positive short-term mojo rules for stocks again this week
TRANSCRIPT
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8/9/2019 Positive Short-Term MOJO Rules for Stocks Again This Week
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Richard Suttmeier is the Chief Market Strategist at www.ValuEngine.com.ValuEngine is a fundamentally-based quant research firm in Princeton, NJ. ValuEngine
covers over 5,000 stocks every day.
A variety of newsletters and portfolios containing Suttmeier's detailed research, stock picks,and commentary can be found HERE.
June 2 1, 2010 Posi t ive Short-Term MOJO Rules for Stoc ks Again This Week
The yield on the 10-Year Treasury faces supply test on Fed Statement, Gold MOJO reachesanother new high at $1263.7 on Friday. Crude oil gains MOJO above my annual pivot at $77.05.The Dow rally continues with strength above my annual pivot at 10,379.
US Treasury Yields The daily chart shows the trading range between the 200-day simple movingaverage at 3.544 and 3.061 with annual resistances at the floor at 2.999 and 2.813. The US Treasuryauctions $40 billion 2-Year notes on Tuesday, $38 billion 5-Year notes on Wednesday and $30 billion 7-Year notes on Thursday.
Chart Courtesy of Thomson / Reuters
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8/9/2019 Positive Short-Term MOJO Rules for Stocks Again This Week
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Comex Gold The daily chart shows rising MOJO with Fridays all time high at $1263.7 versus mymonthly resistance at $1265.9. A new high was set again this morning. Todays support is 1234.3 withweekly resistance at $1282.5.
Courtesy of Thomson / Reuters
Nymex Crude Oil The daily chart still shows overbought MOJO with oil above its 50-day and 200-
day simple moving averages and annual pivot at $77.49, $76.90 and $77.05. Todays resistance is$79.74.
Courtesy of Thomson / Reuters
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8/9/2019 Positive Short-Term MOJO Rules for Stocks Again This Week
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The Euro The daily chart shows rising MOJO as strength reached my quarterly resistance at 1.2450as expected this morning. Todays resistance is 1.2545.
Courtesy of Thomson / Reuters
Daily Dow:The Dow will soon be overbought on its daily chart as strength above the 200-day simplemoving average and my annual pivot at 10,335 and 10,379 targets the 50-day and daily resistance at
10,595 and 10,643. I do not expect this short-term rebound to get back to or above the April 26th
high at11,258. It remains Dow 8,500 before Dow 11,500.
Courtesy of Thomson / Reuters
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8/9/2019 Positive Short-Term MOJO Rules for Stocks Again This Week
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Thats todays Four in Four. Have a great day.
Richard Suttmeier
Chief Market Strategistwww.ValuEngine.com(800) 381-5576
As Chief Market Strategist at ValuEngine Inc, my research is published regularly on the website www.ValuEngine.com. Ihave daily, weekly, monthly, and quarterly newsletters available that track a variety of equity and other data parameters aswell as my most up-to-date analysis of world markets. My newest products include a weekly ETF newsletter as well as theValuTrader Model Portfolio newsletter. I hope that you will go to www.ValuEngine.com and review some of the sampleissues of my research.
I Hold No Positions in the Stocks I Cover.