Daily Charts are no longer overbought watch 200-day SMAs

8/3/2019 Daily Charts are no longer overbought watch 200-day SMAs

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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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November 3, 2011 Dai ly Chart s are no longer overbought w atc h 200-day SMAs

Daily MOJO (12x3x3 daily slow stochastic readings) are declining with the major equity

averages below their 200-day simple moving averages at; 11,973 Dow Industrials, 1273.5 SPX,2690 NASDAQ, 5019 Dow Transports and 777.99 Russell 2000. Major supports are the 50-daysimple moving averages at; 11,370 Dow Industrials, 1192.3 SPX, 2557 NASDAQ, 4537 DowTransports, and 693.48 Russell 2000. The yield on the 10-Year US Treasury has tested mymonthly pivot at 1.963. Gold remains influenced by my quarterly pivot at $1738.4. Crude oil isabove its 200-week SMA at $83.51 but below its 200-day SMA at $94.81. The euro versus thedollar remains the wild card with my quarterly value level at 1.2598 and monthly risky level at1.4568. The percentage of stocks undervalued remains between 69.1% and 93.5% at 79.4%.

10-Year Note (1.991) Daily, weekly, semiannual, quarterly and annual value levels are 2.091, 2.1912.414, 2.669 and 2.690 with a monthly pivot at 1.963 and semiannual risky level at 1.672. My monthlpivot was tested on Tuesday and 1.672 was tested on September 23rd.

Courtesy of Thomson / Reuters


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Comex Gold ($1736.5) Semiannual, weekly, semiannual and annual value levels are $1644.8,$1537.5, $1469.9 and $1,356.5 with my quarterly pivot at $1738.4 and daily and monthly risky levelsat $1800.3 and $1821.50, and the September 6 th all time high at $1923.7. The years low was $1535.0

set on September 26th

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Nymex Crude Oil ($92.40) The October 4th year-to-date low is $74.95 with my weekly value level at$86.38, monthly and daily pivots at $95.67 and $97.04, and quarterly and annual risky levels at

$100.34, $99.91 and $101.92. The high and low for oil happened on the same days as the Dow withthe high at $114.83 per barrel on May 2nd.



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The Euro (1.3725) Weekly, and quarterly value levels are 1.3319 and 1.2598 with daily, monthly andsemiannual risky levels at 1.3901, 1.4568, 1.4752 and 1.4872.


Daily Dow: (11,836) My annual value level is 11,491 with weekly and monthly pivots at 11,694 and11,928, and daily, quarterly and annual risky levels at 12,017, 12,507 and 13,890. The October 4th lowwas 10,404.49 with the May 2nd high at 12,876.00.



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S&P 500 (1237.9) The October 4th YTD low is 1074.77 with my annual pivot at 1210.7, monthly andweekly pivots at 1229.3 and 1231.9, and daily, quarterly and annual risky levels at 1260.0, 1303.7 and

1562.9. The YTD high is 1370.58. My annual risky level is 1562.9.NASDAQ (2640) The October 4th YTD low is 2298.89 with my annual value level at 2335, monthlyand weekly pivots at 2636 and 2686, and daily and quarterly risky levels at 2704 and 2807, and theYTD high at 2887.75. My annual risky level is 3243.

NASDAQ 100 (NDX) (2318) - The YTD low is 2034.92 with a monthly value level at 2294, and dailyweekly, and quarterly risky levels at 2364, 2394 and 2440, the YTD high at 2437.42 and annual riskylevel at 2590.

Dow Transports (4827) The October 4th YTD low is 3950.66 with weekly and semiannual valuelevels at 4739, 4335 and 3868, and daily, monthly, annual and quarterly risky levels at 4932, 5034,5179 and 5359, and the YTD high / all time high at 5627.85 on July 7 th.

Russell 2000 (733.25) The October 4th YTD low is 601.71 with weekly and monthly pivots at 713.93and 739.80, and daily, annual and quarterly risky levels at 759.72, 784.16 and 802.96, and the YTDhigh / all time high at 868.57 on May 2nd.

The SOX (375.88) The October 4th YTD low is 322.24 with a monthly value level at 339.47, anddaily, weekly and quarterly risky levels at 393.65, 398.86 and 417.63, and the YTD high at 450.79.

Equity Fundamentals Stocks are extremely undervalued. 79.4% of all stocks are undervalued / 20.6% of all stocks are overvalued. On October 4 th 93.5%

of all stocks were undervalued. All sixteen sectors are undervalued, fifteen by double-digit percentages. Three are undervalued

by 21.0% to 23.1%. Back in March 2009 the sectors were undervalued by 33% to 45%. Check out and subscribe to www.ValuEngine.com.

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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


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Value Level The price at which you establish an additional long position on share priceweakness. 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 Suttmeier

Chief Market StrategistValuEngine.com(800) 381-5576

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As Chief Market Strategist at ValuEngine Inc, my research is published regularly on the website www.ValuEngine.com. I have daily, weekly, monthly, andquarterly newsletters available that track a variety of equity and other data parameters as well as my most up-to-date analysis of world markets. Mynewest products include a weekly ETF newsletter as well as the ValuTrader Model Portfolio newsletter. You can go tohttp://www.valuengine.com/nl/mainnl to review sample issues and find out more about my research.

I Hold No Positions in the Stocks I Cover.

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Daily Charts are no longer overbought watch 200-day SMAs