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The Russell 2000 Closed Below Its Semiannual Pivot At 965.51.

|Includes: DIA, GLD, QQQ, SPY, iShares 20+ Year Treasury Bond ETF (TLT), XLE

10-Year Note - (2.543) Daily and semiannual value levels are 2.730 and 3.063 with annual and weekly pivots at 2.476 and 2.569 and monthly, annual and semiannual risky levels at 2.092, 1.981 and 1.413.

Comex Gold - ($1225.0) My daily value level is $1206.1 with a weekly pivot at $1299.4, and monthly, annual, semiannual, quarterly and annual risky levels at $1379.5, $1599.9, $1719.2, $1808.3 and $1852.1.

Nymex Crude Oil - ($95.41) Monthly and quarterly value levels are $92.32 and $79.66 with a daily pivot at $94.16, and weekly and annual risky levels at $97.22 and $115.23.

The Euro - (1.3003) Semiannual and quarterly value levels are 1.2797 and 1.2169 with weekly, daily and annual pivots at 1.3119, 1.3011 and 1.3257, and monthly risky level at 1.3322.

The major equity averages still straddle my semiannual levels as the half year comes to an end; My semiannual value level is 14,323 Dow Industrials with semiannual pivots at 1566.9 S&P 500, 5955 Dow Transports and 965.51 Russell 2000 and semiannual risky level at 3583 Nasdaq. Next week we will have new quarterly value levels and new monthly and semiannual risky levels.

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Daily Dow:(14,910) Daily, monthly, semiannual, quarterly and annual value levels are 14,798, 14,739, 14,323, 13,755 and 12,696 with a weekly risky level at 15,461, and the May 22 all time high at 15,542.40.

S&P 500 - (1603.3) Daily, semiannual, quarterly and annual value levels are 1588.4, 1566.9, 1448.7 and 1348.3 with a monthly pivot at 1602.8, a weekly risky level at 1673.5, and the May 22 all time high at 1687.18.

NASDAQ - (3376) Daily, monthly, quarterly and annual value levels are 3359, 3288, 3106 and 2806 with the May 22 multi-year high at 3532.04, and weekly and semiannual risky levels at 3573 and 3583.

NASDAQ 100 (NDX) - (2894) Daily, quarterly, monthly and annual value levels are 2878, 2819, 2784 and 2463 with the May 22 multi-year high at 3053.51 and weekly risky level at 3075.

Dow Transports - (6149) Daily, semiannual, annual and quarterly value levels are 6042, 5955, 5925, 5469 and 5324 with a weekly risky level at 6485, the May 20 all time high at 6562.85, and monthly risky level at 6734.

Russell 2000 - (963.83) Annual and quarterly value levels are 860.25, 809.54 and 807.82 with daily and semiannual pivots at 960.51 and 965.51 and monthly risky level at 978.21, the May 22 high at 1008.23, and weekly risky level at 1018.23.

The SOX- (464.93) Quarterly and annual value levels are 357.61 / 338.03 with daily / monthly pivots at 465.89 / 458.41, a weekly risky level at 492.78, a semiannual risky level is 520.17 and the July 2007 high at 549.39.

Dow Utilities:(482.86) Daily and weekly value levels are 472.05 and 458.38 with semiannual and daily pivots at 474.63 / 471.48, a monthly pivot at 491.15, a quarterly risky level at 524.16 and annual risky level at 540.37.

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