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  • Monthly Risky Levels Are Reachable This Week.  0 comments
    Jul 4, 2014 12:30 PM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    The weekly charts remain positive with overbought conditions on Dow Industrials, S&P 500, Nasdaq and Dow Transports and rising stochastics on the Russell 2000.

    The five-week modified moving averages are important to hold on a weekly closing basis at; 16790 Dow Industrial, 1937.2 S&P 500, 4317 Nasdaq, 8064 Dow Transports and 1169.14 Russell 2000.

    Dow Utilities were the YTD winner at the end of June but a weekly key reversal will be confirmed by lower closes this week and next. A weekly close below its five-week MMA at 551.48 is a warning.

    The year-to-date leader is the PHLX Semiconductor Index (SOX) up 21.6% year to dates setting a multiyear high on Friday.

    Dow Transports is above its quarterly pivot at 8256 which is a key level to hold this week.

    Weekly pivots / risky levels are 17072 Dow Industrials, 2006.6 S&P 500, 4570 Nasdaq, 8538 Dow Transports and 1222.94 Russell 2000.

    Semiannual and annual value levels are 16301, 14835 and 13437 Dow Industrials, 1789.3, 1539.1 and 1442.1 S&P 500, 3972, 3471, 3063 Nasdaq, 7423, 6249 and 5935 Dow Transports and 1139.81, 966.72 and 879.39 Russell 2000.

    Monthly, quarterly and semiannual risky levels are 17364, 17753 and 18522 Dow Industrials, 1994.2, 2052.3 and 2080.3 S&P 500, 4529, 4569 and 4642 Nasdaq, 8365 and 8447 Dow Transports and 1215.89, 1293.11 and 1285.37 on Russell 2000,

    Dow Industrials: (17068) Daily, semiannual and annual value levels are 16903, 16301, 14835 and 13467 with a weekly pivot at 17072, the July 3 all-time intraday high at 17074.65 and monthly, quarterly and semiannual risky levels at 17364, 17753 and 18552.

    S&P 500 - (1985.4) Daily, semiannual and annual value levels are 1972.2, 1789.3, 1539.1 and 1442.1 with the July 3 all-time intraday high at 1985.29 and monthly, weekly, quarterly and semiannual risky levels at 1994.2, 2006.5, 2052.3 and 2080.3.

    NASDAQ - (4486) Semiannual and annual value levels are 3972, 3471 and 3063 with a daily pivot at 4477, the July 3 multiyear intraday high at 4485.93 and monthly, quarterly, weekly and semiannual risky levels at 4529, 4569, 4570 and 4642.

    NASDAQ 100 (NDX) - (3923) Semiannual and annual value levels are 3515, 3078 and 2669 with daily and quarterly pivots at 3925 and 3894, the July 3 multiyear intraday high at 3923.15, and monthly, weekly and semiannual risky levels at 3936, 4014 and 4105.

    Dow Transports - (8295) Daily, semiannual and annual value levels are 8252, 7423, 6249 and 5935 with a quarterly pivot at 8256, the July 2 all-time intraday high at 8298.17 and monthly, semiannual and weekly risky levels at 8365, 8447 and 8538.

    Russell 2000 - (1208.15) Daily, semiannual and annual value levels are 1201.91, 1139.81, 966.72 and 879.39 with the July 1 all-time intraday high at 1213.55, and monthly, weekly, semiannual and quarterly risky levels at 1215.89, 1222.94, 1285.37 and 1293.11.

    The SOX - (650.55) Daily, quarterly, semiannual and annual value levels are 643.41, 626.96, 608.02, 512.94, 371.58 and 337.74 with a monthly pivot at 642.34, and the July 3 multiyear intraday high 651.42 and weekly risky level at 663.15.

    Dow Utilities: (554.27) Annual, quarterly, semiannual and annual value levels are 548.70, 536.44, 523.72 and 497.53, with weekly, monthly and daily risky levels at 561.34, 563.54 and 566.18, the June 30 all-time intraday high at 576.98 and semiannual risky level at 612.49.

    10-Year Note - (2.645) Monthly and quarterly value levels are 2.787 and 3.048 with daily, weekly, annual and semiannual risky levels at 2.536, 2.528, 2.263, 1.999 and 1.779.

    30-Year Bond - (3.479) Monthly and quarterly value levels are 3.486 and 3.971 with daily, weekly, annual and semiannual risky levels at 3.368,3.355, 3.283, 3.107 and 3.082.

    Comex Gold - ($1320.5) Weekly, quarterly and monthly value levels are $1298.0, $1234.6 and $1233.8 with a daily pivot at $1326.3, and semiannual and annual risky levels at $1613.0, $1738.7, $1747.4 and $1818.8.

    Nymex Crude Oil - ($103.71) No value levels with daily and monthly pivots at $104.12 and $105.23, and semiannual, annual, weekly and quarterly risky levels at $106.48, $107.52, $108.56 and $113.12..

    The Euro - (1.3606) Weekly, annual and semiannual value levels are 1.3486, 1.3382 and 1.2203 with a daily pivot at 1.3670 and monthly, quarterly, semiannual and annual risky levels at 1.3819, 1.4079, 1.4617 and 1.5512.

    The Dollar versus Japanese Yen - (102.20) My annual value level is 93.38 with daily and weekly pivots at 101.61 and 102.13 and monthly and quarterly risky levels at 106.47 and 112.83.

    The British Pound - (1.7153) Weekly, quarterly and annual value levels are 1.7045, 1.6874 and 1.6262 with a daily pivot at 1.7145 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
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