Weekly charts are negative and not yet oversold

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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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September 12, 2011 – Weekl y char ts ar e negat i ve and not yet oversold

Stocks remain considerably undervalued fundamentally but the weekly charts remain negative

technically on weekly closes below the five-week modified moving averages at; 11,471 DowIndustrials, 1204.6 S&P 500, 2548 NASDAQ, 2204 NASDAQ 100 (NDX), 4675 Dow Transports,718.90 Russell 2000 and 360.36 on the Philadelphia Semiconductor Index (SOX). The monthlycharts shift to negative on closes in Sept below the five-month modified moving averages at;11,954 Dow Industrials, 1273.5 SPX, 2683 NASDAQ, 2273 NDX, 5066 Transports, 784.22 Russell2000, and 400.23 SOX. As you can guess the odds of a bearish monthly chart are quite high.Stocks should remain considerably undervalued given a record low 30-Year bond yield.

10-Year Note – (1.917) Semiannual, annual, monthly and quarterly value levels are 2.414, 2.690,2.715 and 3.053 with daily, weekly and semiannual risky levels at 1.810, 1.687 and 1.672. This yield reached a record low of 1.877 this morning.

Courtesy of Thomson / Reuters



Comex Gold – ($1858.8) Monthly, quarterly and semiannual value levels are $1702.3, $1655.8 and$1644.8 with daily and weekly risky levels at $1912.8 and $1940.3. Gold set a new all time high at

$1923.7 last week.


Nymex Crude Oil – ($87.28) My weekly value level at $79.87 with a daily pivot at $88.67, my annualpivots at $99.91 and $101.92 and quarterly, semiannual and monthly risky levels at $102.40, $103.92and $104.23. The 200-week simple moving average held at $83.81.




The Euro – (1.3662) My daily pivot is 1.3617 with my quarterly pivot at 1.3728, and weekly,semiannual and monthly risky levels at 1.4223, 1.4752 and 1.4872. Note the break of the 200-week

simple moving average at 1.4020.


Weekly Dow: (10,992) My weekly value level is 10,379 with the 200-week and 120-month simplemoving averages at 10,695 and 10,593, a daily pivot at 11,070, my annual pivot at 11,491, andmonthly risky level at 12,779. Semiannual value levels are 9,635 and 8,468 with the 50-day and 200-

day SMA death cross at 11,815 and 11.997.




S&P 500 – (1154.2) Weekly and Semiannual value levels are 1083.5, 981.3 and 855.7 with a dailypivot at 1160.7, my annual pivot at 1210.7 and monthly risky level at 1342.1.

NASDAQ – (2468) Annual, weekly, and semiannual value levels are 2335, 2298, 2199 and 2049 witha daily pivot at 2476 and monthly risky level at 2827.

NASDAQ 100 (NDX) – (2163) Weekly, semiannual and annual value levels are 2058, 1951, 1861 and1723 with a daily pivot at 2176, and monthly risky level at 2431.

Dow Transports – (4369) Weekly, and semiannual value levels are 3945 and 3868 with mysemiannual pivot at 4335, a daily pivot at 4386, and annual and monthly risky levels at 5179 and 5190

Russell 2000 – (673.96) Weekly and semiannual value levels are 599.17, 577.47 and 530.04 with adaily pivot at 670.98, and annual and monthly risky levels at 784.16 and 825.19.

The SOX – (348.40) Weekly, annual and semiannual value levels are 323.64, 270.98, 258.97 and204.67 with a daily pivot at 341.03, and monthly risky level at 418.07.

Equity Fundamentals – Stocks are undervalued.• 87.3% of all stocks are undervalued / 12.7% of all stocks are overvalued. In March 2009, 91.1%

of all stocks were undervalued.• All sixteen sectors are undervalued, fifteen by double-digit percentages, thirteen by 20.2% to

28.0%. Back in March 2009 the sectors were undervalued by 33% to 45%. – Check out andsubscribe 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:

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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 what’s 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

• 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 to



the 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 price strength. 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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Weekly charts are negative and not yet oversold