Without a Weekly Sell Signal Stocks Should Reach New YTD Highs

8/6/2019 Without a Weekly Sell Signal Stocks Should Reach New YTD Highs

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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.

A variety of newsletters and portfolios containing Suttmeier's detailed research, stock picks

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June 1, 2011 Without a Weekl y Sel l Signal Stoc ks Should Reach New YTD Highs

The yield on the 10-Year US Treasury is below its 200-day simple moving average at 3.090,

which is a sign of a flight to quality out of riskier assets, yet stocks can still challenge new yearto date highs. Comex gold and Nymex crude oil begin June in trading ranges set in May. Goldis consolidating the decline from the all time high of $1577.4 the Troy ounce on May 2 nd to$1462.5 set on May 5th as my quarterly pivot at $1523.7 remains a magnet. Crude oil fell belowits 50-day simple moving average at $105.47 on May 5 th and tested $94.63 on May 6th as myannual pivots remain magnets at $99.91 and $101.92. The euro stays firm helping stocks givenweekly closes above my quarterly and monthly pivots at 1.4308 and 1.4258. Unless thereweekly closes below five-week modified moving averages for the major equity averages thereis upside to new monthly risky levels. The Dow Industrial Average still faces my weekly riskylevel at 12,661 first. A weekly close below the five-week modified moving average at 12,468ends the rally.

10-Year Note (3.052) The 200-day simple moving average at 3.090 with my weekly pivot at 3.066,and daily risky level at 3.032.

Courtesy of Thomson / Reuters


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Comex Gold ($1535.9) My quarterly pivot is $1523.7 with daily, monthly and weekly risky levels at$1550.8, $1574.3 and $1594.5.


Nymex Crude Oil ($102.59) My annual pivots at $99.91 and $101.92, with daily and weekly pivots

at $100.90 and $102.31, and semiannual and monthly risky levels at $107.14 and $113.61.



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The Euro (1.4388) Monthly and daily value levels are 1.4258 and 1.4175 with my quarterly pivot at1.4308, and weekly and semiannual risky levels at 1.4534 and 1.4624.


Daily Dow: (12,570)Daily and annual value levels are 12,381 and 11,491 with weekly, monthly,quarterly and annual risky levels at 12,661, 13,232, 13,774 and 13,890.



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S&P 500 (1345.2) My daily value level is 1321.1 with a weekly pivot at 1339.2 and monthly riskylevel at 1439.8. A weekly close below the five-week modified moving average at 1332.2 ends the rally

NASDAQ (2835) My daily value level is 2772 with a weekly pivot at 2831 and monthly risky level at3068. A weekly close below the five-week modified moving average at 2802 ends the rally.

NASDAQ 100 (NDX) (2373) My daily value level is 2317 with a weekly pivot at 2367 and monthlyrisky level at 2575. A weekly close below the five-week modified moving average at 2351 ends therally.

Dow Transports (5470) My daily, weekly and annual value levels are 5424, 5394 and 5179 withmonthly risky level at 5829. A weekly close below the five-week modified moving average at 5366ends the rally.

Russell 2000 (848.30) Daily, weekly and annual value levels are 827.26, 832.65 and 784.16 with

monthly risky level at 929.22. A weekly close below the five-week modified moving average at 834.65ends the rally.

The SOX (439.60) My daily value level is 423.46 with weekly, quarterly and monthly risky levels at445.06, 498.75 and 504.06. A weekly close below the five-week modified moving average at 438.74ends the rally.

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.

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.comI have daily, weekly, monthly, and quarterly newsletters available that track a variety of equity and other data parameters a

well as my most up-to-date analysis of world markets. My newest products include a weekly ETF newsletter as well as theValuTrader Model Portfolio newsletter. You can go to http://www.valuengine.com/nl/mainnl to review sample issuesand find out more about my research.

I Hold No Positions in the Stocks I Cover.

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Without a Weekly Sell Signal Stocks Should Reach New YTD Highs