The NASDAQ is well above its Nov ’07 high while Transports and Small Caps lag all time highs set in 2011

8/2/2019 The NASDAQ is well above its Nov 07 high while Transports and Small Caps lag all time highs set in 2011.

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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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Marc h 19, 2012 The NASDAQ is w el l above i ts Nov 07 h igh w hi le Transport s and

Smal l Caps lag a l l t ime highs set in 2011.

Over the past three weeks or so I have predicted that the major averages would pop to weeklyrisky levels. I expected the Dow Industrials, S&P 500 and NASDAQ to set new 52-week highswhile Dow Transports and Russell 2000 continue to lag their 2011 all time highs at 5627.85 seton July 7th and 868.57 set on May 2nd. This weeks key levels keep this prediction in tact.Holding my weekly pivot at 13,195 on Dow Industrials and 5246 Dow Transports, targets weeklyrisky levels at 1413.4 SPX, 3128 NASDAQ, and 855.08 Russell 2000. Another way to define anoverall neutral zone is between my annual pivot at 1363.2 SPX and the annual risky level at836.15 Russell 2000. Closes above 836.15 for small caps, thus keys the upside this week. Theyield on the 10-Year US Treasury is above its 200-day simple moving average at 2.220 with myannual value level at 2.502. Gold is below its 200-day at $1679.1 with my annual value level at$1575.8. Crude oil is between my annual pivot at $103.58 and this weeks risky level at $110.31.

The euro versus the dollar remains above its semiannual pivot at 1.2980.

10-Year Note (2.292) Daily and annual value levels are 2.341 and 2.502 with weekly, semiannualand quarterly risky levels at 2.056, 1.903 and 1.687.

Courtesy of Thomson / Reuters


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Comex Gold ($1660.2) My annual value level is $1575.8 with semiannual pivots at $1659.5 and$1635.8, and daily, quarterly, weekly and monthly risky levels at $1679.9, $1740.9, $1762.4 and

$1888.4.


Nymex Crude Oil ($107.29) Annual, quarterly, monthly and semiannual value levels are $103.58,$99.87, $97.96 and $79.83 with my semiannual pivot at $104.84, and daily, weekly and annual riskylevels at $108.25, $110.31 and $117.00.



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The Euro (1.3165) Semiannual, monthly, and quarterly value levels are 1.2980, 1.2622, and 1.2499with a daily pivot at 1.3149, and weekly, annual and semiannual risky levels at 1.3461, 1.4239 and

1.4405.


Daily Dow: (13,233) Quarterly, annual, monthly and semiannual value levels are 12,478, 12,312,11,903, 8,425 and 8,336 with a weekly pivot at 13,195, and daily and annual risky levels at 13,400 and14,032.



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S&P 500 (1404.2) Annual, quarterly, monthly and semiannual value levels are 1363.2, 1305.4,1222.5, 841.7 and 829.9, and weekly, daily and annual risky levels at 1413.4, 1425.9 and 1562.9.

NASDAQ (3055) Quarterly, annual, monthly and semiannual value levels are 2777, 2698, 2651,2012 and 1952 with daily, weekly and annual risky levels at 3118, 3128 and 3232.

NASDAQ 100 (NDX) (2713) Annual, monthly, quarterly, annual and semiannual value levels are2603, 2428, 2422, 2300, 1851 and 1743 with daily and weekly risky levels at 2763 and 2772.

Dow Transports (5351) Weekly, monthly and semiannual value levels are 5246, 4470, 4407 and3778 with daily, quarterly, and annual risky levels at 5400, 5448, 5861 and 6111. The all time high wasset at 5627.85 on July 11, 2011.

Russell 2000 (830.18) Monthly and semiannual value levels are 684.13, 572.90 and 510.81 withquarterly pivots at 824.46 and 829.03, and annual, daily and weekly risky levels at 836.15, 852.86 and

855.08. The all time high was set at 868.57 on May 2, 2011.

The SOX (435.41) Quarterly, monthly, annual and semiannual value levels are 390.17, 323.52,269.80, 277.90 and 194.47 with a weekly pivot at 437.07, and daily and annual risky levels at 445.76and 520.61. The 2011 high is 474.33 set on February 18, 2011.

ValuEngine Valuation Model: The pendulum swings further to overvalued from undervalued. 48.6% of all stocks are undervalued / 51.4% of all stocks are overvalued. Back on October 4th

93.5% of all stocks were undervalued. Fifteen of sixteen sectors are overvalued; six by double-digit percentages. Back in March 2009

all sectors were undervalued by 33% to 45%.

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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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The NASDAQ is well above its Nov ’07 high while Transports and Small Caps lag all time highs set in 2011