Weekly Key Reversal for Gold as Stock Ranges Hold

8/2/2019 Weekly Key Reversal for Gold as Stock Ranges Hold

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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 5, 2012 Weekl y Key Reversal for Gold as Stoc k Ranges Hold

We begin March with the same neutral zone; my quarterly value levels are 12,478 Dow

Industrials, 1305.4 SPX and 2777 NASDAQ with an annual pivot at 1363.2 S&P 500, andquarterly / annual risky levels at 5448 Dow Transports and 836.15 Russell 2000. This monthsvalue levels are 11,903 Dow Industrials, 1222.5 SPX, 2651 NASDAQ, 4470 Dow Transports and684.13 Russell 2000. This weeks risky levels are 13,274 Dow Industrials, 1405.4 SPX, 3102NASDAQ, 5403 Dow Transports and 861.98 Russell 2000. We can see new highs for the movefor Industrials, S&P 500 and NASDAQ, but Dow Transports and Russell 2000 should continueto lag well behind their all time highs set at 5627.85 Dow Transports on July 7th and at 868.57Russell 2000 on May 2nd. It is possible that Transports and small caps drag down Industrials,SPX and NASDAQ. The yield on the 10-Year Treasury failed at my semiannual risky level at1.903. Gold closed below $1727.0 defining a weekly key reversal. Watch for the potential golddeath cross with the 50-day and 200-day SMAs at $1687.1 and $1672.0. Crude oil tested my

semiannual pivot at $104.84 at last weeks low. The euro versus the dollar has a weekly riskylevel at 1.3534 with risk to my semiannual pivot at 1.2980.

10-Year Note (1.984) My annual value is 2.502 with a weekly pivot at 1.956 and daily, annual,weekly and quarterly risky levels at 1.900, 1.903, 1.874 and 1.687.

Courtesy of Thomson / Reuters


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Comex Gold ($1712.9) Semiannual, annual and weekly value levels are $1659.5, $1635.8,$1575.8, $1593.9 with daily and quarterly pivots at $1734.4 and $1740.0, and weekly and monthly

risky levels at $1808.4 and $1888.4. Last week was a key reversal.


Nymex Crude Oil ($106.67) Semiannual, annual, weekly, quarterly, monthly and semiannual valuelevels are $104.84, $103.58, $102.74, $99.87, $97.96 and $79.83 with daily and annual risky levels at

$109.48 and $117.00.



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The Euro (1.3200) Semiannual, monthly, and quarterly value levels are 1.2980, 1.2622, and 1.2499with daily, weekly, annual and semiannual risky levels at 1.3412, 1.3534, 1.4239 and 1.4405.


Daily Dow: (12,978) Quarterly, annual, monthly and semiannual value levels are 12,478, 12,312,11,903, 8,425 and 8,336 with a daily pivot at 12,986, and weekly and annual risky levels at 13,274 and14,032.



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S&P 500 (1369.6) Quarterly, monthly and semiannual value levels are 1305.4, 1222.5, 841.7 and829.9 with annual and daily pivots at 1363.2 and 1372.4, and weekly and annual risky levels at 1405.4

and 1562.9.NASDAQ (2976) Quarterly, annual, monthly and semiannual value levels are 2777, 2698, 2651,2012 and 1952 with a daily pivot at 2988, and weekly and annual risky levels at 3102 and 3232.

NASDAQ 100 (NDX) (2642) Monthly, quarterly, annual and semiannual value levels are 2428, 24222300, 1851 and 1743 with annual and daily pivots at 2603 and 2647, and weekly risky level at 2715.

Dow Transports (5160) Monthly and semiannual value levels are 4470, 4407 and 3778 with a dailypivot at 5158, and weekly, quarterly, and annual risky levels at 5403, 5448, 5861 and 6111. The alltime high was set at 5627.85 on July 11, 2011.

Russell 2000 (802.43) Monthly and semiannual value levels are 684.13, 572.90 and 510.81 with

daily and quarterly pivots at 811.06, 824.46 and 829.03, and annual and weekly risky levels at 836.15and 861.98. The all time high was set at 868.57 on May 2, 2011.

The SOX (420.35) Quarterly, monthly, annual and semiannual value levels are 390.17, 323.52,269.80, 277.90 and 194.47 with a daily pivot at 422.31, and weekly and annual risky levels at 460.92and 520.61. The 2011 high is 474.33 set on February 18, 2011.

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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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Weekly Key Reversal for Gold as Stock Ranges Hold