Stocks Are Poised To Test My Monthly Risky Levels.
Banks, Homebuilders, chartest
Seeking Alpha Analyst Since 2006
10-Year Note - (2.713) Weekly and semiannual value levels are 2.737 and 3.227 with daily, annual, monthly, annual and semiannual risky levels at 2.544, 2.476, 2.284, 1.981 and 1.719.
Comex Gold - ($1219.9) Weekly and daily value levels are $1193.0 and $1187.4 with monthly, annual, quarterly and annual risky levels at $1289.4, $1599.9, $1603.0 and $1852.1.
Nymex Crude Oil - ($103.33) Weekly and quarterly value levels are $98.07 and $91.75 with daily and monthly pivots at $102.65 and $101.69, and semiannual and annual risky levels at $109.84 and $115.23.
The Euro - (1.2826) Semiannual and quarterly value levels are 1.2477 and 1.1545 with a daily pivot at 1.2841 and weekly, monthly and annual risky levels at 11.3043, .3231 and 1.3257.
It's been several weeks since the five major averages set their May 20/May 22 highs at 15,542.40 Dow Industrials, 1687.18 S&P 500, 3532.04 Nasdaq, 6568.41 Dow Transports and 1008.23 Russell 2000. Since then the technicals have not been able to confirm those highs as cycle highs because we have not had simultaneous weekly closes below the five-week MMAs at 15,007 Dow Industrials, 1617.5 S&P 500, 3413 Nasdaq, 6252 Dow Transports and 978.57 Russell 2000. It seems like my monthly risky levels will be tested next at 15,437 Dow Industrials, 1669.0 S&P 500 and 3510 Nasdaq. My quarterly value levels are 14,288 Dow Industrials, 1525.6 S&P 500, 3284 Nasdaq, 5348 Dow Transports and 863.05 Russell 2000. My annual value levels are 12.696 Dow Industrials, 1348.3 S&P 500, 2806 Nasdaq, 5469 Dow Transports and 809.54 Russell 2000.
Daily Dow:(15,136) Quarterly and annual value levels are 14,288 and 12,696 with a weekly pivot at 15,120, and daily and monthly risky levels at 15,290 and 15,437, and the May 22 all time high at 15,542.40.
S&P 500 - (1631.9) Quarterly and annual value levels are 1525.6 and 1348.3 with a weekly pivot at 1628.6, and daily and monthly risky levels at 1653.4, 1669.0, and the May 22 all time high at 1687.18.
NASDAQ - (3479) Quarterly and annual value levels are 3284 and 2806 with a weekly pivot at 358, and daily and monthly risky levels at 3524 and 3510, and the May 22 multi-year high at 3532.04.
NASDAQ 100 (NDX) - (2963) My Annual value level is 2463 with a weekly pivot at 2941, and daily, monthly and quarterly risky levels at 2997, 2978 and 2983, and the May 22 multi-year high at 3053.51.
Dow Transports - (6290) Annual and quarterly value levels are 5925, 5469 and 5348 with a weekly pivot at 6236, and daily and monthly risky levels at 6421 and 6758 and the May 20 all time high at 6562.85.
Russell 2000 - (1005.39) Quarterly and annual value levels are 863.05, 860.25 and 809.54 with a weekly pivot at 999.43, and daily and monthly risky levels at 1018.66 and 1030.75, above the May 22 high at 1008.23.
The SOX- (476.12) Quarterly and annual value levels are 404.59 and 338.03 with a weekly pivot at 471.68, and daily and monthly risky levels at 486.35 and 496.16.
Dow Utilities:(476.94) My weekly value level is 460.03 with daily, monthly, quarterly, semiannual and annual risky levels at 489.22, 489.78, 510.38, 523.33 and 540.37.
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