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The S&P 500 is above Fibonacci but no Dow Theory Buy.

|Includes: DIA, DUG, GLD, iShares 20+ Year Treasury Bond ETF (TLT)
The US Treasury yields have stabilized since the $21 billion 10-Year note auction that came at 3.340 on Wednesday. My semiannual value level is 3.479 with annual pivots at 2.999 and 2.813. Comex Gold reached that all time high at $1432.5 on Tuesday and remains above its 50-day simple moving average now at $1361.9. Gold has been above the rising 50-day since August 12th. Nymex Crude oil traded to a 52-week high at $90.76 on Tuesday and my semiannual value level remains at $83.94. The euro remains below my quarterly pivot at 1.3318 with the 200-day at 1.3115. The S&P 500 closed above its 61.8% Fibonacci Retracement at 1228.74, but will that be enough to pull the Dow Industrials to a close above 11444.08 to confirm another Dow Theory Buy Signal? Or, will the S&P fail with the Dow having a double-top at 11,450 instead?
 
10-Year Note – (3.225) Daily and semiannual value levels are 3.306 and 3.479 with a weekly pivot at 3.142, and annual pivots at 2.999 and 2.813, and quarterly, semiannual and monthly risky levels at 2.265, 2.249 and 1.949.
 
Courtesy of Thomson / Reuters
 
Comex Gold – ($1385.9) Quarterly, semiannual and annual value levels are $1306.4, $1260.8, $1218.7 and $1115.2 with a weekly pivot at $1400.5, and daily and monthly risky levels at $1422.9 and $1443.5.
 
Courtesy of Thomson / Reuters
 
Nymex Crude Oil ($88.45) Semiannual, annual and monthly value levels are $83.94, $77.05 and $75.50 with a weekly pivot at $86.30, and daily, semiannual and annual risky levels at $89.85, $96.53 and $97.29. Note that Tuesday was a Key Reversal Day. 
 
 
Courtesy of Thomson / Reuters
 
The Euro – (1.3244) My monthly value level is 1.2500 with daily and quarterly pivots at 1.3339 and 1.3318, and weekly and semiannual risky levels at 1.3473 and 1.4733.
 
Courtesy of Thomson / Reuters
 
Daily Dow: (11,370) Semiannual, annual, monthly and quarterly value levels are 10,558, 10,379, 10,325 and 8,523 with annual and semiannual pivots at 11,235 and 11,296, and weekly and daily risky levels at 11,440 and 11,579. The Dow Industrial Average needs a close above 11444.08 to confirm another Dow Theory Buy Signal. If not the Dow risks a double-top at 11,450 instead.
 
Courtesy of Thomson / Reuters
 
That’s today’s Four in Four. Have a great day.
 
Richard Suttmeier
Chief Market Strategist
ValuEngine.com, (800) 381-5576
 
Send your comments and questions to Rsuttmeier@Gmail.com. For more information on our products and services visit www.ValuEngine.com
 
As Chief Market Strategist at ValuEngine Inc, my research is published regularly on the website www.ValuEngine.com. I have daily, weekly, monthly, and quarterly newsletters available that track a variety of equity and other data parameters as well as my most up-to-date analysis of world markets. My newest products include a weekly ETF newsletter as well as the ValuTrader Model Portfolio newsletter. You can go HERE to review sample issues and find out more about my research.
 
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.