Tracking Market Levels

8/14/2019 Tracking Market Levels

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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.

Suttmeier's ForexTV Main Street vs Wall Street can be watched on the web HERE.

March 3, 2010 Track ing Mark et Levels

The yield on the 10-Year reflects continued risk aversion. The pop in gold is shy of my annualpivot as ranges prevail. Crude oil stays influenced by annual and monthly pivots. The euro is nolonger oversold, but cable is. The major equity averages are overbought on their daily charts.

Tuesdays Price Action

Japanese

Daily 10-Year Gold Crude Oil Euro Yen The Dow Nasdaq

3/2/2010 3.614 1134.8 79.72 1.3604 88.72 10,406 2281

3/1/2010 3.606 1117.9 78.75 1.3560 89.07 10,404 2274

Daily Chg 0.008 16.9 0.97 0.0044 -0.35 2 7

12/31/2009 3.841 1097.4 79.62 1.4324 92.95 10,428 2269YTDChange -0.227 37.4 0.1 -0.072 -4.23 -22 12

Supports 3.675 S 1108.8 D 77.05 A 1.3439 W 87.53 W 10,341 D 2176 W4.250 S 1084.9 Q 74.39 W 84.74 M 10,157 W 1659 A

938.7 A 67.22 Q 82.69 Q 6,705 Q 1405 Q

80.22 A

Pivots 1114.7 W 79.81 D 1.3543 D 88.22 D 10,379 A 2250 A

1115.2 A 80.05 W 2258 S

Resistances 3.540 D 1139.7 S 85.21 Q 1.4327 Q 92.73 S 11,235 A 2392 S

3.477 M 1186.5 S 97.29 A 1.4504 M 105.10 S 11,442 S 2430 M

3.470 W 1195.4 M 97.50 S 1.4719 Q 11,461 M

2.999 A

Five-Week 3.645 1105.2 76.78 1.3913 90.23 10,273 2213

Five- Month 3.483 1051.9 73.93 1.4118 91.43 9,830 2088

Int Sent 3.0 / 3.3 3.2 / 3.4 4.8 / 5.1 1.3 / 1.2 6.3 / 5.9 5.2 / 5.1 5.6 / 5.5

LT Sent 3.3 / 3.1 8.1 / 7.8 6.4 / 7.0 6.9 / 6. 2.8 / 2.8 7.1 / 7.6 7.5 / 7.9

Supports Levels that are likely to hold on weakness. Pivots Levels that could be tested as magnets. Resistances Levels that are likely to restrain strength (D-Daily, W-Weekly, M-Monthly, Q-Quarterly, S-Semiannual and A-Annual).Five-Week The five-week modified moving average. Five-Month The five-month modified moving average.Int Sent 12x3x3 weekly slow stochastic reading on a scale of 0.0 and 10.0. LT Sent 12x3x3 monthly slow stochasticreading. (Below 2.0 is oversold, above 8.0 is overbought. Rising is positive. Declining is negative).Weekly Chart Profiles Above the Five-Week with rising Int Sent is positive. Below the Five-Week with declining Int Sentis negative.Monthly Chart Profiles Above the Five-Month with rising LT Sent is positive. Below the Five-Month with declining LTSent is negative.


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10-Year Note Semiannual support is 3.675 with daily, monthly and weekly resistances at 3.540,3.477 and 3.470. Still richer than my semiannual pivot at 3.675 favoring risk aversion!

Courtesy of Thomson / Reuters

Comex Gold Daily, quarterly and annual supports are $1108.8, $1084.9 and $938.7 with weekly andannual pivots at $1114.7 and $1115.2, and semiannual and monthly resistances at $1139.7, $1186.5

and $1195.4. Strength on Tuesday was shy of my semiannual pivot at $1139.7.



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Nymex Crude Oil Annual, weekly and quarterly supports are $77.05, $74.39 and $67.22 with dailyand monthly pivots at $79.81 and $80.05, and quarterly, annual and semiannual resistances at $85.21,$97.29 and $97.50. My monthly pivot at $80.05 was a magnet again on Tuesday.


The Euro Weekly support is 1.3439 with a daily pivot at 1.3543, and quarterly and monthly

resistances at 1.4327 and 1.4504. The euro is stabilizing above 1.34.



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The Dollar versus Japanese Yen Weekly, monthly, quarterly and annual supports are 87.53, 84.74,82.69 and 80.22 with a daily pivot at 88.22 and semiannual resistance at 92.73.


The British Pound Daily support is 1.4867 with a weekly pivot at 1.5325 and monthly resistance at1.5663.



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The Major Equi t y Avera ges

2-Mar YTD 31-Dec Cycle Cycle Date of % High % Off % Of

Market Price Gains Price Lows Highs Highs To Lows Lows Highs

The Dow 10,406.00 -0.2% 10,428.00 6,469.95 14,198.10 Oct-07 -54.4% 60.8% 26.7%

S&P 500 1,118.30 0.3% 1,115.10 666.92 1,576.06 Oct-07 -57.7% 67.7% 29.0%

Nasdaq 2,281.00 0.5% 2,269.00 1,265.52 2,861.51 Oct-07 -55.8% 80.2% 20.3%

Utilities 373.98 -6.0% 398.01 288.66 555.71 Jan-08 -48.1% 29.6% 32.7%

Transports 4,149.00 1.2% 4,100.00 2,134.21 5,536.57 May-08 -61.5% 94.4% 25.1%

Russell 2000 648.31 3.7% 625.39 342.59 862.00 Jul-07 -60.3% 89.2% 24.8%

Semis (SOX) 349.39 -2.9% 359.91 167.55 549.39 Jul-07 -69.5% 108.5% 36.4%

Dow Daily and weekly supports are 10,341 and 10,157 with my annual pivot at 10,379. Quarterlysupport is 6,705 with annual, monthly and semiannual resistances are 11,235, 11,461, 11,442 and11,949.

S&P 500 Daily and weekly supports are 1110.3 and 1086.3. Annual and quarterly supports are1014.2, 701.8 and 681.7 with annual, semiannual and monthly resistances at 1179.0, 1194.6 and1212.9.

NASDAQ Weekly support is 2176 with annual, daily and semiannual pivots at 2250, 2257 and 2258.

Annual and quarterly supports are 1659, 1440 and 1405 semiannual and monthly resistances at 2392and 2430.

Dow Utilities Weekly support is 358.10 with a daily pivot at 372.67 and monthly resistance at 391.82.Quarterly support is 280.79 with annual and semiannual resistances at 456.73, 471.95 and 492.05.

Dow Transports Weekly support is 3983 with daily resistance at 4223. Quarterly supports are 3386and 3225 with annual, semiannual and monthly resistances at 4324, 4488 and 4513. Annual andsemiannual resistances are 4955 and 5218.

Russell 2000 Weekly support is 617.75 with a daily pivot at 641.27. Quarterly support is 421.24 withsemiannual, monthly and annual resistances at 673.50, 682.85, 717.69, 723.54 and 748.99.

The SOX Weekly support is 313.87 with a daily pivot at 342.76 and semiannual resistance at 358.89.Semiannual, annual and quarterly supports are 271.90, 259.45, 241.05 and 207.69 with monthlyresistance at 379.97.

Send me your comments and questions to [email protected]. For more information on ourproducts and services visit www.ValuEngine.com

Thats todays Four in Four. Have a great day.


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Richard SuttmeierChief 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 sample

issues of my research.

I Hold No Positions in the Stocks I Cover.

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Tracking Market Levels