annual value levels are 16301, 14835 and 13467 with a daily pivot at 16836, the June 20 all-time intraday high at 16978.02 and weekly, monthly, quarterly and semiannual risky levels at 16987, 17364, 17753 and 18552.

    S&P 500 - (1960.2) Semiannual and annual value levels are 1789.3, 1539.1 and 1442.1 with a daily pivot at 1961.5, the June 24 all-time intraday high at 1968.17 and weekly, monthly, quarterly and semiannual risky levels at 1974.6, 1994.2, 2052.3 and 2080.3.

    NASDAQ - (4408) Semiannual and annual value levels are 3972, 3471 and 3063 with daily and weekly pivots at 4397 and 4407, the June 30 multiyear intraday high at 4417.46 and monthly, quarterly and semiannual risky levels at 4529, 4569 and 4642.

    NASDAQ 100 (NDX) - (3849) Semiannual and annual value levels are 3515, 3078 and 2669 with a daily pivot at 3841, the June 30 multiyear intraday high at 3860.65, and weekly, quarterly, monthly and semiannual risky levels at 3883, 3894, 3936 and 4105.

    Dow Transports - (8202) Semiannual and annual value levels are 7423, 6249 and 5935 with a daily pivot at 8165, the June 9 all-time intraday high at 8256.79 and quarterly, monthly, weekly and semiannual risky levels at 8256, 8365, 8405 and 8447.

    Russell 2000 - (1192.96) Weekly, semiannual and annual value levels are 1174.78, 1139.81, 966.72 and 879.39 with a daily pivot at 1187.86, the March 4 all-time intraday high at 1212.82 and monthly, semiannual and quarterly risky levels at 1215.89, 1285.37 and 1293.11.

    The SOX - (635.93) Daily, quarterly, semiannual and annual value levels are 631.54, 626.96, 608.02, 512.94, 371.58 and 337.74 with the June 24 multiyear intraday high at 637.91 and weekly and monthly risky levels at 642.33 and 642.34.

    Dow Utilities: (575.98) Monthly, weekly, annual, quarterly, semiannual and annual value levels are 563.44, 558.20, 548.70, 536.44, 523.72 and 497.53, with a daily pivot at 575.65, the June 30 all-time intraday high at 576.98 and semiannual risky level at 612.49.

    10-Year Note - (2.521) Monthly and quarterly value levels are 2.787 and 3.048 with daily and weekly pivots at 2.539 and 2.530 and annual and semiannual risky levels at 2.263, 1.999 and 1.779.

    30-Year Bond - (3.347) Daily, weekly, monthly and quarterly value levels are 3.381, 3.423, 3.486 and 3.971 with annual and semiannual risky levels at 3.283, 3.107 and 3.082.

    Comex Gold - ($1329.0) Weekly, quarterly and monthly value levels are $1281.1, $1234.6 and $1233.8 with daily, semiannual and annual risky levels at $1366.3, $1613.0, $1738.7, $1747.4 and $1818.8.

    Nymex Crude Oil - ($105.41) No value levels with monthly and daily pivots at $105.23 and $105.74 and semiannual, annual, weekly and quarterly risky levels at $106.48, $107.52, $108.45 and $113.12..

    The Euro - (1.3692) Weekly, annual and semiannual value levels are 1.3415, 1.3382 and 1.2203 with a daily pivot at 1.3675 and monthly, quarterly, semiannual and annual risky levels at 1.3819, 1.4079, 1.4617 and 1.5512.

    The Dollar versus Japanese Yen - (101.31) My annual value level is 93.38 with daily and weekly pivots at 101.48 and 101.42 and monthly and quarterly risky levels at 106.47 and 112.83.

    The British Pound - (1.7111) Weekly, quarterly and annual value levels are 1.6935, 1.6874 and 1.6262 with a daily pivot at 1.7087 and semiannual and monthly risky levels at 1.7302 and 1.7438.

    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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