declining mojo for gold, oil and euro should weigh on stocks

8/8/2019 Declining MOJO for Gold, Oil and Euro should weigh on stocks.

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Richard Suttmeier is the Chief Market Strategist at www.ValuEngine.com.ValuEngine is a fundamentally-based quant research firm in Newtown, PA. ValuEnginecovers over 7,000 stocks every day.

A variety of newsletters and portfolios containing Suttmeier's detailed research, stock

picks, and commentary can be found HERE.

Oct ober 22, 2010 Decl in ing MOJO for Gold, Oi l and Euro should w eigh on st ock s.

The yield on the 10-Year note is in a sideways pattern that anticipates the Feds QE2 initiatives.

My monthly pivot is 2.555 with my quarterly and semiannual risky levels at 2.265 and 2.249.Gold failed to hold my monthly pivot at $1343.7 and my quarterly value level is at $1306.4.Crude oil is between my annual pivot at $77.05 and my semiannual and monthly risky levels at$83.94 and $84.74. The euro tried to rally to this weeks risky level at 1.4074 but fell short. Myquarterly value level is 1.3318. The Dow remains overbought and traded above its April 26 thclosing high of 11,205.03 on Thursday but did not close above that Dow Theory milestone. DowTransports did not come close to its May 3rd at 4806.1 and a mixed close would not have been aDow Theory Buy Signal. Thursdays high on the Dow Industrial Average at 11,213.54 was only21.46 points below my annual risky level at 11,235 with my semiannual risky level is 11,296.

10-Year Note (2.536) Daily, weekly, annual and annual value levels are 2.604, 2.620, 2.813 and

2.999 with a monthly pivot at 2.555, and quarterly and semiannual risky levels at 2.265 and 2.249.

Courtesy of Thomson / Reuters


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Comex Gold ($1325.5) Quarterly, semiannual and annual value levels are $1306.4, $1260.8,$1218.7 and $1115.2 with my monthly pivot at $1343.7, and daily and weekly risky levels at $1351.4

and $1373.6.


Nymex Crude Oil ($80.63) My annual value level is $77.05 with daily and weekly pivots at $81.29

and $82.38, and semiannual and monthly risky levels at $83.94 and $84.74.



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The Euro (1.3920) My quarterly value level is 1.3318 with daily and weekly risky pivots at 1.4004and 1.4060. My monthly value level is 1.2342 with semiannual risky level at 1.4733.


Daily Dow: (11,147) Monthly, semiannual, annual and quarterly value levels are 10,857, 10,558,10,379 and 8,523 with a daily pivot at 11,167, and weekly, annual and semiannual risky levels at11,229, 11,235, and 11,296. My annual risky level at 11,235 was tested at the April 26thhigh of

11,258.01.



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Tracking Dow Theory

A Dow Theory Buy Signal occurs with Dow Transports closing above its May 3rd closing high at

4,806.1, and the Dow Industrials closing above its April 26th closing high at 11,205.03. The Dow Industrials traded above 11,205.03 on Thursday, but did not close above that

milestone. The Dow Transports lagged well behind 4,806.1 blocked by weekly and monthly risky levels at

4779 and 4797.

ValuEngine Sector Valuations

Five of eleven sectors are overbought led by Basic Industries by 6.6%, energy by 8.3% and publicutilities by 3.9%.

Thats todays Four in Four. Have a great day.

Richard SuttmeierChief Market StrategistValuEngine.com(800) 381-5576

Send your comments and questions to [email protected]. For more information on our products and services visitwww.ValuEngine.com

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 HERE to review sample issues andfind out more about my research.

I Hold No Positions in the Stocks I Cover.

declining mojo for gold, oil and euro should weigh on stocks

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