new highs yet again but not for dow industrials!

7/27/2019 New highs yet again but not for Dow Industrials!

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Richard Suttmeier is the Chief Market Strategist at www.ValuEngine.com. ValuEngine is a fundamentally-based quant research firm in Melbourne, FL. ValuEnginecovers over 8,000 stocks every day.

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October 22, 2013 – New highs yet again but not for Dow Industrials!

If you live in Tampa Bay, or nearby you are invited to attend my presentation at the University of Tampat 8:00 PM on Wednesday, October 23, 2013. Please email me at [email protected].



The yield on the US Treasury 10-Year declined below my monthly pivot at 2.602% with my annualrisky level at 2.476%. This rally began from a test of the 50-day SMA at 2.746% on Oct. 16. The yield

on the US Treasury 30-Year bond held my weekly pivot at 3.685% and then returned to my monthlypivot at 3.628%. My quarterly risky level is 3.487%. The weekly chart shows the 10-Year yield belowits five-week MMA at 2.645% testing its 200-week SMA at 2.512%. The weekly chart shows the 30-year yield below its five-week MMA at 3.694 testing its 200-week SMA at 3.618%.

10-Year Note – (2.516) Daily, monthly, weekly and semiannual value levels are 2.586, 2.603, 2.621and 3.227 with annual and semiannual risky levels at 2.476, 1.981 and 1.719.

Comex gold has a positive daily chart and its 50-day SMA at $1342.1 the Troy ounce is being tested.The 200-day SMA is $1438.6. The weekly chart shifts to neutral with a close this week above its five-week MMA at $1325.7. The 200-week SMA is $1478.2.

Crude oil remains below its 50-day SMA at $105.08 and the 200-day SMA at $98.62 has been tested

as the daily chart becomes oversold. The weekly chart remains negative with a weekly close below itsfive-week MMA at $102.91 and the 200-week SMA at $91.49.

The euro vs. the dollar is above its 50-day and 200-day SMAs at $1.3427 and 1.3204 with a new 52-week high set at 1.3785 on Oct. 22. The daily chart shifted to positive last Thursday. The weekly chartremains positive but overbought with the five-week MMA at 1.3532 and the 200-week SMA at 1.3327.

Comex Gold – ($1340.6) Daily, weekly and monthly value levels are $1320.6, $1266.6 and $1145.2with quarterly and annual risky levels at $1435.6, $1599.9 and $1852.1.

Nymex Crude Oil – ($98.22) Monthly and daily pivots are $99.84 and $98.10 with weekly,semiannual, quarterly and annual risky levels at $102.80, $109.84, $114.36 and $115.23.

The Euro – (1.3781) Annual, quarterly, monthly and semiannual value levels are 1.3257, 1.2805,1.2782, 1.2756 and 1.2477 with daily and weekly pivots at 1.3753 and 1.3554 and annual risky level a1.4295.

The daily chart for the Dow Industrial Average is positive but overbought with the 50-day SMA at15,163.93 and its Sept. 18 all time high at 15,709.59. The S&P 500 is positive but overbought with its50-day SMA at 1682.85 and its Oct. 22 all time high at 1759.33. The Nasdaq is positive butoverbought with its 50-day SMA at 3726.21 and a new multi-year high at 3947.67 set on Oct. 22. TheDow Transportation Average is positive but overbought with its 50-day SMA at 6538.52 and its Oct. 22all time high at 6975.10. The Russell 2000 is positive but overbought with its 50-day SMA at 1057.74and new all time high at 1121.53 set on Oct. 22.

The weekly chart for Dow Industrials shifts to positive with a close this week above its five-week MMAat 15,282.65. The weekly chart for the S&P 500 remains positive with its five-week MMA at 1707.94.The weekly chart for the Nasdaq stays positive but overbought with its five-week MMA at 3794.43 asmomentum remains well above 80.00 at 93.54. The weekly chart for Dow Transports is positive butoverbought with its five-week MMA at 6663.27. The weekly chart for the Russell 2000 remains positivebut overbought with its five-week MMA at 1079.41 as momentum remains above 80.00 and 91.96.

This week’s pivots / value levels are 15,418 Dow Industrials, 1727.5 S&P 500, 3888 Nasdaq, 6710Dow Transports and 1102.54 Russell 2000.

The major equity averages have entered a wide zone of risky levels, except Dow Industrials.



Monthly, semiannual and quarterly risky levels are 15,932, 16,490 and 16,775 Dow Industrials, 1853.8S&P 500, 4025 Nasdaq, 7104 and 7205 Dow Transports and 1163.21 Russell 2000. Monthly andsemiannual pivots are 1746.4 and 1743.5 S&P 500, 3830 and 3759 Nasdaq, 6811 Dow Transports

and 1092.46 and 1089.42 Russell 2000. My annual value levels remain at 12,696 Dow Industrials,1348.3 S&P 500, 2806 Nasdaq, 5469 Dow Transports, and 809.54 Russell 2000.

Daily Dow: (15,468) Semiannual and annual value levels are 14,724 and 12,696 with a weekly pivotat 15,418, a daily risky level at 15,580, the Sept. 18 all time high at 15,709.59, and monthly,semiannual and quarterly risky levels at 15,932, 16,490 and 16,775.

S&P 500 – (1754.7) Weekly, semiannual and annual value levels are 1727.5, 1606.9, 1400.7 and1348.3 with semiannual and monthly pivots at 1743.5 and 1746.4, the Oct. 22 all time high at 1759.33and daily and quarterly risky levels at 1768.8 and 1853.8.

NASDAQ – (3930) Weekly, monthly, annual, semiannual and annual value levels are 3888, 3830,3759, 3668 and 2806 with the Oct. 22 multi-year high at 3947.67, and daily and quarterly risky levels

at 3972 and 4025.

NASDAQ 100 (NDX) – (3367) Semiannual, weekly, monthly and annual value levels are 3304, 3226,3254 and 2463 with the Oct. 22 multi-year high at 3384.35, and daily and quarterly risky levels at 3404and 3477.

Dow Transports – (6914) Weekly and annual value levels are 6710, 5925 and 5469 with a monthlypivot at 6811, the Oct. 22 all time high at 6975.10, and daily, semiannual and quarterly risky levels at6932, 7104 and 7205.

Russell 2000 – (1115.63) Weekly, semiannual, monthly and annual value levels are 1102.54, 1089.421092.46, 860.25 and 809.54 with the Oct. 22 all time high at 1121.53, and daily and quarterly riskylevels at 1133.48 and 1163.21.

The SOX – (507.12) My annual value level is 338.03 with the Oct. 22 multi-year high at 508.75, anddaily, weekly, monthly, quarterly and semiannual risky level at 510.24, 516.84, 512.13, 514.87 and533.56.

Dow Utilities: (502.46) Daily, weekly and semiannual value levels are 497.37, 485.82 and 481.92 withmonthly, quarterly, semiannual and annual risky levels at 512.80, 520.55, 523.33 and 540.37.

To learn more about ValuEngine check out www.ValuEngine.com. Any comments or questions contactme at [email protected].

new highs yet again but not for dow industrials!

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