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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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  • Closes Below The Five-Week MMAs This Week Would Be A Negative 0 comments
    Aug 2, 2014 10:20 AM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    All five major equity averages ended last week below their five-week modified moving averages at 16814 Dow Industrials, 1949.8 S&P 500, 4369 Nasdaq, 8195 Dow Transports and 1150.95 Russell 2000. The 12x3x3 weekly slow stochastics remain overbought except for the Russell 2000.

    The July 31 monthly closes and the August 1 weekly closes have established risky levels below the all-time or multiyear highs set in July. Weekly and monthly risky levels are 16772 and 16871 Dow Industrials, 1966.1 and 1970.2 S&P 500, 4471 and 4450 Nasdaq, 8241 and 8292 Dow Transports and 1153.62 and 1156.01 Russell 2000.

    The all-time or multiyear intraday highs and the dates set are 17151.56 (July 17) Dow Industrials, 1991.39 (July 24) S&P 500 (7/24), 4485.93 (July 3) Nasdaq, 8515.04 (July 23) Dow Transports, and 1213.55 (July 1) Russell 2000).

    Semiannual and annual value levels / pivots remain at 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. The Russell 2000 is below 1139.81 making this a pivot.

    Quarterly and semiannual risky levels or pivots remain at are 17753 and 18522 Dow Industrials, 2052.3 and 2080.3 S&P 500, 4569 and 4642 Nasdaq, 8256 and 8447 Dow Transports and 1293.11 and 1285.37 on the Russell 2000. Transports set its high above these levels, but is back below them,

    The Dow Utility Average has still has a negative weekly chart with its five-week MMA at 552.10 after setting an all-time intraday high at 576.98 on June 30.

    The weekly chart for the PHLX Semiconductor Index (SOX) shifts to negative on a close this week below its five-week MMA at 621.97 after setting a multiyear intraday high at 652.28 on July 16.

    The Housing Sector Index (HGX) still has a negative weekly chart with its five-week MMA at 198.10 after failing to stay above its 61.8% Fibonacci retracement at 202.05 from the decline from the mid-2005 high to the March 2009 low.

    The ABA Community Bank Index (ABAQ) still has a negative weekly chart and below its 61.8% retracement from its high in December 2006 to the March 2009 low.

    The KBW Banking Index now has a negative weekly chart and is just below its 50.0% retracement from its high in December 2006 to the March 2009 low.

    Dow Industrials: (16493) Semiannual and annual value levels are 16301, 14835 and 13467 with daily, weekly and monthly risky levels at 16543, 16772 and 16871, the July 17 all-time intraday high at 17151.56, and quarterly and semiannual risky levels at 17753 and 18552.

    S&P 500 - (1925.2) Semiannual and annual value levels are 1789.3, 1539.1 and 1442.1 with daily, weekly and monthly risky levels at 1939.4, 1966.1 and 1970.2, the July 24 all-time intraday high at 1991.39, and quarterly and semiannual risky levels at 2052.3 and 2080.3.

    NASDAQ - (4353) Semiannual and annual value levels are 3972, 3471 and 3063 with daily, weekly and monthly risky levels at 4393, 4471 and 4450, the July 3 multiyear intraday high at 4485.93 and quarterly and semiannual risky levels at 4569 and 4642.

    NASDAQ 100 (NDX) - (3880) Semiannual and annual value levels are 3515, 3078 and 2669 with a quarterly pivot at 3894, daily, weekly and monthly risky levels at 3935, 3964 and 3925, the July 24 multiyear intraday high at 3997.50, and semiannual risky level at 4105.

    Dow Transports - (8121) Semiannual and annual value levels are 7423, 6249 and 5935 with a daily pivot at 8117, weekly, monthly, quarterly and semiannual risky levels at 8241, 8292, 8256 and 8447 and the July 23 all-time intraday high at 8515.04.

    Russell 2000 - (1114.86) Annual value levels are 966.72 and 879.39 with daily and semiannual pivots 1118.65 and 1139.81, weekly and monthly risky levels at 1153.62 and 1156.01, the July 1 all-time intraday high at 1213.55, and semiannual and quarterly risky levels at 1285.37 and 1293.11.

    The SOX - (609.76) Daily, semiannual and Annual value levels are 585.83, 512.94, 371.58 and 337.74 with semiannual and quarterly pivots at 608.02 and 626.96, a weekly risky level at 641.91, the July 16 multiyear intraday high 652.28 and monthly risky level at 654.50.

    Dow Utilities: (540.69) Quarterly, semiannual and annual value levels are 536.44, 523.72 and 497.53, with an annual pivot at 548.70, with daily, weekly and monthly risky levels at 545.07, 559.17 and 579.73, the June 30 all-time intraday high at 576.98 and semiannual risky level at 612.49.

    10-Year Note - (2.496) My quarterly value level is 3.048 with daily, weekly and monthly pivots at 2.530, 2.480 and 2.545 and annual and semiannual risky levels at 2.263, 1.999 and 1.779.

    30-Year Bond - (3.283) My quarterly value level is 3.971 with daily, weekly and annual pivots at 3.296, 3.256 and 3.383 and monthly, annual and semiannual risky levels at 3.178, 3.107 and 3.082.

    Comex Gold - ($1294.9) My quarterly value level is $1234.6 with daily and monthly pivots at $1288.7 and $1304.3 and weekly, semiannual and annual risky levels at $1364.0, $1613.0, $1738.7, $1747.4 and $1818.8.

    Nymex Crude Oil - ($97.61) No value levels with a daily pivot at $98.11 and weekly, semiannual, annual, monthly and quarterly risky levels at $102.52,$106.48, $107.52 and $107.70.

    The Euro - (1.3424) Daily, weekly and annual pivots are 1.3382, 1.3422 and 1.3382 with monthly, quarterly, semiannual and annual risky levels at 1.3703, 1.4079, 1.4617 and 1.5512.

    The Dollar versus Japanese Yen - (102.56) An annual value level is 93.38 with daily, weekly and monthly pivots at 102.98, 101.32 and 102.76 and quarterly risky level at 112.83.

    The British Pound - (1.6823) My annual value level is 1.6262 with daily and quarterly pivots at 1.6795 and 1.6874 and monthly, weekly, semiannual and monthly risky levels at 1.7177, 1.7194 and 1.7302.

    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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