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Stocks Set to Challenge This Week’s Risky Levels

|Includes: DIA, DUG, GLD, iShares 20+ Year Treasury Bond ETF (TLT)
This week’s pivots / risky levels are 11,714 Dow, 1279.8 SPX, 2737 NASDAQ, 5308 Dow Transports and 818.09 Russell 2000. Today’s highs could straddle these levels.
The major equity averages still straddle quarterly value levels, pivots and risky levels favoring a reversal-oriented first quarter – 11,395 Dow, 1162.5 SPX, 2853 NASDAQ, 4671 Transports and 765.50 Russell 2000. The NASDAQ has the only quarterly risky level, which is the target if all weekly risky levels become pivots.
The US Treasury 10-Year yield has a weekly value level at 3.636 the 50-day and 200-day simple moving averages crossing at 3.063 and 3.045 as resistance. Comex gold has had closes below the 50-day, now at $1383.3. My annual value level remains $1356.5 with this week’s risky level at $1396.2. Nymex crude oil tested this week’s risky level at $91.10, which is now a pivot. The euro remains below its 200-day at 1.3070. If the Dow Industrial Average fails to close above 11,714 the key support is 21-day simple moving average at 11,578.
10-Year Note – (3.347) Weekly, annual and semiannual value levels are 3.636, 3.791 and 4.268 with a daily pivot at 3.349. Annual, semiannual and monthly risky levels are 2.690, 2.441, 2.322 and 2.150. 
Courtesy of Thomson / Reuters
Comex Gold – ($1381.2) Daily, annual, semiannual and annual value levels are $1365.5, $1356.5, $1300.6 and $1187.2 with a weekly risky level at $1396.2. Monthly, quarterly and semiannual risky levels are $1439.0, $1441.7 and $1452.6.
Courtesy of Thomson / Reuters
Nymex Crude Oil ($91.25) Semiannual and monthly value levels are $87.52 and $75.74 with daily and weekly pivots at $90.91 and $91.10. Weekly closes above $87.52 targets annual, semiannual and quarterly risky levels at $99.91, $101.92, $107.14 and $110.87.
Courtesy of Thomson / Reuters
The Euro – (1.2973) Monthly and weekly value levels are 1.2805 and 1.2773 with a daily pivot at 1.2942 and quarterly risky level at 1.3227. Semiannual and annual risky levels are 1.4624, 1.4989, 1.6367 and 1.7312.
Courtesy of Thomson / Reuters
Daily Dow: (11,672)Annual, quarterly, semiannual, monthly and semiannual value levels are 11,491, 11,395, 10,959, 10,427 and 9,449 with weekly and daily risky levels at 11,714 and 11,767, and annual risky level at 13,890.
Courtesy of Thomson / Reuters
That’s today’s Four in Four. Have a great day.
Richard Suttmeier
Chief Market Strategist, (800) 381-5576
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