8/8/2019 The Dow fades slightly but remains extremely overbought

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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.

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September 23, 2010 The Dow fades s l ight l y but rem ains ext rem ely overbought

The 10-Year US Treasury yield seems range bound between my annual pivot at 2.813 and my

quarterly pivot at 2.495 with my monthly pivot in-between at 2.562. Gold trades to another alltime high at $1298.0 on Wednesday with a daily risky level at $1306.3. Crude oil is betweenmonthly and annual pivots at $74.45 and $77.05. The euro shows a weekly value level at 1.2902and todays risky level at 1.3535. The Dow remains extremely overbought on its daily chart butas long as weekly closes are above my semiannual pivot at 10,558 the journey towards myannual pivot at 11,235 by Election Day continues. The FHFA shows declining house prices.

10-Year Note (2.551) Annual and annual value levels are 2.813 and 2.999 with monthly and dailypivots at 2.562 and 2.542, and quarterly, weekly and semiannual risky levels at 2.495, 2.487 and2.249.

Courtesy of Thomson / Reuters

8/8/2019 The Dow fades slightly but remains extremely overbought

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Comex Gold ($1293.4) Monthly, semiannual, quarterly and annual value levels are $1263.8, 1260.8$1218.7, $1140.9 and $1115.2 with a weekly pivot at $1283.5 and daily risky level at $1306.3.

Courtesy of Thomson / Reuters

Nymex Crude Oil ($74.68) Daily, weekly and quarterly value levels are $73.81, $72.72 and $56.63with a monthly pivot at $74.45, my annual pivot at $77.05, and semiannual risky level at $83.94.

Courtesy of Thomson / Reuters

8/8/2019 The Dow fades slightly but remains extremely overbought

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The Euro (1.3391) My weekly value level is 1.2902 with a daily risky level at 1.3535. Quarterly andmonthly value levels are 1.2167, 1.1721 and 1.1424 with semiannual risky level at 1.4733.

Courtesy of Thomson / Reuters

Daily Dow: (10,739) Weekly, annual, monthly and quarterly value levels are 10,445, 10,379, 10,164and 7,812 with my semiannual pivot at 10,558, and daily and annual risky levels at 10,835 and 11,235My annual risky level at 11,235 was tested at the April 26thhigh of 11,258.01. The Dow has

become extremely overbought.

Courtesy of Thomson / Reuters

8/8/2019 The Dow fades slightly but remains extremely overbought

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The FHFA Monthly House Price Index Falls 0.5% from June to July

The Federal Housing Finance Agencys monthly House Price Index fell 0.5% sequentially in July, andthe June index was revised to a decline of 1.2% from 0.3%. For the twelve months ending in July theFHFA says that home prices declined 3.3% year-over-year.

The FHFA index is based upon purchase prices of houses backed by mortgages that than have beensold to or guaranteed by Fannie Mae or Freddie Mac. These GSAs plus the twelve Federal HomeLoan Banks account for more than $5.9 trillion in funding for the US mortgage markets and financialinstitutions.

8/8/2019 The Dow fades slightly but remains extremely overbought

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