Richard Suttmeier's  Instablog

Richard Suttmeier
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I am the Founder & CEO at Global Market Consultants, Ltd. I consider myself as a Financial Engineer with an engineering degree from Georgia Tech and a Master of Science degree from Brooklyn Poly. In 1972 I began my career in the financial services industry trading U.S. Treasury securities in the... More
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Global Market Consultants
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  • All Major Equity Averages Have Positive Weekly Charts 0 comments
    Aug 18, 2012 10:53 AM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    10-Year Note - (1.816) Quarterly and annual value levels are 1.869 and 2.502 with semiannual and daily pivots at 1.853 and 1.854, and weekly, monthly and semiannual risky levels at 1.561, 1.468 and 1.389. A weekly close with the yield above the five-week MMA at 1.642 favors higher yields.

    Comex Gold - ($1615.9) Annual and monthly value levels are $1575.8 and $1525.3 with a daily pivot at $1612.1, and weekly and semiannual and quarterly risky levels at $1635.0, $1643.3 and $1702.5. The weekly chart stays positive on a weekly close above the five-week MMA at $1607.6.

    Nymex Crude Oil - ($96.12) My monthly value level is $90.40 with a daily pivot at $95.08, and weekly, annual and quarterly risky levels at $100.79, $103.58 and $107.63. The weekly chart stays positive on a weekly close above the five-week modified moving average at $91.12.

    The Euro - (1.2323) My weekly value level is 1.2095 with monthly and daily pivots at 1.2237 and 1.2241. My semiannual risky level is 1.2917. The weekly chart shifts to positive on a weekly close above the five-week modified moving average at 1.2380.

    The weekly charts for the major average are positive with the five-week MMAs at 13,005 Dow Industrials, 1381.5 S&P 500, 2973 NASDAQ, 5125 Dow Transports and 797.80 Russell 2000. This week's risky levels / pivots are 13,400 Industrials, 1432.9 S&P 500, 3065 NASDAQ, 5214 Transports and 830.16 Russell 2000. My monthly risky levels are 13,625 Industrials, 1458.2 S&P 500, 3194 NASDAQ, 5373 Transports, and 846.16 Russell 2000. Annual and semiannual value levels are 12,312 and 10,738 Industrials, 1363.2 and 1059.7 S&P 500, 2698 and 2527 NASDAQ, 4449 and 4129 Transports and 686.25 on Russell 2000.

    Daily Dow:(13,275) Annual and semiannual value levels are 12,312 and 10,738 with a daily pivot at 13,244, and weekly, monthly and annual risky levels at 13,400, 13,625 and 14,032 and 14,493. The weekly chart profile stays positive on a weekly close above the five-week modified moving average at 13,005.

    S&P 500 - (1418.2) My annual value level is 1363.2 with a daily pivot at 1415.6, and weekly and monthly risky levels at 1432.9 and 1458.2. The weekly chart profile stays positive on a weekly close above the five-week modified moving average at 1381.5.

    NASDAQ - (3077) Annual and semiannual value levels are 2698 and 2527 with daily and weekly pivots at 3059 and 3065, and monthly and annual risky levels at 3194 and 3232. The weekly chart profile stays positive on a weekly close above the five-week modified moving average at 2973.

    Dow Transports - (5194) Daily and semiannual value levels are 5136, 4449 and 4129 with a weekly pivot at 5214, and monthly risky level at 5373. The weekly chart profile stays positive on a weekly close above the five-week MMA at 5125 to turn positive. The all time high is 5627.85 set on July 7, 2011.

    Russell 2000 - (819.89) Daily and semiannual value levels are 811.57 and 686.25 with weekly, annual and monthly risky levels at 830.16, 836.15 and 846.16. The weekly chart profile stays positive with a weekly close above the five-week MMA at 797.80. The all time high is 868.57 set on May 2, 2011.

    Stocks: TLT, GLD, XLE, DIA, QQQ, SPY
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