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The Russell 2000 Is Now Below Its Five-Week Modified Moving Average

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

The weekly charts remain positive but overbought for Dow Industrials, S&P 500, S&P 500, Nasdaq and Dow Transports, but not for the Russell 2000. The Russell 2000 has a neutral weekly chart as its 12x3x3 weekly slow stochastic is rising.

The major averages straddle their five-week modified moving averages at 16822 Dow Industrials, 1943.4 S&P 500, 4337 Nasdaq, 8103 Dow Transports and 1167.45 Russell 2000.

Dow Transports is below its quarterly pivot at 8256 which is a warning.

This week's risky levels are 17237 Dow Industrials, 2023.1 S&P 500, 4608 Nasdaq, 8494 Dow Transports and 1229.20 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: (16944) Semiannual and annual value levels are 16301, 14835 and 13467 with the July 3 all-time intraday high at 17074.65 and daily, weekly, monthly, quarterly and semiannual risky levels at 17111, 17237, 17364, 17753 and 18552.

S&P 500 - (1967.6) Semiannual and annual value levels are 1789.3, 1539.1 and 1442.1 with the July 3 all-time intraday high at 1985.29 and daily, monthly, weekly, quarterly and semiannual risky levels at 1983.6, 1994.2, 2023.1, 2052.3 and 2080.3.

NASDAQ - (4415) Semiannual and annual value levels are 3972, 3471 and 3063 with the July 3 multiyear intraday high at 4485.93 and daily, monthly, quarterly, weekly and semiannual risky levels at 4457, 4529, 4569, 4608 and 4642.

NASDAQ 100 (NDX) - (3905) Semiannual and annual value levels are 3515, 3078 and 2669 with a quarterly pivot 3894, the July 3 multiyear intraday high at 3923.15, and daily, monthly, weekly and semiannual risky levels at 3944, 3936, 4049 and 4105.

Dow Transports - (8254) Semiannual and annual value levels are 7423, 6249 and 5935 with a quarterly pivot at 8256, the July 3 all-time intraday high at 8298.17 and daily, monthly, semiannual and weekly risky levels at 8282, 8365, 8447 and 8494.

Russell 2000 - (1159.93) Semiannual and annual value levels are 1139.81, 966.72 and 879.39 with the July 1 all-time intraday high at 1213.55, and daily, monthly, weekly, semiannual and quarterly risky levels at 1168.83, 1215.89, 1229.20, 1285.37 and 1293.11.

The SOX - (643.88) Quarterly, semiannual and annual value levels are 626.96, 608.02, 512.94, 371.58 and 337.74 with a monthly pivot at 642.34, the July 3 multiyear intraday high 651.42 and daily and weekly risky levels at 654.64 and 676.71.

Dow Utilities: (559.43) Daily, annual, quarterly, semiannual and annual value levels are 544.33, 548.70, 536.44, 523.72 and 497.53, with weekly and monthly pivots at 569.49 and 563.54, the June 30 all-time intraday high at 576.98 and semiannual risky level at 612.49.

10-Year Note - (2.518) Weekly, daily, monthly and quarterly value levels are 2.597, 2.633, 2.787 and 3.048 with annual and semiannual risky levels at 2.263, 1.999 and 1.779.

30-Year Bond - (3.342) Weekly, daily, monthly and quarterly value levels are 3.442, 3.451, 3.486 and 3.971 with annual and semiannual risky levels at 3.283, 3.107 and 3.082.

Comex Gold - ($1339.2) Daily, weekly, quarterly and monthly value levels are $1328.6, $1308.8, $1234.6 and $1233.8 and semiannual and annual risky levels at $1613.0, $1738.7, $1747.4 and $1818.8.

Nymex Crude Oil - ($100.72) A daily pivot is $100.52, with monthly, weekly, semiannual, annual and quarterly risky levels at $105.23, $105.44, $107.52 and $113.12..

The Euro - (1.3609) Daily, weekly, annual and semiannual value levels are 1.3557, 1.3531, 1.3382 and 1.2203 with monthly, quarterly, semiannual and annual risky levels at 1.3819, 1.4079, 1.4617 and 1.5512.

The Dollar versus Japanese Yen - (101.32) My annual value level is 93.38 with daily and weekly pivots at 101.91 and 102.16 and monthly and quarterly risky levels at 106.47 and 112.83.

The British Pound - (1.7120) Quarterly and annual value levels are 1.6874 and 1.6262 with weekly and daily pivots at 1.7144 and 1.7169 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