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Dow trades around my monthly pivot at 12,481

The Dow Industrial Average reached its monthly pivot at 12,481, while the other major averages lag their monthly risky levels; 1360.0 S&P 500, 2898 NASDAQ, 2477 NASDAQ 100 (NDX), 5371 Dow Transports, 856.67 Russell 2000, and 452.34 SOX. These averages are also below their year to date highs; 1344.07 on February 18th for S&P 500, 2840.51 on February 18th for NASDAQ, 2403.52 on February 16th on NASDAQ 100 (NDX), 5404.33 on April 1st on Dow Transports, 859.08 on April 6th on Russell 2000, and 474.33 on February 18th on SOX.
 
10-Year Note – (3.363) My weekly value level is 3.430 with daily and monthly risky levels at 3.306 and 3.181.
 
Comex Gold – ($1507.0) Gold tested a new intraday high at $1519.2 versus my quarterly risky level at $1523.7. My semiannual value level is $1452.6 with a weekly pivot at $1501.2, and quarterly, daily and monthly risky levels at $1523.7, $1532.0 and $1559.9.  
 
Nymex Crude Oil ($112.18) My Semiannual value level is $107.14 with daily, quarterly and weekly risky levels at $114.01, $114.27, $116.86 and $120.52.
 
 
The Euro – (1.4551) Quarterly and monthly value levels are 1.4308 and 1.4170 with a daily pivot at 1.4442, and semiannual and weekly risky levels at 1.4624 and 1.4771.
 
Daily Dow: (12,480) My weekly value level is 12,404 with daily and monthly pivots at 12,467 and 12,481 and Monday’s high at 12,506.22.
 
Courtesy of Thomson / Reuters
 
S&P 500 (1335.3) My weekly value level is 1318.7 with a daily pivot at 1331.3, the February 18th high at 1344.0 and this month’s risky level at 1360.0. 
 
NASDAQ (2826) My weekly value level is 2744 with a daily pivot at 2820, the February 18th high at 2840.51, and my monthly risky level at 2898.
 
NASDAQ 100 (NDX) (2384) My weekly value level is 2288 with a daily pivot at 2378, the February 18th high at 2403.52 and monthly risky level at 2477.   
 
Dow Transports (5301) My annual value level is 5179 with daily, weekly and monthly pivots at 5287, 5365 and 5371, and the April 1st high at 5404.33.
 
Russell 2000 (844.23) My weekly value level is 835.89 with a daily pivot at 845.36, my monthly risky level at 856.67 and the April 6th high at 859.08.
 
The SOX– (443.41) My weekly value level is 408.52 with a daily pivot at 442.04, my monthly risky level at 452.34 and the February 18th high at 474.33. 
 
Definition of MOJO – This is my term for technical momentum. I use what’s called “12x3x3 slow stochastic readings” from daily, weekly and monthly charts. The scale is zero to 10.0 where above 8.0 is overbought and below 2.0 is oversold.
 
That’s today’s Four in Four. Have a great day.
  
Richard Suttmeier
Chief Market Strategist
ValuEngine.com
(800) 381-5576
 
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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 to http://www.valuengine.com/nl/mainnl to review sample issues and find out more about my research.
 
“I Hold No Positions in the Stocks I Cover.”