8/6/2019 Weekly Charts for the Major Equity Averages Remain Negative.

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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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June 27 , 2011 Weekl y Char ts for the Major Equi ty Averages Remain Negat ive .

The weekly charts for all major equity averages are negative, but I show weekly value levels

this week that should limit the damage. Thursdays (June 30th

) closes establish new monthly,quarterly and semiannual value levels, pivots and risky levels from my proprietary analyticswhich will set the risk / reward parameters for the second half of the year. For the DowIndustrial Average weekly and annual value levels are 11,671 and 11,491 with the five-weekmodified moving average at 12,193. The downside risk on the weekly charts is the 200-weeksimple moving averages at 10,796 Dow Industrial Average, 1163.7 SPX, 2249 NASDAQ, 1823NDX, 4325 Dow Transports, 657.20 Russell 2000, and 346.90 SOX.

10-Year Note (2.867) The 200-day simple moving average is 3.123 with daily and weekly riskylevels at 2.764 and 2.755. The weekly chart shows that the decline in yields is overdone with a yieldup trend going back to the end of 2008 and the 200-week SMA at 3.448. The federal funds rate was originally cut to 0 to percent began with that record low yield in mid-December 2008.

Courtesy of Thomson / Reuters

8/6/2019 Weekly Charts for the Major Equity Averages Remain Negative.

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Comex Gold ($1501.4) Weekly, semiannual and annual value levels are $1471.6, $1452.6 and$1356.5 with my quarterly pivot at $1523.7, and daily and monthly risky levels at $1533.1 and

$1574.3. The weekly chart is negative and gold is below its 50-day SMA at $1518.4.

Courtesy of Thomson / Reuters

Nymex Crude Oil ($91.11) Semiannual, daily and weekly value levels are $87.52, $87.07 and

$80.26 with the 200-day SMA at $92.71 and annual pivots at $99.91 and $101.92. The long term up trend is the 200-week SMA now at $83.47.

8/6/2019 Weekly Charts for the Major Equity Averages Remain Negative.

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Courtesy of Thomson / Reuters

The Euro (1.4173) Daily and weekly value levels are 1.4062 and 1.3744 with monthly and quarterlypivots at 1.4258 and 1.4308, and semiannual risky level at 1.4624. The 200-week SMA is 1.4014 with the 50-day SMA at 1.4402.

Courtesy of Thomson / Reuters

Weekly Dow: (11,935) The weekly chart stays negative with declining MOJO and weekly closes belowthe five-week modified moving average at 12,186. My weekly and annual value levels are 11,671 and

11,491 with monthly, quarterly and annual risky levels at 13,663, 13,774 and 13,890. A break of the up trend indicates risk to the 200-week simple moving average at 10,795.

Courtesy of Thomson / Reuters

8/6/2019 Weekly Charts for the Major Equity Averages Remain Negative.

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S&P 500 (1268.5) My weekly value level is 1241.3 with the 200-day simple moving average at1263.5 with a daily pivot at 1264.6, and the 5-week modified moving average at 1299.1. The 5-month

MMA is 1276.4.NASDAQ (2653) Daily and weekly value levels are 2621 and 2583 with the 200-day simple movingaverage is 2652. The 5-week and 5-month modified moving averages are 2716 and 2675.

NASDAQ 100 (NDX) (2217) Daily and weekly value levels are 2190 and 2172 with the 200-daysimple moving average is 2236. The 5-week and 5-month modified moving averages are 2277 and2244.

Dow Transports (5214) My weekly value level is 5058 with annual and daily pivots at 5179 and5251 with the 200-day simple moving average at 5062, and the 50-day SMA at 5323. The 5-week and5-month modified moving averages are 5250 and 5090.

Russell 2000 (797.79) My weekly value level is 756.79 with the 200-day simple moving average at777.13, my annual pivot at 784.16, and a daily pivot at 791.73. The 5-week and 5-month modifiedmoving averages are 809.47 and 790.71.

The SOX (392.50) Daily and weekly value levels are 382.62 and 382.62 with the 200-day simplemoving average at 411.59. The 5-week and 5-month modified moving averages are 414.96 and418.78.

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.

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.comI have 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. You can go to http://www.valuengine.com/nl/mainnl to review sample issuesand find out more about my research.

I Hold No Positions in the Stocks I Cover.