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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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  • Weekly Pivots On The Dow & S&P 500 Were Magnets On Monday. 0 comments
    Aug 13, 2012 5:56 PM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    10-Year Note - (1.656) Daily and semiannual value levels are 1.701 and 1.853 with weekly, monthly and semiannual risky levels at 1.586, 1.468 and 1.389. A weekly close with the yield above the five-week modified moving average at 1.600 favors higher yields.

    Comex Gold - ($1609.1) Annual, weekly and monthly value levels are $1575.8, $1573.6 and $1525.3 with a daily pivot at $1618.8, and semiannual risky levels at $1643.3 and $1702.5. The weekly chart stays positive on a weekly close above the five-week modified moving average at $1605.7.

    Nymex Crude Oil - ($92.82) My weekly and monthly pivots are $92.83 and $90.40 with daily, annual and quarterly risky levels at $95.66, $103.58 and $107.63. The weekly chart stays positive on a weekly close above the five-week modified moving average at $89.87.

    The Euro - (1.2334) My weekly value level is 1.2047 with a monthly pivot at 1.2237 and daily risky level at 1.2436. The weekly chart shifts to positive on a weekly close above the five-week modified moving average at 1.2395.

    Stocks stabilized on Monday morning after Dow Industrials held my weekly pivot at 13,118, which pulled the S&P 500 back up to its weekly pivot at 1403.8. The NASDAQ, Dow Transports and Russell 2000 stayed below their weekly pivots / risky levels at 3031, 5152 and 819.98 respectively. My monthly risky levels are; 13,625 for Dow Industrials, 1458.2 S&P 500, 3194 NASDAQ, 5373 Dow Transports, and 846.16 Russell 2000. Annual and semiannual value levels are 12,312 and 10,738 Dow Transports, 1363.2 and 1059.7 S&P 500, 2698 and 2527 NASDAQ, 4449 and 4129 Dow Transports and 686.25 on Russell 2000.

    Daily Dow:(13,169) Annual and semiannual value levels are 12,312 and 10,738 with a weekly pivot at 13,118, and daily and monthly risky levels at 13,279 and 13,625. The weekly chart profile stays positive on a weekly close above the five-week modified moving average at 12,938.

    S&P 500 - (1404.1) My annual value level is 1363.2 with a weekly pivot at 1403.8, and daily and monthly risky levels at 1418.2 and 1458.2. The weekly chart profile stays positive on a weekly close above the five-week modified moving average at 1372.4.

    NASDAQ - (3023) Annual and semiannual value levels are 2698 and 2527 with a weekly pivot at 3031, and daily, monthly and annual risky levels at 3075, 3194 and 3232. The weekly chart profile stays positive on a weekly close above the five-week modified moving average at 2948.

    Dow Transports - (5062) Semiannual value levels are 4449 and 4129 with daily, weekly and monthly risky levels at 5136, 5152 and 5373. The weekly chart profile needs a weekly close above the five-week MMA at 5108 to turn neutral or positive. The all time high is 5627.85 set on July 7, 2011.

    Russell 2000 - (799.49) my semiannual value level is 686.25 with daily, weekly, annual and monthly risky levels at 819.14, 819.98, 836.15 and 846.16. The weekly chart profile stays positive with a weekly close above the five-week MMA at 792.42. The all time high is 868.57 set 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

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