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The Nasdaq 100 And Semiconductors (SOX) Set New Highs On Wednesday.

|Includes:DIA, GLD, QQQ, SPY, iShares 20+ Year Treasury Bond ETF (TLT), XLE

The Nasdaq 100 set a new multiyear intraday high at 3904.35 on Wednesday as did the PHLX Semiconductor Index (SOX) at 647.32.

The Russell 2000 is above its weekly value level at 1174.78 with the Nasdaq above its weekly pivot at 4407. Dow Industrials and S&P 500 traded around their weekly pivot at 16987 and 1974.6. Dow Transports is below its quarterly pivot at 8256 with this week's risky level at 8405.

The weekly charts are positive but overbought with the Russell 2000 still showing rising 12x3x3 weekly slow stochastics. The key to continuing to set new multiyear or all-time intraday highs are weekly closes above the five-week modified moving averages at 16720 Dow Industrials, 1925.1 S&P 500, 4275 Nasdaq, 8006 Dow Transports and 1159.15 Russell 2000.

Semiannual value levels are 16301 Dow Industrials, 1789.3 S&P 500, 3972 Nasdaq, 7423 Dow Transports and 1139.81 Russell 2000.

Monthly, quarterly and semiannual risky levels are 17364, 17753, 18522 Dow Industrials, 1994.2, 2052.2 and 2080.3 S&P 500, 4529, 4569 and 4642 Nasdaq, 8365 and 8447 Dow Transports and 1215.89, 1293.11 and 1285.37 Russell 2000.

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: (16976) Daily, semiannual and annual value levels are 16843, 16301, 14835 and 13467 with a weekly pivot at 16987, the July 1 all-time intraday high at 16998.70 and monthly, quarterly and semiannual risky levels at 17364, 17753 and 18552.

S&P 500 - (1974.63) Daily, semiannual and annual value levels are 1964.5, 1789.3, 1539.1 and 1442.1 with a weekly pivot at 1974.6, the July 1 all-time intraday high at 1978.58 and monthly, quarterly and semiannual risky levels at 1994.2, 2052.3 and 2080.3.

NASDAQ - (4458) Weekly, semiannual and annual value levels are 4407, 3972, 3471 and 3063 with a daily pivot at 4445, the July 1 multiyear intraday high at 4471.60 and monthly, quarterly and semiannual risky levels at 4529, 4569 and 4642.

NASDAQ 100 (NDX) - (3899) Semiannual and annual value levels are 3515, 3078 and 2669 with daily, weekly and quarterly pivots at 3896, 3883 and 3894, the July 2 multiyear intraday high at 3904.35, and monthly and semiannual risky levels at 3936 and 4105.

Dow Transports - (8233) Daily, semiannual and annual value levels are 8167, 7423, 6249 and 5935 with a quarterly pivot at 8256, the July 1 all-time intraday high at 8295.29 and monthly, weekly and semiannual risky levels at 8365, 8405 and 8447.

Russell 2000 - (1199.55) Daily, weekly, semiannual and annual value levels are 1191.38, 1174.78, 1139.81, 966.72 and 879.39 with the July 1 all-time intraday high at 1213.55, and monthly, semiannual and quarterly risky levels at 1215.89, 1285.37 and 1293.11.

The SOX - (645.78) Daily, quarterly, semiannual and annual value levels are 636.19, 626.96, 608.02, 512.94, 371.58 and 337.74 with weekly and monthly pivots at 642.33 and 642.34, and the July 2 multiyear intraday high 647.32.

Dow Utilities: (560.19) Weekly, annual, quarterly, semiannual and annual value levels are 558.20, 548.70, 536.44, 523.72 and 497.53, with a daily risky level at 568.96, the June 30 all-time intraday high at 576.98 and semiannual risky level at 612.49.

10-Year Note - (2.626) Monthly and quarterly value levels are 2.787 and 3.048 with weekly, daily, annual and semiannual risky levels at 2.530, 2.528, 2.263, 1.999 and 1.779.

30-Year Bond - (3.466) Monthly and quarterly value levels are 3.486 and 3.971 with a weekly pivot at 3.423 and daily, annual and semiannual risky levels at 3.359, 3.283, 3.107 and 3.082.

Comex Gold - ($1327.3) Weekly, quarterly and monthly value levels are $1281.1, $1234.6 and $1233.8 with a daily pivot at $1329.0, and semiannual and annual risky levels at $1613.0, $1738.7, $1747.4 and $1818.8.

Nymex Crude Oil - ($104.12) No value levels with monthly and daily pivots at $105.23 and $104.31 and semiannual, annual, weekly and quarterly risky levels at $106.48, $107.52, $108.45 and $113.12..

The Euro - (1.3653) Weekly, annual and semiannual value levels are 1.3415, 1.3382 and 1.2203 with a daily pivot at 1.3687 and monthly, quarterly, semiannual and annual risky levels at 1.3819, 1.4079, 1.4617 and 1.5512.

The Dollar versus Japanese Yen - (101.78) My annual value level is 93.38 with daily and weekly pivots at 101.32 and 101.42 and monthly and quarterly risky levels at 106.47 and 112.83.

The British Pound - (1.7163) Weekly, quarterly and annual value levels are 1.6935, 1.6874 and 1.6262 with a daily pivot at 1.7130 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.

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