Daily Charts – Oversold but 200-day Simple Moving Averages Loom

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In a “new economy” semiconductors are supposed to lead, but that leadership is to the downside with the Philadelphia Sem...

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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. ValuEngine covers over 7,000 stocks every day. A variety of newsletters and portfolios containing Suttmeier's detailed research, stock picks, and commentary can be found http://www.valuengine.com/nl/mainnl To unsubscribe from this free email newsletter list, please click

http://www.valuengine.com/pub/Unsubscribe? June 14, 2011 – Daily Charts – Oversold but 200-day Simple Moving Averages Loom In a “new economy” semiconductors are supposed to lead, but that leadership is to the downside with the Philadelphia Semiconductor Index (SOX) below its 200-day simple moving average at 408.13. The other important 200-day simple moving averages are; 11,689 Dow Industrial Average, 1254.6 S&P 500, 2631 NASDAQ, 2218 NASDAQ 100 (NDX), 5020 Dow Transports, 769.57 Russell 2000. The NASDAQ and NDX tested their 200-day simple moving averages intra-day on Monday. 10-Year Note – (2.982) The 200-day simple moving average is 3.108 with a daily pivot at 3.035 and weekly risky level at 2.854.

Courtesy of Thomson / Reuters

Comex Gold – ($1516.5) The 50-day simple moving average is $1504.6 with my quarterly pivot at $1523.7 and daily and weekly risky levels at $1531.4 and $1558.5.

Courtesy of Thomson / Reuters

Nymex Crude Oil – ($97.04) The 200-day simple moving average at $91.82 with the 50-day at $104.56. My weekly value level is $95.52 with daily and annual pivots at $98.87, $99.91 and $101.92.

Courtesy of Thomson / Reuters

The Euro – (1.4405) My monthly value level is 1.4258 with quarterly and weekly pivots at 1.4308 and 1.4371, and daily and semiannual risky levels at 1.4696 and 1.4624.

Courtesy of Thomson / Reuters

Weekly Dow: (11,953) The 200-day simple moving average is 11,689 with a daily value level at 11,841 and weekly risky level at 12,449.

Courtesy of Thomson / Reuters

S&P 500 – (1271.8) The 200-day simple moving average is 1254.6 with a daily value level at 1256.0 and weekly risky level at 1321.5. NASDAQ – (2640) The 200-day simple moving average is 2631 with a daily value level at 2607 and weekly risky level at 2784. NASDAQ 100 (NDX) – (2222) The 200-day simple moving average is 2218 with a daily value level at 2197 and weekly risky level at 2351. Dow Transports – (5073) The 200-day simple moving average is 5020 with a daily value level at 4996, my annual pivot at 5179, and weekly risky level at 5351. Russell 2000 – (777.20) The 200-day simple moving average is 769.57 with a daily value level at 764.45, my annual pivot at 784.16, and weekly risky level at 812.22. The SOX – (399.08) My daily value level is 395.37 with the 200-day simple moving average at 408.13, and weekly risky level at 428.13. The SOX is the first major average I track to be below its 200day simple moving average. Definition of MOJO – This is my term for technical momentum. I use what’s called “12x3x3 slow stochastic readings” from daily, weekly and monthly charts. The scale is zero to 10.0 where above 8.0 is overbought and below 2.0 is oversold. Richard Suttmeier Chief Market Strategist ValuEngine.com (800) 381-5576 To unsubscribe from this free email newsletter list, please click http://www.valuengine.com/pub/Unsubscribe? Send your comments and questions to [email protected] For more information on our products and services visit www.ValuEngine.com As Chief Market Strategist at ValuEngine Inc, my research is published regularly on the website www.ValuEngine.com. I have daily, weekly, monthly, and quarterly newsletters available that track a variety of equity and other data parameters as well as my most up-to-date analysis of world markets. My newest products include a weekly ETF newsletter as well as the ValuTrader Model Portfolio newsletter. You can go to http://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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