the key level is my annual pivot at 1363.2 on the s&p 500

8/2/2019 The Key Level is My Annual Pivot at 1363.2 on the S&P 500

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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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March 8, 2012 The K ey Level i s My Annual P ivot a t 1363.2 on t he S& P 500

We need a weekly close above my annual pivot at 1363.2 SPX to keep the major averages on

the positive side of my overall neutral zone with upside to quarterly / annual risky levels at5448 Dow Transports and 836.15 Russell 2000. This upside would not be a breakout as the 201all time highs are 5627.85 Transports set on July 7th and 868.57 small caps set on May 2nd. Aweekly close below 1363.2 SPX indicates risk to quarterly value levels at 12,478 DowIndustrials, 1305.4 SPX and 2777 NASDAQ. The yield on the 10-Year Treasury remains on thecusp of its 50-day SMA at 1.947. Gold is at risk of a death cross where the 50-day SMA at$1691.4 falls below the 200-day SMA at $1674.7 for the first time since February 2009. Goldneeds to hold these key moving averages. Crude oil again held my semiannual pivot at$104.84. The euro versus the dollar shows risk to my semiannual pivot at 1.2980.

10-Year Note (1.976) My annual value is 2.502 with daily and weekly pivots at 1.971 and 1.956 andannual, weekly and quarterly risky levels at 1.903, 1.874 and 1.687.

Courtesy of Thomson / Reuters


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Comex Gold ($1685.4) Daily, semiannual, annual and weekly value levels are $1655.9, $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 ($106.22) Daily, semiannual, annual, weekly, quarterly, monthly and semiannualvalue levels are $103.91, $104.84, $103.58, $102.74, $99.87, $97.96 and $79.83 with my annual risky

level at $117.00.



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The Euro (1.3145) Daily, semiannual, monthly, and quarterly value levels are 1.3063, 1.2980,1.2622, and 1.2499 with weekly, annual and semiannual risky levels at 1.3534, 1.4239 and 1.4405.


Daily Dow: (12,837) Quarterly, annual, monthly and semiannual value levels are 12,478, 12,312,11,903, 8,425 and 8,336 with daily, weekly and annual risky levels at 12,860, 13,274 and 14,032.



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S&P 500 (1352.6) Quarterly, monthly and semiannual value levels are 1305.4, 1222.5, 841.7 and829.9 with annual, daily, weekly and annual risky levels at 1363.2, 1359.2, 1405.4 and 1562.9. A key

negative would be a weekly close below my annual pivot at 1363.2. NASDAQ (2936) Quarterly, annual, monthly and semiannual value levels are 2777, 2698, 2651,2012 and 1952 with daily, weekly and annual risky levels at 2951, 3102 and 3232.

NASDAQ 100 (NDX) (2608) Monthly, quarterly, annual and semiannual value levels are 2428, 24222300, 1851 and 1743 with my annual pivot at 2603, and daily and weekly risky levels at 2633 and2715.

Dow Transports (5074) Monthly and semiannual value levels are 4470, 4407 and 3778 with daily,weekly, quarterly, and annual risky levels at 5123, 5403, 5448, 5861 and 6111. The all time high wasset at 5627.85 on July 11, 2011.

Russell 2000 (795.95) Monthly and semiannual value levels are 684.13, 572.90 and 510.81 with adaily pivot at 786.80, quarterly pivots at 824.46 and 829.03, and annual and weekly risky levels at836.15 and 861.98. The all time high was set at 868.57 on May 2, 2011.

The SOX (412.24) Quarterly, monthly, annual and semiannual value levels are 390.17, 323.52,269.80, 277.90 and 194.47 with a daily pivot at 412.79, and weekly and annual risky levels at 459.41and 520.61. The 2011 high is 474.33 set on February 18, 2011.

ValuEngine Valuation Model: Monthly benchmark revisions are favorable for stocks.

61.5% of all stocks are undervalued / 38.5% of all stocks are overvalued. Back on October 4th -93.5% of all stocks were undervalued.

Eleven of sixteen sectors are overvalued; Three are overvalued by double-digit percentages.Sectors range from 13.0% overvalued to 8.1% undervalued, which is a neutral configuration.Back in March 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 whats 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 multiple

short 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 pricestrength. This is done on a GTC Limit Order to sell strength to the Risky Level.

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

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the key level is my annual pivot at 1363.2 on the s&p 500

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