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The Dow Industrials Is Back Above Its 50-Day SMA At 12,608.

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

10-Year Note - (1.399) My monthly value level is 1.568 with daily and semiannual pivots at 1.411 and 1.389, and weekly risky level at 1.356. A new record low yield was set on Wednesday at 1.377.

Comex Gold - ($1603.1) Daily, monthly, and annual value levels are $1583.7, $1578.3, $1575.8 and $1388.4 with weekly, semiannual and quarterly risky levels at $1621.3, $1643.3, $1702.5 and $1805.8. A weekly close above the five-week MMA at $1596.1 shifts the weekly chart profile to positive from neutral.

Nymex Crude Oil - ($89.02) My weekly value level is $80.41 with daily and monthly risky levels at $92.04 and $100.47.

The Euro - (1.2154) My monthly and daily pivots are 1.2168 and 1.2159, and weekly and semiannual risky levels at 1.2295 and 1.2917. A new 2012 low was set at 1.2045 on Tuesday vs the June 2011 low at 1.1880.

Keep an eye on the 50-day and 200-day simple moving averages. The Dow Industrials tested and held its 200-day simple moving average at 12,531 on Tuesday and is above its 50-day at 12,606. The Dow Transports is below its 50-day and 200-day at 5078 and 5075 setting up a tug of war. The S&P 500 held its 50-day at 1332.8. The Russell 2000 is below its 50-day and 200-day simple moving averages at 775.87 and 774.83. Weekly closes below the five-week modified moving averages at 12,750 Dow Industrials, 1350.2 SPX, 2910 NASDAQ, 5127 Transports and 789.42 Russell 2000 downgrades the weekly chart profiles. All five averages are below their weekly pivots at 12,913 Dow Industrials, 1366.7 SPX, 2941 NASDAQ, 5118 Transports and 798.66 Russell 2000. The neutral zone remains between my annual and semiannual value levels at 2698 / 2527 NASDAQ and my annual risky level at 836.15 Russell 2000. In-between is my annual value level is 12,312 Dow Industrials and my annual pivot at 1363.2 SPX. My semiannual value levels are; 10,738 Dow Industrials, 1059.7 SPX, 4449 Dow Transports and 686.25 Russell 2000.

Daily Dow:(12,676) My annual value level is 12,312 with daily and weekly risky levels at 12,756 and 12,913. The Dow held its 200-day SMA at 12,531 on Tues and then closed above its 50-day at 12,608 on Wed.

S&P 500 - (1337.9) The 50-day SMA is 1332.8 with the 200-day at 1316.1. Daily, annual and weekly risky levels are 1353.0, 1363.2 and 1366.7.

NASDAQ - (2854) Annual and semiannual value levels are 2698 and 2527 with daily, weekly and monthly risky levels at 2892, 2941 and 3058. The NASDAQ is between its 200-day and 50-day SMAs at 2829 and 2871.

Dow Transports - (4934) A daily pivot is 4918 with a weekly risky level at 5118. The Transports are below its 50-day and 200-day simple moving averages at 5078 and 5075.

Russell 2000 - (769.31) A daily pivot is at 772.38 with my weekly risky level at 798.66. The Russell 2000 is below its 50-day and 200-day simple moving averages at 775.87 and 774.83.

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