upward mojo continues with more averages above pivots

8/3/2019 Upward MOJO continues with more averages above Pivots.

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Januar y 19, 2011 – Upw ard MOJO cont inues w i t h more averages above Pivots.

Technically the daily charts for the major averages are overbought. With the Dow having its

first close above my quarterly pivot at 12,478 on Tuesday, I stated that the upside is to quarterlrisky levels elsewhere. We now have the following new tests / technical breakouts; SPX >1305.4, NDX > 2422, and SOX > 390.17. The NASDAQ stayed shy of 2777 Q with Dow Transportswell below 5448 Q and Russell 2000 well below 829.03. This is all within the framework ofseeing the Dow Industrials staying below its May 2011 high at 12,876. The yield on the 10-Yearcontinues to trade around my semiannual pivot at 1.903. Gold continues to trade around mysemiannual pivot at $1659.4 with this month’s risky level at $1706.7. Gold’s is between its 200-day and 50-day simple moving averages at $1635.5 and $1675.4. Crude oil continues to beinfluenced by my quarterly pivot at $99.87 after failing at the low end of my zone of annual andsemiannual risky levels at $103.58 and $104.84. Oil is above 50-day and 200-day simple movingaverages at $99.04 and $95.52. The euro versus the dollar is no longer oversold and continues

to be influenced by my monthly pivot at 1.2780 with my semiannual pivot at 1.2980.10-Year Note – (1.897) My annual value level is 2.502 with semiannual, daily and weekly pivots at1.903, 1.858 and 1.880, and quarterly, monthly and semiannual risky levels at 1.687, 1.409 and 1.385

Courtesy of Thomson / Reuters



Comex Gold – ($1661.2) Annual and weekly value levels are $1575.8, $1388.4 and $1569.2 withdaily, semiannual pivots at $1658.0, $1635.8 and $1659.5, and monthly and quarterly risky levels at

$1706.7 and $1740.9.


Nymex Crude Oil – ($100.87) Semiannual and monthly value levels are $79.83 and $75.53 with dailymonthly, and weekly pivots at $99.89, $99.87 and $100.40, and semiannual and annual risky levels at$104.84, and $103.58 and $117.00.




The Euro – (1.2856) Daily, weekly, quarterly and weekly value levels are 1.2746, 1.2506, 1.2499 and1.2467 with monthly and semiannual pivots at 1.2780 and 1.2980, and annual and semiannual risky

levels at 1.4239 and 1.4405.


Daily Dow: (12,579) Monthly and semiannual value levels are 11,210, 8,425 and 8,336 with annual,daily, weekly and quarterly pivots at 12,312, 12,517, 12,430 and 12,478, and quarterly and annualrisky levels at 12,796 and 14,032..




S&P 500 – (1308.0) Monthly and semiannual value levels are 1152.8, 841.7 and 829.9 with weekly,daily and quarterly pivots at 1285.8, 1305.0 and 1305.4, and annual risky levels at 1363.2 and 1562.9

NASDAQ – (2770) Weekly, monthly and semiannual value levels are 2670, 2432, 2012 and 1952 withannual and daily pivots at 2698 and 2767, and quarterly and annual risky levels at 2777 and 3232.

NASDAQ 100 (NDX) – (2426) Weekly, annual, monthly and semiannual value levels are 2341, 2300,2185, 1851 and 1743 with daily and quarterly pivots at 2417 and 2422 and annual risky level at 2603.

Dow Transports – (5218) Monthly and semiannual value levels are 4443, 4407 and 3778 with dailyand weekly pivots at 5268 and 5123, quarterly and annual risky levels at 5448, 5861 and 6111.

Russell 2000 – (779.26) Monthly and semiannual value levels are 646.71, 572.90 and 510.81 withweekly and daily pivots at 755.22 and 779.72, and quarterly and annual risky levels at 829.03, 836.15and 969.09.

The SOX – (404.60) Weekly, monthly, annual and semiannual value levels are 367.06, 310.48,269.80, 277.90 and 194.47 with quarterly and daily pivots at 390.17 and 403.97, and annual risky leveat 520.61.

ValuEngine Valuation Model – Stocks remain fundamentally cheap.• 70.9% of all stocks are undervalued / 29.1% of all stocks are overvalued. On October 4 th -

93.5% of all stocks were undervalued. Keep in mind that with the 30-Year bond yield below3.00% and with about 70% of stocks undervalued this market tends to top out.

• All sixteen sectors are undervalued, ten by double-digit percentages (10.5% to 17.0%). Back inMarch 2009 the sectors were undervalued by 33% to 45%. – Check out and subscribe towww.ValuEngine.com.

VE Morning Briefing – If you want expanded analysis of the US Capital Markets including a FearlessPrediction of the Week and a Stock of the Day go to this link and sign up:http://www.valuengine.com/nl/mainnl?nl=D

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ValuEngine FDIC Evaluation Report – In this report I slice and dice the FDIC Quarterly Banking

Profile. We publish a ValuEngine List of Problem Banks in this publication:http://www.valuengine.com/nl/mainnl?nl=C The December FDIC report with complete analysis ofthe Q3 Quarterly Banking Profile is now available. I track the continuing slow improvement to thehousing market and banking system, but recognize that we are not out of the war.

ValuEngine Capital Management - Over the years many of my readers have asked for investmenthelp based upon ValuEngine and my technical analysis expertise. This is now possible through VECapital Management LLC. If you are a Registered Investment Advisor looking for new products to offeto your clients, let me know. If you have any questions, please respond to this email.



Definition of MOJO – This is my term for technical momentum. I use what’s 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 price strength. 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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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 tohttp://www.valuengine.com/nl/mainnl to review sample issues and find out more about my research.

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upward mojo continues with more averages above pivots

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