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Weekly Closes Vs Five-week MMAs Key Market Direction.

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

The Key Levels for the US Capital Markets

10-Year Note - (1.644) Semiannual and monthly value levels are 1.903 and 1.909 with daily, quarterly, semiannual and weekly risky levels at 1.469, 1.407, 1.385 and 1.370.

Comex Gold - ($1592.1) My annual value level is $1388.4 with my annual pivot at $1575.8, a weekly pivot at $1612.1, and daily, semiannual and monthly risky levels at $1620.8, $1635.8, $1659.4 and $1695.4. My quarterly risky level is $1871.9. The 50-day / 200-day SMAs: $1620.4 / $1683.8.

Nymex Crude Oil - ($84.12) Daily and semiannual value levels are $80.29 and $79.83 with a weekly pivot at $86.55 (tested on Thursday) and quarterly, annual and semiannual risky levels at $101.55, $103.58 and $104.84.

The Euro - (1.2566) My daily value level is 1.2440 with weekly, monthly, semiannual and quarterly risky levels at 1.2646, 1.2815, 1.2980 and 1.3366. The June 2010 low is 1.1880.

The weekly chart profiles stay negative given closes today below the five-week modified moving averages at 12,656 Dow Industrials, 1336.5 SPX, 2892 NASDAQ, 5093 Dow Transports and 778.87 Russell 2000. My annual levels remain in play as the overall neutral zone: The annual value level is 2698 NASDAQ with the annual pivot at 12,312 Dow Industrials, and annual risky levels at 1363.2 SPX and 836.15 Russell 2000.

Daily Dow:(12,461) My daily value level is 12,229 with weekly and annual pivots at 12,279 and 12,312, quarterly risky level at 12,794, and annual and monthly risky levels are 14,032 and 14,201.

S&P 500 - (1315.0) Daily and weekly value levels are 1291.7 and 1278.3 with quarterly, annual, monthly and annual risky levels at 1337.7, 1363.2, 1504.8 and 1562.9.

NASDAQ - (2831) Daily, weekly and annual value levels are 2791, 2716 and 2698 with quarterly, annual and monthly risky levels at 2911, 3232 and 3248.

Dow Transports - (5009) Weekly and daily value levels are 4903 and 4899 with a quarterly risky level at 5420, and the all time high set at 5627.85 on July 11, 2011.

Russell 2000 - (760.34) Daily and weekly value levels at 746.39 and 736.52 with quarterly and annual risky levels at 829.34 and 836.15, and the all time high set at 868.57 on May 2, 2011.

VE Morning Briefing - If you want expanded analysis of the US Capital Markets go to this link and sign up: http://www.valuengine.com/nl/mainnl?nl=D