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Weekly Charts Are Positive With S&P 500, Nasdaq, Transports Overbought.

Sep. 13, 2014 11:02 AM ETTLT, GLD, XLE, DIA, QQQ, SPY
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The five major equity averages ended last week above their five-week modified moving averages at 16929 Dow Industrials, 1976.6 S&P 500, 4495 Nasdaq, 8385 Dow Transports and 1157.54 Russell 2000. There is a convergence between slightly lower weekly closes versus rising moving averages.

The S&P 500, Nasdaq and Dow Transports have overbought 12x3x3 weekly slow stochastics while readings for Dow Industrials and Russell 2000 are rising.

The all-time or multiyear intraday highs are 17161.55 (Sept. 4) Dow Industrials, 2011.17 (Sept. 4) S&P 500, 4610.14 (Sept 3) Nasdaq, 8607.65 (Sept. 9) Dow Transports, and 1213.55 (July 1) Russell 2000).

New weekly value levels are 16852 Dow Industrials, 1968.6 S&P 500, 8381 Dow Transports and 1150.31 on the Russell 2000 with a weekly pivot at 4562 on the Nasdaq.

Monthly value levels are 16615 Dow Industrials, 1978.2 S&P 500, 4469 Nasdaq, 8410 Dow Transports and 1149.70 on the 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.

Quarterly and semiannual risky levels remain at 17753 and 18522 Dow Industrials, 2052.3 and 2080.3 S&P 500, 4642 Nasdaq and 1293.11 and 1285.37 on the Russell 2000.

Quarterly and semiannual pivots are 4569 Nasdaq, 8256 and 8447 Dow Transports and 1139.81 Russell 2000.

Dow Industrials: (16,988) Weekly, monthly, semiannual and annual value levels are 16852, 16615, 16310, 14835 and 13467 with a daily risky level at 17044, the Sept. 4 all-time intraday high at 17161.55 and quarterly and semiannual risky levels at 17170, 17753 and 18552.

S&P 500 - (1985.5) Weekly, monthly, weekly, semiannual and annual value levels are 1968.6, 1978.2, 1789.3, 1539.1 and 1442.1 with a daily pivot at 1988.9, the Sept. 4 all-time intraday high at 2011.17, and quarterly and semiannual risky levels at 2052.3 and 2080.3.

NASDAQ - (4568) Monthly, semiannual and annual value levels are 4469, 3972, 3471 and 3063 with daily, weekly and quarterly pivots at 4552, 4562 and 4569, the Sept. 3 multiyear intraday high at 4610.14 and semiannual risky level at 4642.

NASDAQ 100 (NDX) - (4069) Monthly, quarterly, semiannual and annual value levels are 3972, 3894, 3515, 3078 and 2669 with daily and weekly pivots at 4062 and 4079, a semiannual pivot at 4105 and the Sept. 9 multiyear intraday high at 4110.86.

Dow Transports - (8552) Weekly, semiannual, monthly, quarterly, semiannual and annual value levels are 8381, 8447, 8447, 8410, 8256, 7423, 6249 and 5935 with a daily pivot at 8577 and the Sept. 8 all-time intraday high at 8607.65.

Russell 2000 - (1160.61) Daily, weekly, monthly, semiannual and annual value levels are 1153.62, 1150.31, 1149.70, 1142.10, 1139.81, 966.72 and 879.39 with the July 1 all-time intraday high at 1213.55 and semiannual and quarterly risky levels at 1285.37 and 1293.11.

The SOX - (639.89) Quarterly, weekly, semiannual and annual value levels are 626.96, 617.28, 608.02, 512.94, 371.58 and 337.74 with a daily risky level at 649.58, the Sept. 8 multiyear intraday high 656.03 and monthly risky level at 662.59.

Dow Utilities: (549.64) Weekly, annual, quarterly, semiannual and annual value levels are 546.59, 548.70, 536.44, 523.72 and 497.53, with a daily risky level at 557.84, the June 30 all-time intraday high at 576.98 and monthly and semiannual risky levels at 598.26 and 612.49.

10-Year Note - (2.614) A quarterly value level is 3.048 with a daily pivot at 2.597 and weekly, monthly and semiannual risky levels at 2.441, 2.263, 2.071, 1.999 and 1.779.

30-Year Bond - (3.348) A quarterly value level is 3.971 with daily and annual pivots at 3.334 and 3.283 and annual, semiannual and weekly risky levels at 3.107, 3.082 and 3.079, and monthly and semiannual risky levels at 2.791 and 2.487.

Comex Gold - ($1230.8) No value levels with quarterly, daily and weekly pivots at value levels are $1234.6, 1237.8 and $1251.6 and monthly, semiannual and annual risky levels at $1372.2, $1613.0, $1738.7, $1747.4 and $1818.8.

Nymex Crude Oil - ($92.23) A weekly value level is $88.41 with a daily pivot at $93.23 and monthly, semiannual, annual and quarterly risky levels at $101.21, $106.48, $107.52 and $107.70.

The Euro - (1.2952) Weekly, daily and semiannual value levels are 1.2899, 1.2784 and 1.2203 with monthly, annual and quarterly risky levels at 1.3340, 1.3382 and 1.4079.

The Dollar versus Japanese Yen - (107.34) Monthly and annual value levels are 99.92 and 93.38 with daily and weekly pivots at 107.30 and 106.78 with a quarterly risky level at 112.83.

The British Pound - (1.6258) Weekly and daily value levels are 1.6088 and 1.6037 with quarterly and monthly risky levels at 1.6874 and 1.6928.

To learn more about ValuEngine check out www.ValuEngine.com. Any comments or questions contact me at RSuttmeier@gmail.com.

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