My Market Call for October was on the Money!

8/3/2019 My Market Call for October was on the Money!

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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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Oct ober 28, 2011 My Mark et Cal l for Oct ober w as on the Money!

My theme at the October 4th low when the Dow Industrial Average tested 10,404.49 was that

with 93.5% of all stocks undervalued, we have seen the lows for the year for stocks. Thetechnical key was staying above the 200-week simple moving average. My Fearless Predictionof the Week has been consistent all month and heres what I published in my Morning Briefingon Monday: The Dow Industrial Average held its five-week modified moving average lastTuesday and the rally continued from there. The positive weekly chart confirms the October 4th

low at 10,404.49 as the low for 2011. The five-week modified moving average rises to 11,402with my annual pivot at 11,491 and monthly and quarterly risky levels at 12,091 and 12,507. Aclose on Halloween above the five-month modified moving average at 11,749 targets 12,507,which is below the May 2ndhigh at 12,876.00.I am not looking for new highs for the year! Withstocks moving higher along with the 30-Year bond yield equity valuations are not as favorable.We have gone from 93.5% of all stocks being undervalued to 69.3%.

10-Year Note (2.391) Semiannual, quarterly and annual value levels are 2.414, 2.669 and 2.690with daily and monthly pivots at 2.305 and 2.222, the 50-day simple moving average at 2.061, andweekly, and semiannual risky levels at 1.915 and 1.672, which was tested on September 23rd.

Courtesy of Thomson / Reuters


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Comex Gold ($1743.9) Daily, semiannual, weekly, semiannual and annual value levels are $1691.1$1644.8, $1606.4, $1469.9 and $1,356.5 with my quarterly pivot at $1738.4 and monthly risky level at

$1811.4, and the September 6

th

all time high at $1923.7. The 200-day simple moving average is$1553.8 with the 50-day at $1737.2.


Nymex Crude Oil ($93.83) The October 4th year-to-date low is $74.95 with my weekly value level at

$84.81, a daily pivot at $93.93, the 50-day at $85.62 with the 200-day at $94.78, and monthly,quarterly and annual risky levels at $98.51, $100.34, $99.91 and $101.92.



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The Euro (1.4184) Weekly, and quarterly value levels are 1.2966 and 1.2598 with a daily pivot at1.4111, and monthly and semiannual risky levels at 1.4579, 1.4752 and 1.4872. The 50-day simple

moving average is 1.3850 with the 200-day at 1.4098.


Daily Dow - (12,208) The October 4th YTD low is 10,404.49 with annual and weekly value levels at11,491 and 11,336, daily and monthly pivots at 12,234 and 12,091, and quarterly risky level at 12,507with the YTD high at 12,876.00. Semiannual value levels are 9,635 and 8,468. The 50-day is 11,291

with the 200-day at 11,970.



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S&P 500 (1284.6) The October 4th YTD low is 1074.77 with semiannual value levels at 981.3 and855.7, annual and weekly value levels at 1210.7 and 1194.0, the 200-day at 1274.2, daily, and monthl

pivots at 1284.3 and 1259.8, and quarterly and annual risky levels at 1303.7 and 1562.9. The YTDhigh is 1370.58.

NASDAQ (2739) The October 4th YTD low is 2298.89 with my annual value level at 2335,semiannual value levels at 2199 and 2049, daily, weekly and monthly pivots at 2710, 2607 and 2680,and quarterly risky level at 2807, and the YTD high at 2887.75. My annual risky level is 3243.

NASDAQ 100 (NDX) (2400) The YTD low is 2034.92 with semiannual and annual value levels at1951, 1861 and 1723, monthly, daily and weekly pivots at 2312, 2372 and 2334, and quarterly riskylevel at 2440, the YTD high at 2437.42 and annual risky level at 2590.

Dow Transports (5025) The October 4th YTD low is 3950.66 with weekly, semiannual value levels a4554, 4335 and 3868, and daily and monthly pivots at 5087 and 4980, and annual and quarterly riskylevels at 5179 and 5359, and the YTD high at 5627.85.

Russell 2000 (765.38) The October 4th YTD low is 601.71 with semiannual value levels at 577.47and 530.04, a weekly value level at 677.48, a daily pivot at 760.31, and monthly, annual and quarterlyrisky levels at 778.77, 784.16 and 802.96, and the YTD high at 868.57.

The SOX (395.74) The October 4th YTD low is 322.24 with annual and semiannual value levels at270.98, 258.97 and 204.67, daily, weekly and monthly pivots at 389.20, 379.60 and 363.01, andquarterly risky level at 417.63, and the YTD high at 450.79.

Equity Fundamentals Stocks are extremely undervalued. 69.3% of all stocks are undervalued / 30.7% of all stocks are overvalued. On October 4 th 93.5%

of all stocks were undervalued. Fifteen of sixteen sectors are undervalued, only ten by double-digit percentages. None are

undervalued by more than 20%. Back in March 2009 the sectors were undervalued by 33% to45%. Check out and subscribe to www.ValuEngine.com.

VE Morning Briefing If you want expanded analysis of the US Capital Markets including a FearlessPrediction of the Week and a Stock of the Day go to this link and sign up:http://www.valuengine.com/nl/mainnl?nl=D

ValuTrader Model Portfolio If you want to learn how to Buy and Trade use this link and sign up:http://www.valuengine.com/nl/mainnl?nl=V

ETF Weekly If you want my Value Levels and Risky Levels for 30 Electronically Traded Funds usethis link and sign up: http://www.valuengine.com/nl/mainnl?nl=U

ValuEngine FDIC Evaluation Report In this report I slice and dice the FDIC Quarterly BankingProfile. We publish a ValuEngine List of Problem Banks in this publication:http://www.valuengine.com/nl/mainnl?nl=C

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 8.0


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is 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 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 multipleshort 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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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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My Market Call for October was on the Money!