The Russell 2000 is back above my annual pivot at 836.15

8/2/2019 The Russell 2000 is back above my annual pivot at 836.15.

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March 27, 2012 – The Russel l 2000 is back above my annual p ivot a t 836.15.

The Russell 2000 closed above my annual pivot at 836.15 a week ago Monday but failed to stay

above this key level. Will this week be the charm? Lagging further is the Dow Transports, whicremains the only major average below its quarterly risky level at 5448. The upside for the weekis to my weekly risky levels at; 13,315 Dow Industrials, 1428.9 SPX, 3157 NASDAQ and 847.77Russell 2000. Keep in mind that Dow Transports and Russell 2000 continue to lag 2011 all timehighs at 5627.85 set on July 7th and 868.57 set on May 2nd. The yield on the 10-Year US Treasurremains above its 200-day simple moving average at 2.195 and is influenced by my weeklypivot at 2.248, which was a magnet on Monday. Gold got back above its 200-day SMA at $1683.after seven days below that key level. Crude oil remains above my annual pivot at $103.58 withthis week’s risky level at $110.42. The euro versus the dollar is influenced by this week’s pivotat 1.3201, which held on Monday.

10-Year Note – (2.239) Daily and annual value levels are 2.294 and 2.502 with a weekly pivot at2.248, and semiannual and quarterly risky levels at 1.903 and 1.687.

Courtesy of Thomson / Reuters



Comex Gold – ($1691.8) My annual value level is $1575.8 with daily, weekly and semiannual pivots a$1683.4, $1675.7, $1659.5 and $1635.8, and quarterly and monthly risky levels at $1740.9 and

$1888.4.


Nymex Crude Oil – ($107.10) Annual, quarterly, monthly and semiannual value levels are $103.58,$99.87, $97.96 and $79.83 with semiannual and daily pivots at $104.84 and $107.55, and weekly and

annual risky levels at $110.42 and $117.00.




The Euro – (1.3361) Semiannual, monthly, and quarterly value levels are 1.2980, 1.2622, and 1.2499with my weekly pivot at 1.3201, and daily, annual and semiannual risky levels at 1.3440, 1.4239 and

1.4405.


Daily Dow: (13,241) Quarterly, annual, monthly and semiannual value levels are 12,478, 12,312,11,903, 8,425 and 8,336 with a daily pivot at 13,168, and weekly and annual risky levels at 13,315 and14,032.




S&P 500 – (1416.5) Annual, quarterly, monthly and semiannual value levels are 1363.2, 1305.4,1222.5, 841.7 and 829.9 with a daily pivot at 1416.3, and weekly and annual risky levels at 1428.9 and

1562.9.NASDAQ – (3123) Quarterly, annual, monthly and semiannual value levels are 2777, 2698, 2651,2012 and 1952 with a daily pivot at 3118, and weekly and annual risky levels at 3157 and 3232.

NASDAQ 100 (NDX) – (2778) Annual, monthly, quarterly, annual and semiannual value levels are2603, 2428, 2422, 2300, 1851 and 1743 with a daily pivot at 2770, and weekly risky level at 2810.

Dow Transports – (5289) Weekly, monthly and semiannual value levels are 5124, 4470, 4407 and3778 with daily, quarterly, and annual risky levels at 5419, 5448, 5861 and 6111. The all time high wasset at 5627.85 on July 11, 2011. A weekly close below its five-week modified moving average at 5121 shifts the weekly chart to negative.

Russell 2000 – (846.11) Monthly and semiannual value levels are 684.13, 572.90 and 510.81 withdaily, quarterly and annual pivots at 843.73, 829.03 and 836.15, and weekly risky level at 847.77. Theall time high was set at 868.57 on May 2, 2011.

The SOX – (441.89) Quarterly, monthly, annual and semiannual value levels are 390.17, 323.52,269.80, 277.90 and 194.47 with daily, weekly and annual risky levels at 447.99, 443.09 and 520.61.The 2011 high is 474.33 set on February 18, 2011.

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93.5% of all stocks were undervalued.• Fifteen of sixteen sectors are overvalued; four by double-digit percentages. Finance is 16.7%

OV. Computers & Technology is 21.0% OV. Retail-Wholesale is 18.6% OV. Back in March 2009all sectors were undervalued by 33% to 45%.

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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 price strength. This is done on a GTC Limit Order to sell strength to the Risky Level.

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The Russell 2000 is back above my annual pivot at 836.15