My weekly view of the weekly charts

8/7/2019 My weekly view of the weekly charts

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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

and commentary can be found at http://www.valuengine.com/nl/mainnl

February 28 , 2011 My week ly v iew o f t he w eek ly char t s

All of the major equity averages remain overbought on their weekly charts except Dow

Transports. The Transports are is now negative with a weekly close at 5060 below the 5-weekmodified moving average at 5113, and with declining momentum, which is a 12x3x3 weeklyslow stochastic. Transports became under pressure and ended Friday down 0.9% year to datas fuel costs rose last week. This dynamic is a leading indication that my forecast for a DowIndustrial high at less than 12,600 can be confirmed in March.

10-Year Note (3.422) Weekly and annual value levels are 3.630 and 3.796 with a daily pivot at3.420, and annual risky level at 2.690. The rise in yield is still overdone with this yield back belowits 200-week simple moving average at 3.588.

Courtesy of Thomson / Reuters


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Comex Gold ($1409.0) Annual, quarterly and weekly value levels are $1356.5, $1331.3 and$1316.1 with daily, quarterly and semiannual risky levels at $1426.1, $1441.7 and $1452.6. The

weekly chart profile is positive for the second week in a row.


Nymex Crude Oil ($98.16) Monthly, weekly, and semiannual value levels are $91.83, $89.76, and$87.52, with daily and annual pivots at $99.18 and $99.91, and annual, semiannual and quarterly risky

levels are $101.92, $107.14 and $110.87. A flag pole formed last week from the weeks range of$89.77 to $103.41, now the flag will be built.



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The Euro (1.3750) My quarterly value level is 1.3227 with a weekly pivot at 1.3690 and daily riskylevel at 1.3864. The euro remains below its 200-week simple moving average at 1.3953.


Weekly Dow: (12,130) Weekly MOJO remains extremely overbought. The five-week modified movingaverage is 11,979 with the 200-week simple moving average at 10,894. My annual value level is11,491 with this weeks risky level at 12,461.



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ValuEngine Valuation Warning - A ValuEngine Valuation Warning occurs when more than 65% of allstocks in the ValuEngine universe are calculated to be overvalued. On February 18th 68.6% of all

stocks were overvalued, which was the highest of the year. Today 63.2% of all stocks areovervalued.

Key Levels for the Major Equity AveragesThe Dow Industrial Average (12,130) My annual value level is 11,491 with a daily pivot at

12,148, and weekly risky level at 12,461.The S&P 500 (1319.9) My quarterly value level is 1262.5 with a daily pivot at 1315.8 and

weekly risky level at 1352.9.The NASDAQ (2781) My daily value level is 2755 with weekly and quarterly risky levels are

2860 and 2853.The NASDAQ 100 (NDX) (2346) My daily value level is 2325 with weekly and quarterly risky

levels at 2436 and 2438.Dow Transports (5060) My quarterly value level is 4671 with a daily pivot at 5075, and weekly

and annual risky levels at 5150 and 5179.The Russell 2000 (821.95) My quarterly value level is 765.50 with a daily pivot at 813.64 and

weekly risky level at 826.33.The Philadelphia Semiconductor Index (SOX) (463.69) My daily value level is 455.60 with

my quarterly pivot at 465.93 and weekly risky level at 493.15.

Bank Failure Friday The FDIC one more community bank last Friday, but it was not publicly-traded 25 banks failed in 2008 140 banks failed in 2009 with a peak of 50 in the third quarter 157 banks failed in 2010 23 banks have failed year to date in 2011 345 banks have failed since the end of 2007I still predict 500 to 800 bank failures in total by the end of 2012 into 2013. The FDIC List of Problem Banks rose by 24 to 884 from 860, which is 11.5% of the 7,657

FDIC-insured financial institutions. Fridays closure had extreme overexposures to C&D and CRE loans that were 86.2% funded.

Richard SuttmeierChief Market StrategistValuEngine.com, (800) 381-5576

Send your comments and questions to [email protected]. For more information on our products and services visitwww.ValuEngine.comAs 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 goHERE to review sample issues andfind out more about my research.

I Hold No Positions in the Stocks I Cover.

My weekly view of the weekly charts

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