The Stock Market Bends But Does Not Break.
10-Year Note - (2.559) Weekly and semiannual value levels are 2.788 and 3.227 with a daily pivot at 2.542, and annual, monthly, annual and semiannual risky levels at 2.476, 2.284, 1.981 and 1.719.
Comex Gold - ($1332.2) Monthly and weekly value levels are $1289.4 and $1227.7 with a daily pivot at $1342.3, and annual, quarterly and annual risky levels at $1599.9, $1603.0 and $1852.1.
Nymex Crude Oil - ($104.69) Monthly and quarterly value levels are $101.69 and $91.75 with daily, weekly, semiannual and annual risky levels at $106.92, $110.87, $109.84 and $115.23.
The Euro - (1.3272) Semiannual and quarterly value levels are 1.2477 and 1.1545 with daily, weekly, monthly and annual pivots at 1.3240, 1.3259, 1.3231 and 1.3257, and annual risky level at $1.4295.
This week's value levels are 15,393 Dow Industrials, 1670.7 S&P 500, 3554 Nasdaq, 6420 Dow Transports and 1037.98 Russell 2000 with semiannual risky levels are 16,490 Dow Industrials, 1743.5 S&P 500, 3759 Nasdaq, 7104 Dow Transports and 1089.42 Russell 2000. 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. For the Dow the upside is 6.0% and the downside risk is 18.4%.
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Daily Dow:(15,559) Monthly, weekly, quarterly and annual value levels are 15,437, 15,393, 14,288 and 12,696 with the July 23 all time high at 15,604.22, daily risky level at 15,635, and my semiannual risky level at 16,490.
S&P 500 - (1691.7) Monthly, weekly, quarterly and annual value levels are 1669.0, 1670.7, 1525.6 and 1348.3 with the July 23 all time high at 1698.78, a daily risky level at 1703.7, and my semiannual risky level at 1743.5.
NASDAQ - (3613) Daily, weekly, monthly, quarterly and annual value levels are 3601, 3554, 3510, 3284 and 2806 with the July 18 multi-year high at 3624.54, and semiannual risky level at 3759.
NASDAQ 100 (NDX) - (3076) Daily, weekly, quarterly, monthly and annual value levels are 3044, 3010, 2983, 2978 and 2463 with the July 18 multi-year high at 3091.21, and semiannual risky level at 3304.
Dow Transports - (6473) Weekly, annual / quarterly value levels are 6420, 5925, 5469 a/ 5348 with daily risky level at 6591, the July 19 all time high at 6608.87, and monthly and semiannual risky levels at 6758 and 7104.
Russell 2000 - (1048.51) Weekly, monthly, quarterly / annual value levels are 1037.98, 1030.75, 863.05, 860.25 / 809.54 with July 23 all time high at 1056.86, and daily / semiannual risky levels at 1059.82 / 1089.42.
The SOX- (473.12) Daily, quarterly and annual value levels are 471.60, 404.59 and 338.03 with weekly and monthly risky levels at 479.02 and 496.16, and semiannual risky level at 533.56.
Dow Utilities:(504.41) Weekly, monthly and weekly value levels are 500.04, 489.78 and 478.45 with daily, quarterly, semiannual and annual risky levels at 505.46, 510.38, 523.33 and 540.37.
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