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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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  • The S&P 500 Failed At 1363.2 On Tuesday Flashing A Warning 0 comments
    Jun 21, 2012 5:48 PM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    The Key Levels for the US Capital Markets

    10-Year Note - (1.618) Semiannual and monthly value levels are 1.903 and 1.909 with a daily pivot at 1.633, and weekly, quarterly and semiannual risky levels at 1.452, 1.407 and 1.385.

    Comex Gold - ($1566.6) My annual value level is $1388.4 with weekly and annual pivots at $1583.8 and $1575.8, and daily, semiannual and monthly risky levels at $1616.0, $1635.8, $1659.4 and $1695.4. My quarterly risky level is $1871.9. The 50-day / 200-day SMAs: $1613.9 / $1674.7.

    Nymex Crude Oil - ($78.37) I show no nearby value levels with semiannual and weekly pivots at $79.83 and $78.40, and daily, quarterly, annual and semiannual risky levels at $82.86, $101.55, $103.58 and $104.84.

    The Euro - (1.2546) My weekly value level is 1.2288 with daily, monthly, semiannual and quarterly risky levels at 1.2718, 1.2815, 1.2980 and 1.3366. The June 2010 low is 1.1880.

    The major equity averages fell back below 50-day simple moving averages. Key pivots that were violated to the upside earlier in the week were the magnets pulling the averages back down on Thursday; 12,794 Q Dow Industrials, 1337.7 Q S&P 500, and 2911 Q NASDAQ. The most important warning was that the S&P 500 tested and failed at my annual pivot at 1363.2 on Tuesday. Remember that on Friday, March 9th we had a close above 1363.2, which led to upside. Then on Friday May 11th the close was below 1363.2, which fueled the downside.

    Daily Dow:(12,574) Weekly and annual value levels are 12,330 and 12,312 with a quarterly pivot at 12,794, and daily, annual and monthly risky levels at 12,931, 14,032 and 14,201.

    S&P 500 - (1325.5) My weekly value level is 1294.4 with my quarterly pivot at 1337.7, and daily, annual, monthly and annual risky levels at 1362.3, 1363.2, 1504.8 and 1562.9.

    NASDAQ - (2859) Weekly and annual value levels are 2761 and 2698 with a quarterly pivot at 2911, and daily, annual and monthly risky levels at 2933, 3232 and 3248.

    Dow Transports - (5126) My weekly value level at 4931 with daily and quarterly risky levels at 5255 and 5420, and the all time high set at 5627.85 on July 11, 2011.

    Russell 2000 - (764.83) My weekly value level is 744.89 with daily, quarterly and annual risky levels at 786.82, 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: The major equity averages fell back below 50-day simple moving averages. Key pivots that were violated to the upside earlier in the week were the magnets pulling the averages back down on Thursday; 12, 794 Q Dow Industrials, 1337.7 Q S P 500, and 2911 Q NA 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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