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VIDEODow Pressed Both Pivots at 10,379 and 10,558
By
Richard Suttmeier
Jul 30, 2010 8:20 am
A weekly close below the annual pivot at 10,379 would be negative. A weekly close above the semiannual pivot at 10,558 puts the annual risky level back on the radar screen at 11,235.
Editor's Note: This article was written by Richard Suttmeier, chief market strategist at ValuEngine.com, which is a fundamentally-based quant research firm in Princeton, New Jersey, that covers more than 5,000 stocks every day.
10-Year Note -- (3.003) This yield is ending July trading around my annual pivot at 2.999. Semiannual and quarterly value levels are 3.479 and 3.486 with my annual pivot at 2.999, and weekly and annual risky levels at 2.875 and 2.813. Quarterly and semiannual risky levels are 2.495 and 2.249.
Source: Thomson / Reuters
Comex Gold -- ($1168.40) Quarterly and annual value levels are $1140.9 and $1115.2 with a daily pivot at $1172.3, and semiannual, weekly, semiannual, and monthly risky levels at $1218.7, $1222.3, $1260.8, and $1279.3. Note the importance of holding the 200-day simple moving average at $1146.5.
Source: Thomson / Reuters
Nymex Crude Oil -- ($78.26) My annual pivot is $77.05 with a weekly pivot at $77.89, and daily and monthly pivots at $79.50 and $79.36 and semiannual risky level at $83.94. My quarterly value level is $56.63.
Source: Thomson / Reuters
The Euro -- (1.3074) My weekly value level is 1.2797 with a daily pivot at 1.2962. Monthly and quarterly value levels are 1.2035 and 1.1424 with semiannual risky level at 1.4733.
Source: Thomson / Reuters
Daily Dow: (10,467) Weekly value level is 10,212 with my annual pivot at 10,379, my semiannual pivot at 10,558, and daily and monthly risky levels at 10,644 and 10,891. The 200-day simple moving average is 10,409. My quarterly value level is 7,812 with my annual risky level at 11,235, which was tested at the April 26 high at 11,258. This test marked the end of the bear market rally that began in March 2009. We're in the second leg of the multi-year bear market that began in October 2007 targeting 8,500 before 11,500.
Source: Thomson / Reuters
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10-Year Note -- (3.003) This yield is ending July trading around my annual pivot at 2.999. Semiannual and quarterly value levels are 3.479 and 3.486 with my annual pivot at 2.999, and weekly and annual risky levels at 2.875 and 2.813. Quarterly and semiannual risky levels are 2.495 and 2.249.
Source: Thomson / Reuters
Comex Gold -- ($1168.40) Quarterly and annual value levels are $1140.9 and $1115.2 with a daily pivot at $1172.3, and semiannual, weekly, semiannual, and monthly risky levels at $1218.7, $1222.3, $1260.8, and $1279.3. Note the importance of holding the 200-day simple moving average at $1146.5.
Source: Thomson / Reuters
Nymex Crude Oil -- ($78.26) My annual pivot is $77.05 with a weekly pivot at $77.89, and daily and monthly pivots at $79.50 and $79.36 and semiannual risky level at $83.94. My quarterly value level is $56.63.
Source: Thomson / Reuters
The Euro -- (1.3074) My weekly value level is 1.2797 with a daily pivot at 1.2962. Monthly and quarterly value levels are 1.2035 and 1.1424 with semiannual risky level at 1.4733.
Source: Thomson / Reuters
Daily Dow: (10,467) Weekly value level is 10,212 with my annual pivot at 10,379, my semiannual pivot at 10,558, and daily and monthly risky levels at 10,644 and 10,891. The 200-day simple moving average is 10,409. My quarterly value level is 7,812 with my annual risky level at 11,235, which was tested at the April 26 high at 11,258. This test marked the end of the bear market rally that began in March 2009. We're in the second leg of the multi-year bear market that began in October 2007 targeting 8,500 before 11,500.
Source: Thomson / Reuters
Buzz & Banter: 30 professional traders sharing their ideas in real-time. FREE 14 day trial.
No positions in stocks mentioned.
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