Richard Suttmeier is the Chief Market Strategist at www.ValuEngine.com. ValuEngine is a fundamentally-based quant research firm in Newtown, PA.

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http://www.valuengine.com/pub/Unsubscribe? August 10, 2012 The weekly chart for Dow Transports can become negative. 10-Year Note (1.693) Semiannual and quarterly value levels are 1.853 and 1.869 with a daily pivot at 1.676, and weekly, monthly and semiannual risky levels at 1.507, 1.468 and 1.389. Comex Gold ($1617.8) Daily, annual and monthly value levels are $1597.1, $1575.8 and $1525.3 with a weekly pivot at $1602.3, and semiannual risky levels at $1643.3 and $1702.5. Nymex Crude Oil ($93.68) Daily, weekly and monthly pivots at $92.98, $90.04 and $90.40, and annual and quarterly risky levels at $103.58 and $107.63. The Euro (1.2295) Daily, weekly and monthly pivots are 1.2377, 1.2303 and 1.2237. The weekly chart for the euro remains oversold with the five-week modified moving average at 1.2422. The weekly charts for four of the five major averages will be positive with Friday closes above the fiveweek modified moving averages at 12,871 Dow Industrials, 1364.1 S&P 500, 2930 NASDAQ, and 790.27 Russell 2000. Dow Transports shift to negative on close below the five-week modified moving average at 5119. Daily Dow: (13,165) Daily, annual and semiannual value levels are 13,094, 12,312 and 10,738 with a weekly pivot at 13,208, and monthly, annual and quarterly risky levels at 13,625, 14,032 and 14,493. The weekly chart profile stays positive on a weekly close above the five-week modified moving average at 12,871. S&P 500 (1402.8) Daily and annual value levels are 1395.6 and 1363.2 with a weekly pivot at 1403.7, and monthly risky level at 1458.2. The weekly chart profile stays positive on a weekly close above the five-week modified moving average at 1364.1. NASDAQ (3019) Annual and semiannual value levels are 2698 and 2527 with daily and weekly pivots at 3008 and 3001, and monthly and annual risky levels at 3194 and 3232. The weekly chart profile stays positive on a weekly close above the five-week modified moving average at 2930. Dow Transports (5048) My daily value level is 4997 with weekly and monthly risky levels at 5192 and 5373. The weekly chart profile needs a weekly close above the five-week modified moving average at 5119 to turn positive. The all time high is 5627.85 set on July 7, 2011. Russell 2000 (802.90) My daily value level is 789.94 with weekly, annual and monthly risky levels at 812.50, 836.15 and 846.16. The weekly chart profile needs a weekly close above the five-week modified moving average at 790.27 to turn positive. The all time high is 868.57 set on May 2, 2011.
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