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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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  • Stocks Are On A Roll, But Closing In On Weekly Risky Levels. 0 comments
    Aug 6, 2012 5:51 PM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    10-Year Note - (1.560) Daily, semiannual and quarterly value levels are 1.637, 1.853 and 1.869 weekly, monthly and semiannual risky levels at 1.507, 1.468 and 1.389.

    Comex Gold - ($1611.7) Annual and monthly value levels are $1575.8 and $1525.3 with weekly and daily pivots at $1602.3 and $1617.5, and semiannual and quarterly risky levels at $1643.3, $1702.5 and $1805.8.

    Nymex Crude Oil - ($92.11) My semiannual value level is $76.71 with daily, weekly and monthly pivots at $90.57, $90.04 and $90.40, and annual and quarterly risky levels at $103.58 and $107.63.

    The Euro - (1.2397) Weekly and monthly pivots are 1.2303 and 1.2237 with a daily risky level at 1.2449. The weekly chart for the euro remains oversold with the five-week modified moving average at 1.2422.

    The major equity averages are approaching this week's risky levels at 13,208 Dow Industrials, 1403.7 S&P 500, 3001 NASDAQ, 5192 Dow Transports, and 812.50 Russell 2000. The key value level is 1363.2 on the S&P 500. The other annual value levels are 12,312 Dow Industrials and 2698 NASDAQ.

    Daily Dow:(13,118) Annual and semiannual value levels are 12,312 and 10,738 with daily, weekly and monthly risky levels at 13,375, 13,208 and 13,625. The weekly chart profile stays positive on a weekly close above the five-week modified moving average at 12,871.

    S&P 500 - (1394.2) My annual pivot at 1363.2 with daily, weekly and monthly risky levels at 1424.4, 1403.7 and 1458.2. The weekly chart profile stays positive on a weekly close above the five-week modified moving average at 1364.1.

    NASDAQ - (2990) Annual and semiannual value levels are 2698 and 2527 with daily, weekly, monthly and annual risky levels at 3038, 3001, 3194 and 3232. The weekly chart profile stays positive on a weekly close above the five-week modified moving average at 2930.

    Dow Transports - (5086) I show no nearby value levels with daily, weekly and monthly risky levels at 5191, 5192 and 5373. The weekly chart profile needs a weekly close above the five-week modified moving average at 5119 to turn positive.

    Russell 2000 - (788.48) I show no nearby value levels with daily, annual, weekly and monthly risky levels at 798.87, 812.50, 841.66 and 846.16. The weekly chart profile needs a weekly close above the five-week modified moving average at 790.27 to turn positive.

    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

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