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Tracking Market Levels


The major equity averages are overbought on their daily charts.

10-Year Note -- Semiannual support is 3.675 with daily, monthly, and weekly resistances at 3.540, 3.477, and 3.470. Still richer than my semiannual pivot at 3.675 favoring risk aversion!

Source: Thomson / Reuters

Comex Gold --
Daily, quarterly, and annual supports are $1108.8, $1084.9, and $938.7 with weekly and annual pivots at $1114.7 and $1115.2, and semiannual and monthly resistances at $1139.7, $1186.5, and $1195.4. Strength on Tuesday was shy of my semiannual pivot at $1139.7.

Source: Thomson / Reuters

Nymex Crude Oil
-- Annual, weekly, and quarterly supports are $77.05, $74.39, and $67.22 with daily and monthly pivots at $79.81 and $80.05, and quarterly, annual, and semiannual resistances at $85.21, $97.29, and $97.50. My monthly pivot at $80.05 was a magnet again on Tuesday.

Source: Thomson / Reuters

The Euro -- Weekly support is 1.3439 with a daily pivot at 1.3543, and quarterly and monthly resistances at 1.4327 and 1.4504. The euro is stabilizing above 1.34.

Source: Thomson / Reuters

The Dollar versus Japanese Yen -- Weekly, monthly, quarterly, and annual supports are 87.53, 84.74, 82.69 ,and 80.22 with a daily pivot at 88.22 and semiannual resistance at 92.73.

Source: Thomson / Reuters

The British Pound -- Daily support is 1.4867 with a weekly pivot at 1.5325 and monthly resistance at 1.5663.

Source: Thomson / Reuters

The Major Equity Averages

Dow -- Daily and weekly supports are 10,341 and 10,157 with my annual pivot at 10,379. Quarterly support is 6,705 with annual, monthly, and semiannual resistances are 11,235, 11,461, 11,442, and 11,949.

S&P 500 -- Daily and weekly supports are 1110.3 and 1086.3. Annual and quarterly supports are 1014.2, 701.8, and 681.7 with annual, semiannual, and monthly resistances at 1179.0, 1194.6 and 1212.9.

NASDAQ -- Weekly support is 2176 with annual, daily, and semiannual pivots at 2250, 2257, and 2258. Annual and quarterly supports are 1659, 1440, and 1405 semiannual and monthly resistances at 2392 and 2430.

Dow Utilities -- Weekly support is 358.10 with a daily pivot at 372.67 and monthly resistance at 391.82. Quarterly support is 280.79 with annual and semiannual resistances at 456.73, 471.95, and 492.05.

Dow Transports -- Weekly support is 3983 with daily resistance at 4223. Quarterly supports are 3386 and 3225 with annual, semiannual, and monthly resistances at 4324, 4488, and 4513. Annual and semiannual resistances are 4955 and 5218.

Russell 2000 -- Weekly support is 617.75 with a daily pivot at 641.27. Quarterly support is 421.24 with semiannual, monthly, and annual resistances at 673.50, 682.85, 717.69, 723.54, and 748.99.

The SOX -- Weekly support is 313.87 with a daily pivot at 342.76 and semiannual resistance at 358.89. Semiannual, annual, and quarterly supports are 271.90, 259.45, 241.05, and 207.69 with monthly resistance at 379.97.

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