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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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  • A False Breakout On Overnight Strength On Spain Bailout 0 comments
    Jun 11, 2012 8:00 PM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    The Key Levels for the US Capital Markets

    10-Year Note - (1.598) Semiannual and monthly value levels are 1.903 and 1.909 with daily, weekly, quarterly and semiannual risky levels at 1.547, 1.515, 1.407 and 1.385.

    Comex Gold - ($1600.4) My annual value level is $1388.4 with weekly and annual pivots at $1566.7 and $1575.8, and daily, semiannual and monthly risky levels at $1644.7, $1635.8, $1659.4 and $1695.4. My quarterly risky level is $1871.9. The 50-day / 200-day SMAs: $1617.6 / $1682.1.

    Nymex Crude Oil - ($81.59) Daily and semiannual value levels are $80.40 and $79.83 with a weekly pivot at $82.90, and quarterly, annual and semiannual risky levels at $101.55, $103.58 and $104.84.

    The Euro - (1.2484) A monthly value level is 1.2064 with weekly and daily pivots at 1.2514 and 1.2600, and monthly, semiannual and quarterly risky levels at 1.2815, 1.2980 and 1.3366. The June 2010 low is 1.1880.

    Theoretically the three major equity averages traded above some key levels overnight into Monday. The Dow Industrials probably would have peaked overnight below my quarterly risky level at 12,794. The S&P 500 probably peaked between my quarterly and annual risky levels at 1337.7 and 1363.2. The NASDAQ was likely above my quarterly risky level at 2911. The fact that the top three of the major equity averages stayed shy of all of these levels during US hours I call it a false breakout.

    Daily Dow:(12,411) Annual and daily value levels are 12,312 and 12,245 with a weekly pivot at 12,521, and my quarterly risky level at 12,794, and annual and monthly risky levels are 14,032 and 14,201.

    S&P 500 - (1308.9) Weekly and daily value levels are 1306.8 and 1292.4 with quarterly, annual, monthly and annual risky levels at 1337.7, 1363.2, 1504.8 and 1562.9.

    NASDAQ - (2810) Daily, weekly and annual value levels are 2777, 2775 and 2698 with quarterly, annual and monthly risky levels at 2911, 3232 and 3248.

    Dow Transports - (4992) Weekly and daily value levels are 4994 and 4920 with a quarterly risky level at 5420, and the all time high set at 5627.85 on July 11, 2011.

    Russell 2000 - (751.01) Weekly and daily value levels are 759.45 and 744.51 with quarterly and annual risky levels at 829.34 and 836.15, and the all time high set at 868.57 on May 2, 2011.

    VE Morning Briefing - If you want expanded analysis of the US Capital Markets go to this link and sign up: http://www.valuengine.com/nl/mainnl?nl=D

    Themes: Theoretically the three major equity averages traded above some key levels overnight into Monday. The Dow Industrials probably would have peaked overnight below my quarterly risky level at 12, 794. Stocks: TLT, GLD, XLE, DIA, QQQ, SPY
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The Dow Industrial Average is below weekly and quarterly pivots at 12, 000, 000 Predictions, 003 Dow Industrials, 033 shifts the weekly chart to negative with my quarterly pivot at 12, 104 and 802.51 with weekly risky levels at 1406.6 SPX, 104 and the Russell 2000 closed above its weekly pivot at 802.51. Weekly risky levels remain at 1406.6 SPX, 104 Dow Industrials, 1375.7 SPX, 1376.3 SPX, 1376.4 SPX, 1397.0 S P 500, 1406.6 SPX, 200-day SMA, 2011, 210 and May’s risky level at 13, 210. , 2999 NASDAQ, 3002 NASDAQ, 3041 NASDAQ, 3097 NASDAQ, 3097 NASDAQ and 5326 Dow Transports., 3097 NASDAQ and 5326 Dow Transports. , 312. A weekly close below my annual pivot at 1363.2 is negative. , 312. The S P 500 is below my annual pivot at 1363.2 with my quarterly pivot at 1337.7., 338.66 shy of May’s risky level at 13, 354 Dow Industrials, 354 with this week’s pivot at 13, 354., 354. The S P 500 is between my monthly pivot at 1397.0 and weekly risky level at 1415.8. , 491, 491 and S P 500 1210.7, 5000 stocks in SPX, 507, 5228 Dow Transports and 812.71 Russell 2000. , 5229 Dow Transports and 811.00 Russell 2000. This keeps the Bull versus Bear Debate alive and kicking. , 5232 Dow Transports, 5326 Dow Transports and 802.51. , 5385 Dow Transports and 813.56 Russell 2000. , 692 and 12, 775 for the Dow Industrial Average, 794 and 12, 794 and annual value level at 12, 794 and my monthly risky level at 13, 794 with my annual value level at 1, 798 with my annual value level at 12, 944 Indicates Risk To 11, 964 Dow Industrials, 977, 978 Dow Industrials,
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