Richard Suttmeier is the Chief Market Strategist at www.ValuEngine.com.

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Jul y 1, 2014 Mi d-year ends w i t h new hi ghs on t he Nasdaq, Nasdaq 100 and Dow Ut i l i t i es!

The Nasdaq and Nasdaq 100 set new multiyear intraday highs on J une 30 at 4417.46 and 3860.65,
respectively. The Dow Utility Average set a new all-time intraday high at 576.98.

The first half performance winner was the PHLX Semiconductor Index (SOX) with a gain of 18.9%
followed by utilities with a gain of 17.4% the Transports up 10.8%.

The weekly charts are positive for all five major equity averages with overbought conditions on Dow
Industrials, S&P 500, Nasdaq and Dow Transports and with the Russell 2000 with rising stochastics.

The five-week modified moving averages are 16720 Dow industrials, 1925.1 S&P 500, 4275 Nasdaq,
8006 Dow Transports and 1159.15 Russell 2000.

A weekly value level is 1174.78 on the Russell 2000 with weekly risky levels at 16987 Dow Industrials,
1974.6 S&P 500, 4407 Nasdaq and 8405 Dow Transports.

Regardless of the upside potential there is risk to annual value levels in the second half of 2014 at
14835 and 13467 Dow Industrials, 1539.1 and 1442.1 S&P 500, 3471 and 3063 Nasdaq, 6249 and
5935 Dow Transports and 966.72 and 879.39 Russell 2000.
Note the new monthly, quarterly and semiannual risky levels.
Dow Industrials: (16827) Semiannual and annual value levels are 16301, 14835 and 13467 with a
daily pivot at 16836, the J une 20 all-time intraday high at 16978.02 and weekly, monthly, quarterly and
semiannual risky levels at 16987, 17364, 17753 and 18552.
S&P 500 (1960.2) Semiannual and annual value levels are 1789.3, 1539.1 and 1442.1 with a daily
pivot at 1961.5, the J une 24 all-time intraday high at 1968.17 and weekly, monthly, quarterly and
semiannual risky levels at 1974.6, 1994.2, 2052.3 and 2080.3.
NASDAQ (4408) Semiannual and annual value levels are 3972, 3471 and 3063 with daily and
weekly pivots at 4397 and 4407, the J une 30 multiyear intraday high at 4417.46 and monthly, quarterly
and semiannual risky levels at 4529, 4569 and 4642.

NASDAQ 100 (NDX) (3849) Semiannual and annual value levels are 3515, 3078 and 2669 with a
daily pivot at 3841, the J une 30 multiyear intraday high at 3860.65, and weekly, quarterly, monthly and
semiannual risky levels at 3883, 3894, 3936 and 4105.

Dow Transports (8202) Semiannual and annual value levels are 7423, 6249 and 5935 with a daily
pivot at 8165, the J une 9 all-time intraday high at 8256.79 and quarterly, monthly, weekly and
semiannual risky levels at 8256, 8365, 8405 and 8447.

Russell 2000 (1192.96) Weekly, semiannual and annual value levels are 1174.78, 1139.81, 966.72
and 879.39 with a daily pivot at 1187.86, the March 4 all-time intraday high at 1212.82 and monthly,
semiannual and quarterly risky levels at 1215.89, 1285.37 and 1293.11.
The SOX (635.93) Daily, quarterly, semiannual and annual value levels are 631.54, 626.96, 608.02,
512.94, 371.58 and 337.74 with the J une 24 multiyear intraday high at 637.91 and weekly and monthly
risky levels at 642.33 and 642.34.

Dow Utilities: (575.98) Monthly, weekly, annual, quarterly, semiannual and annual value levels are
563.44, 558.20, 548.70, 536.44, 523.72 and 497.53, with a daily pivot at 575.65, the J une 30 all-time
intraday high at 576.98 and semiannual risky level at 612.49.

10-Year Note (2.521) Monthly and quarterly value levels are 2.787 and 3.048 with daily and weekly
pivots at 2.539 and 2.530 and annual and semiannual risky levels at 2.263, 1.999 and 1.779.
30-Year Bond (3.347) Daily, weekly, monthly and quarterly value levels are 3.381, 3.423, 3.486 and
3.971 with annual and semiannual risky levels at 3.283, 3.107 and 3.082.
Comex Gold ($1329.0) Weekly, quarterly and monthly value levels are $1281.1, $1234.6 and
$1233.8 with daily, semiannual and annual risky levels at $1366.3, $1613.0, $1738.7, $1747.4 and
$1818.8.
Nymex Crude Oil ($105.41) No value levels with monthly and daily pivots at $105.23 and $105.74
and semiannual, annual, weekly and quarterly risky levels at $106.48, $107.52, $108.45 and $113.12..
The Euro (1.3692) Weekly, annual and semiannual value levels are 1.3415, 1.3382 and 1.2203 with
a daily pivot at 1.3675 and monthly, quarterly, semiannual and annual risky levels at 1.3819, 1.4079,
1.4617 and 1.5512.

The Dollar versus Japanese Yen (101.31) My annual value level is 93.38 with daily and weekly
pivots at 101.48 and 101.42 and monthly and quarterly risky levels at 106.47 and 112.83.

The British Pound (1.7111) Weekly, quarterly and annual value levels are 1.6935, 1.6874 and
1.6262 with a daily pivot at 1.7087 and semiannual and monthly risky levels at 1.7302 and 1.7438.

To learn more about ValuEngine check out www.ValuEngine.com. Any comments or questions contact
me at RSuttmeier@gmail.com.