a close today above my annual pivot at 1363.20 on the s&p 500 keeps the bulls in play

8/2/2019 A Close Today Above My Annual Pivot At 1363.20 On The S&P 500 Keeps The Bulls In Play.

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Marc h 9, 2012 – A Close Today Above My Ann ual Pivot At 1363.20 On The S& P 500

Keeps T he Bul ls In Play.

We need a weekly close above my annual pivot at 1363.2 SPX to keep the major averages onthe positive side of my overall neutral zone with upside to quarterly / annual risky levels at5448 Dow Transports and 836.15 Russell 2000. The upside for the Dow Industrials, S&P 500 andNASDAQ is to weekly risky levels at 13,274, 1405.4 and 3102. This upside should not be abreakout as the 2011 all time highs are 5627.85 Transports set on July 7th and 868.57 small capset on May 2nd. A weekly close below 1363.2 SPX indicates risk to quarterly value levels at12,478 Dow Industrials, 1305.4 SPX and 2777 NASDAQ. The yield on the 10-Year Treasury hasbeen stuck in a 30 basis point range Year to date between 2.094 and 1.790. Gold held its 200-day simple moving averages at $1675.6. Crude oil remains shy of its May 2nd high at $114.83.The euro versus the dollar held its 50-day SMA at 1.3089 on Wednesday.

10-Year Note – (2.021) My annual value is 2.502 with daily and weekly pivots at 2.054 and 1.956 andannual, weekly and quarterly risky levels at 1.903, 1.874 and 1.687.

Courtesy of Thomson / Reuters



Comex Gold – ($1701.2) Daily, semiannual, annual and weekly value levels are $1649.8, $1659.5,$1635.8, $1575.8, $1593.9 with quarterly, weekly and monthly risky levels at $1740.9, $1808.4 and

$1888.4.


Nymex Crude Oil – ($106.71) Daily, semiannual, annual, weekly, quarterly, monthly and semiannualvalue levels are $105.72, $104.84, $103.58, $102.74, $99.87, $97.96 and $79.83 with my annual risky

level at $117.00.




The Euro – (1.3267) Daily, semiannual, monthly, and quarterly value levels are 1.3115, 1.2980,1.2622, and 1.2499 with weekly, annual and semiannual risky levels at 1.3534, 1.4239 and 1.4405.


Daily Dow: (12,908) Quarterly, annual, monthly and semiannual value levels are 12,478, 12,312,11,903, 8,425 and 8,336 with a daily pivot at 12,861, and weekly and annual risky levels at 13,274 and14,032.




S&P 500 – (1365.9) Quarterly, monthly and semiannual value levels are 1305.4, 1222.5, 841.7 and829.9 with daily and annual pivots at 1359.9 and 1363.2, and weekly and annual risky levels at 1405.4

and 1562.9. A key negative would be a weekly close below my annual pivot at 1363.2. NASDAQ – (2970) Quarterly, annual, monthly and semiannual value levels are 2777, 2698, 2651,2012 and 1952 with a daily pivot at 2957, and weekly and annual risky levels at 3102 and 3232.

NASDAQ 100 (NDX) – (2637) Monthly, quarterly, annual and semiannual value levels are 2428, 24222300, 1851 and 1743 with annual and daily pivots at 2603 and 2655, and weekly risky level at 2715.

Dow Transports – (5146) Monthly and semiannual value levels are 4470, 4407 and 3778 with a dailypivot at 5102, and weekly, quarterly, and annual risky levels at 5403, 5448, 5861 and 6111. The alltime high was set at 5627.85 on July 11, 2011.

Russell 2000 – (806.32) Daily, monthly and semiannual value levels are 784.86, 684.13, 572.90 and

510.81 with quarterly pivots at 824.46 and 829.03, and annual and weekly risky levels at 836.15 and861.98. The all time high was set at 868.57 on May 2, 2011.

The SOX – (418.36) Quarterly, monthly, annual and semiannual value levels are 390.17, 323.52,269.80, 277.90 and 194.47 with a daily pivot at 412.39, and weekly and annual risky levels at 459.41and 520.61. The 2011 high is 474.33 set on February 18, 2011.

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• Twelve of sixteen sectors are overvalued; three by double-digit percentages. Computers &Technology is 14.9% OV, Retail-Wholesale is 12.3% OV and Finance is 11.2% OV. Back inMarch 2009 the sectors were undervalued by 33% to 45%.

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Definition of MOJO – This is my term for technical momentum. I use what’s called “12x3x3 slowstochastic readings” from daily, weekly and monthly charts. The scale is zero to 10.0 where above 8.0is overbought and below 2.0 is oversold.

Buy and Trade Strategies for Long Positions• Value Level – The price at which you establish an additional long position on share price

weakness. This is done on a GTC Limit Order to buy weakness to the Value Level. • Risky Level – The price at which you remove a single long position or reduce a multiple

long position on share price strength. This is done on a GTC Limit Order to sell strength tothe Risky Level.

Buy and Trade Strategies for Short Positions

• Value Level – The price at which you remove a single short position or reduce a multipleshort position on share price weakness. This is done on a GTC Limit Order to buy weaknesto the Value Level.

• Risky Level – The price at which you establish an addition short position on share price strength. This is done on a GTC Limit Order to sell strength to the Risky Level.

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As Chief Market Strategist at ValuEngine Inc, my research is published regularly on the website www.ValuEngine.com. I have daily, weekly, monthly, andquarterly newsletters available that track a variety of equity and other data parameters as well as my most up-to-date analysis of world markets. Mynewest products include a weekly ETF newsletter as well as the ValuTrader Model Portfolio newsletter. You can go tohttp://www.valuengine.com/nl/mainnl to review sample issues and find out more about my research.

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a close today above my annual pivot at 1363.20 on the s&p 500 keeps the bulls in play

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