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Dow Industrials And Dow Transports Are Below Five-Week MMAs.

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

10-Year Note - (2.712) Weekly and semiannual value levels are 3.009 and 3.227 with daily, monthly, annual, and semiannual risky levels at 2.683, 2.601, 2.476, 1.981 and 1.719.

Comex Gold - ($1343.8) Daily, monthly and weekly value levels are $1323.5, $1229.7 and $1184.8 with annual, quarterly and annual risky levels at $1599.9, $1603.0 and $1852.1.

Nymex Crude Oil - ($107.16) Daily, monthly and quarterly value levels are $105.06, $104.48 and $91.75 with weekly, semiannual and annual risky levels at $109.20, $109.84 and $115.23.

The Euro - (1.3273) Weekly, semiannual and quarterly value levels are 1.2967, 1.2477 and 1.1545 with annual and monthly pivots at 1.3257 and 1.3313, and daily and annual risky levels at 1.3327 and 1.4295.

The major equity Averages straddle their five-week modified moving averages at; 15362 Dow Industrials, 1669.6 S&P 500, 3566 Nasdaq, 6440 Dow Transports and 1026.63 Russell 2000. My monthly pivot is 3663 Nasdaq. This week's risky levels are 15,579 Dow Industrials, 1703.7 S&P 500, 3699 Nasdaq, 6509 Dow Transports and 1071.67 Russell 2000.

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Daily Dow:(15,338) Daily, quarterly and annual value levels are 15,246, 14,288 and 12,696 with a weekly risky level at 15,579, August 2 all time high at 15,658.43, and monthly / semiannual risky levels at 16,188 / 16,490.

S&P 500 - (1685.4) Daily, quarterly and annual value levels are 1676.7, 1525.6 and 1348.3 with a weekly risky level at 1703.7, the August 2 all time high at 1709.67, and monthly / semiannual risky levels at 1742.5 / 1743.5.

NASDAQ - (3669) Daily, quarterly and annual value levels are 3651, 3284 and 2806 with a monthly pivot at 3663, a weekly risky level at 3699, the August 5 multi-year high at 3694.18, and semiannual risky level at 3759.

NASDAQ 100 (NDX) - (3129) Daily, weekly, monthly, quarterly and annual value levels are 3114, 3130, 3080, 2983 and 2463 with the August 13 multi-year high at 3149.24, and semiannual risky level at 3304.

Dow Transports - (6400) Daily, annual / quarterly value levels are 6311, 5925, 5469 / 5348 with a weekly risky level at 6509, the August 1 all time high at 6686.86, and monthly and semiannual risky levels at 7087 and 7104.

Russell 2000 - (1047.80) Daily, quarterly and annual value levels are 1042.06, 863.05, 860.25 and 809.54 with a weekly risky level at 1071.67, the August 5 all time high at 1063.52, and monthly and semiannual risky levels at 1092.24 and 1089.42.

The SOX- (471.34) Daily, quarterly and annual value levels are 466.93, 404.59 and 338.03 with a weekly risky level at 485.85, and monthly and semiannual risky levels at 513.89 and 533.56.

Dow Utilities:(493.26) Daily and semiannual value levels are 492.24 and 481.92 with weekly, quarterly, semiannual, monthly and annual risky levels at 505.30, 510.38, 523.33, 530.15 and 540.37.

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