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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  • Crude Oil Could Not Sustain Its 200-Day Simple Moving Average 0 comments
    Aug 23, 2012 5:38 PM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    10-Year Note - (1.673) Semiannual, quarterly, and daily value levels are 1.853, 1.869 and 1.866 with weekly, monthly and semiannual risky levels at 1.561, 1.468 and 1.389. Weekly closes with the yield above the five-week modified moving average at 1.642 favors higher yields.

    Comex Gold - ($1672.2) Moved above its 200-day simple moving average at $1649.9 on Wednesday. Daily, semiannual, weekly, annual and monthly value levels are $1656.7, $1643.3, $1635.0, $1575.8 and $1525.3 with semiannual and quarterly risky levels at $1702.5 and $1805.8. The weekly chart stays positive on a weekly close above the five-week MMA at $1607.6.

    Nymex Crude Oil - ($96.01) Moved above its 200-day simple moving average at $96.74 on Wednesday, but this could not be sustained. My monthly value level is $90.40 with daily, weekly, annual and quarterly risky levels at $98.44, $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 - (1.2559) Monthly and weekly value levels are 1.2237 and 1.2095 with a daily pivot at 1.2495, and my semiannual risky level at 1.2917. The weekly chart shifts to positive on a weekly close above the five-week modified moving average at 1.2380.

    Watch Friday's closes versus the five-week MMAs at 13,005 Dow Industrials and 5125 Dow Transports. My monthly risky levels are 13,625 Industrials, 1458.2 SPX, 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:(13,057) Annual and semiannual value levels are 12,312 and 10,738 with daily, weekly, monthly and annual risky levels at 13,192, 13,400, 13,625 and 14,032. The weekly chart profile stays positive on a weekly close above the five-week modified moving average at 13,005.

    S&P 500 - (1402.1) Tested a new 2012 high at 1426.68 on Tuesday. My annual value level is 1363.2 with daily, weekly and monthly risky levels at 1416.4, 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 - (3053) Annual and semiannual value levels are 2698 and 2527 with a weekly pivot at 3065, and daily, monthly and annual risky levels at 3091, 3194 and 3232. The weekly chart profile stays positive on a weekly close above the five-week modified moving average at 2973.

    Dow Transports - (5115) Semiannual value levels are 4449 and 4129 with weekly, daily, and monthly risky levels at 5214, 5242 and 5373. The weekly chart profile stays positive on a weekly close above the five-week modified moving average at 5125. The all time high is 5627.85 set on July 7, 2011.

    Russell 2000 - (806.00) My semiannual value level is 686.25 with daily, weekly, annual and monthly risky levels at 820.63, 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.

    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

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