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Richard Suttmeier
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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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  • No Signals Confirming A Top And No Signals Calling For New Highs.  0 comments
    Aug 16, 2014 12:05 PM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    The five major equity averages ended last week straddling their five-week modified moving averages. Dow Industrials and Russell 2000 are below their five-week MMAs at 16742 and 1145.59, respectively. The S&P 500, Nasdaq and Dow Transports are above their five-week MMAs at 1947.8, 4387 and 8193, respectively.

    Four of five have declining 12x3x3 weekly slow stochastics with the Nasdaq still overbought with a reading of 82.50 versus 84.60 a week ago. The overbought threshold is 80.00 on a scale of 00.00 to 100.00.

    Weekly pivots straddle the weekly closes at 16675 Dow Industrials, 1956.6 S&P 500, 4484 Nasdaq, 8301 Dow Transports, and 1119.01 Russell 2000. This makes the overall neutral zone between a value level 1119.01 Russell 2000 with pivots at 16675 and 1956.6 S&P 500, and risky levels at 4484 Nasdaq and 8301 Dow Transports.

    Monthly pivots are 4450 Nasdaq and 8292 Dow Transports with monthly risky levels at 16871 Dow Industrials, 1979.2 S&P 500 and 1156.01 Russell 2000.

    All weekly and monthly levels sets up volatility below the all-time or multiyear intraday highs at 17151.56 (July 17) Dow Industrials, 1991.39 (July 24) S&P 500 (July 24), 4485.93 (July 3) Nasdaq, 8515.04 (July 23) Dow Transports, and 1213.55 (July 1) Russell 2000).

    Semiannual and annual value levels remain at 16301, 14835 and 13437 Dow Industrials, 1789.3, 1539.1 and 1442.1 S&P 500, 3972, 3471 and 3063 Nasdaq, 7423, 6249 and 5935 Dow Transports and 966.72 and 879.39 Russell 2000. There's a semiannual pivot at 1139.81 on the Russell 2000.

    Quarterly and semiannual risky levels remain at 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 making them pivots.

    The Dow Utility Average has a negative weekly chart with its five-week MMA at 550.07 after setting an all-time intraday high at 576.98 on June 30.

    The PHLX Semiconductor Index (SOX) has a neutral weekly chart with its five-week MMA at 619.91 after setting a multiyear intraday high at 652.28 on July 16.

    The Housing Sector Index (HGX) has a negative weekly chart with its five-week MMA at 196.32.

    The Community Bank Index (ABAQ) has a negative weekly chart with its five-week MMA at 229.86.

    The KBW Banking Index has a negative weekly chart with its five-week MMA at 70.18.

    Dow Industrials:(16663) Semiannual and annual value levels are 16310, 14835 and 13467 with weekly and daily pivots at 16675 and 16723, the July 17 all-time intraday high at 17151.56, and quarterly and semiannual risky levels at 17753 and 18552.

    S&P 500 - (1955.1) Semiannual and annual value levels are 1789.3, 1539.1 and 1442.1 with daily and weekly pivots at 1956.3 and 1956.6, a monthly risky level at 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 - (4465) Semiannual and annual value levels are 3972, 3471 and 3063 with monthly and daily pivots at 4450 and 4462, a weekly risky levels at 4484, the July 3 multiyear intraday high at 4485.93 and quarterly and semiannual risky levels at 4569 and 4642.

    NASDAQ 100 (NDX) - (3988) Daily, monthly, quarterly, semiannual and annual value levels are 3976, 3925, 3894, 3078 and 2669 with the July 24 multiyear intraday high at 3997.50, and weekly and semiannual risky levels at 4046 and 4105.

    Dow Transports - (8264) Semiannual and annual value levels are 7423, 6249 and 5935 with daily, monthly and quarterly pivots at 8253, 8292 and 8256, weekly and semiannual risky levels at 8301 and 8447 and the July 23 all-time intraday high at 8515.04.

    Russell 2000 - (1141.65) Weekly and annual value levels are 1119.01, 966.72 and 879.39 with a semiannual pivots at 1139.81, a monthly risky level at 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- (624.60) Semiannual and annual value levels are 608.02, 512.94, 371.58 and 337.74 with daily, weekly and quarterly pivots at 621.59, 619.91 and 626.96, the July 16 multiyear intraday high 652.28 and monthly risky level at 654.50.

    Dow Utilities:(548.81) Weekly, quarterly, semiannual and annual value levels are 540.66, 536.44, 523.72 and 497.53, with daily and annual pivots at 549.24 and 548.70, the June 30 all-time intraday high at 576.98 and monthly and semiannual risky levels at 579.73 and 612.49.

    10-Year Note - (2.342) Monthly, quarterly value levels are 2.545 and 3.048 with daily and weekly pivots at 2.339 and 2.324 and annual and semiannual risky levels at 2.263, 1.999 and 1.779.

    30-Year Bond - (3.132) A quarterly value level is 3.971 with daily, monthly and annual pivots at 3.155, 3.178 and 3.283 and weekly, annual and semiannual risky levels at 3.108, 3.107 and 3.082.

    Comex Gold - ($1305.5) A quarterly value level is $1234.6 with monthly and weekly pivots at $1304.3 and $1312.8 and daily, semiannual and annual risky levels at $1335.1, $1613.0, $1738.7, $1747.4 and $1818.8.

    Nymex Crude Oil - ($97.07) A weekly value level is $94.39 with a daily pivot at $96.84 and semiannual, annual, monthly and quarterly risky levels at $106.48, $107.52 and $107.70.

    The Euro - (1.3397) My semiannual value level is 1.2203 with daily, weekly and annual pivots at 1.3388, 1.3392 and 1.3382 and monthly and quarterly risky levels at 1.3703 and 1.4079.

    The Dollar versus Japanese Yen - (102.34) An annual value level is 93.38 with daily, weekly and monthly and daily pivots at 101.89, 101.80 and 102.76, and a quarterly risky level at 112.83.

    The British Pound - (1.6693) My annual value level is 1.6262 with a daily pivot at 1.6639, and quarterly, monthly and semiannual risky levels at 1.6874, 1.7177 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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