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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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  • It Appears That 4 Of The 5 Major Averages Will End The Week Negative. 0 comments
    Aug 7, 2014 9:17 PM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    The five major averages remain 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.

    It appears that we need to allow the Nasdaq another week to either save the bulls, or shift to negative on a weekly close below its five week MMA. If not, all five major averages will be simultaneously negative indicating significant downside risk.

    Monthly risky levels are below the July highs at 16871 Dow Industrials, 1970.2 S&P 500, 4450 Nasdaq, 8292 Dow Transports 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 below is 1139.81.

    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.

    Dow Industrials: (16368) Semiannual, daily and annual value levels are 16310, 16135, 14835 and 13467 with weekly and monthly risky levels at 16472, 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 - (1909.6) Daily, semiannual and annual value levels are 1886.5, 1789.3, 1539.1 and 1442.1 with weekly and monthly risky levels at 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 - (4335) Daily, semiannual and annual value levels are 4308, 3972, 3471 and 3063 with weekly and monthly risky levels at 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) - (3858) Daily, semiannual and annual value levels are 3829, 3515, 3078 and 2669 with a quarterly pivot at 3894, weekly and monthly risky levels at 3964 and 3925, the July 24 multiyear intraday high at 3997.50, and semiannual risky level at 4105.

    Dow Transports - (7992) Daily, semiannual and annual value levels are 7880, 7423, 6249 and 5935 with 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 - (1119.75) Daily and annual value levels are 1112.63, 966.72 and 879.39 with a semiannual pivot at 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 - (599.38) Semiannual and annual value levels are 600.98, 512.94, 371.58 and 337.74 with daily, semiannual and quarterly pivots at 600.98, 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: (530.78) Semiannual, daily and annual value levels are 523.72,513.20 and 497.53, with quarterly and annual pivots at 536.44 and 548.70, weekly and monthly risky levels at 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 - (2.426) Daily, weekly, monthly, quarterly value levels are 2.480, 2.480, 2.545 and 3.048 with annual and semiannual risky levels at 2.263, 1.999 and 1.779.

    30-Year Bond - (3.235) Daily and quarterly value levels are 3.287 and 3.971 with annual and weekly pivots at 3.283 and 3.256, and monthly, annual and semiannual risky levels at 3.178, 3.107 and 3.082.

    Comex Gold - ($1313.6) Daily and quarterly value levels are $1292.7 and $1234.6 with a monthly pivot at $1304.3 and weekly, semiannual and annual risky levels at $1364.0, $1613.0, $1738.7, $1747.4 and $1818.8.

    Nymex Crude Oil - ($97.54) A daily value level is $94.82 with weekly, semiannual, annual, monthly and quarterly risky levels at $102.52,$106.48, $107.52 and $107.70.

    The Euro - (1.3361) My semiannual value level is 1.2203 with daily and annual pivots at 1.3347 and 1.3382 and weekly, monthly and quarterly risky levels at 1.3422, 1.3703 and 1.4079.

    The Dollar versus Japanese Yen - (102.02) An annual value level is 93.38 with weekly, monthly and daily pivots at 101.32, 102.76 and 102.94, and a quarterly risky level at 112.83.

    The British Pound - (1.6823) My annual value level is 1.6262 with a quarterly pivot at 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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