Stocks are fundamentally neutral and technically mixed.

8/6/2019 Stocks are fundamentally neutral and technically mixed.

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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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Ju ly 20, 2011 Stoc ks are fundamenta l ly neut ra l and techn ic a l ly mix ed.

Recently ValuEngine has been presenting a Fairly Valued or neutral picture fundamentally

with Sector Valuations between 5.3% overvalued and 7.0% undervalued. Technically the Dow isoverbought on its monthly chart, positive on its weekly chart and neutral on its daily chart. Thisbackdrop favors continued day to day volatility within trading ranges that depend upon weeklycloses above or below the five-week modified moving average which stands at 12,372 for theDow Industrial Average. Weekly closes above the five-week MMA indicates potential to mymonthly risky level at 13,155. Weekly closes below indicate risk to my annual value level at11,491. The yield on the 10-Year note seems range-bound between my quarterly pivot at 3.052and weekly risky level at 2.819. Gold has been setting new all time highs almost daily with mysemiannual risky level is $1644.8 the Troy ounce. Beware however that Tuesdays trade was akey reversal A new all time high at $1610.7 and a close was below Mondays low. Crude oiltrades between a weekly value level at $93.34 and my annual pivots at $99.91 and $101.92. The

euro versus the dollar tracks around a monthly pivot at 1.4133.10-Year Note (2.917) My quarterly value level is 3.052 with my weekly risky level at 2.819.

Courtesy of Thomson / Reuters


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Comex Gold ($1586.5) Set a new all time high at $1610.7 on Tuesday then closed below Mondayslow at $1591.4, which is a key reversal day. Weekly and monthly value levels are $1568.5 and

$1547.9 with daily, semiannual and quarterly risky levels at $1626.8, $1644.8 and $1655.8.


Nymex Crude Oil ($97.64) The 200-day simple moving average is $94.26 with the 50-day at$97.52. My daily and weekly value levels are $94.90 and $93.34 with my annual pivots at $99.91 and

$101.92, and quarterly and semiannual risky levels at $102.40 and $103.92.



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The Euro (1.4142) The 200-day simple moving average is 1.3913 with the 50-day at 1.4300.Daily and quarterly value levels are 1.3885, and 1.3728 with a monthly pivot at 1.4133 and weekly and

semiannual risky levels at 1.4478, 1.4553, 1.4752 and 1.4872.


Daily Dow: (12,385) My daily, weekly and annual value levels are 12,298, 12,084 and 11,491 withmonthly, quarterly and annual risky levels at 13,155, 13,839 and 13,890.



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S&P 500 (1326.7) Daily, weekly, annual and semiannual value levels are 1286.5, 1279.6, 1210.7,981.3 and 855.7 with monthly, quarterly and annual risky levels at 1422.8, 1467.0 and 1562.9.

NASDAQ (2827) Daily, weekly, annual and semiannual value levels are 2730, 2686, 2335, 2199 and2049 with monthly, quarterly and annual risky levels at 2975, 3109 and 3243.

NASDAQ 100 (NDX) (2398) Daily, weekly, semiannual and annual value levels are 2317, 2257,1951, 1861 and 1723 with monthly, annual and quarterly risky levels at 2483, 2590 and 2630.

Dow Transports (5347) Daily, weekly, annual and semiannual value levels are 5153, 5183, 5179,4335 with monthly, quarterly and annual risky levels at 5394, 5736, 6112 and 6131.

Russell 2000 (834.62) Daily, weekly, annual and semiannual value levels are 806.37, 805.08,784.16, 577.47 and 530.04 with monthly, quarterly and annual risky levels at 820.33, 924.95, 930.83and 978.58.

The SOX (397.41) Daily, weekly, annual and semiannual value levels are 372.19, 378.14, 270.98,258.97 and 204.67 with monthly, quarterly and annual risky levels at 482.54, 493.22 and 531.14.

Equity Fundamentals Fairly Valued 54.2% of all stocks are undervalued / 45.8% of all stocks are overvalued Eight sectors are undervalued Construction by 7.0% Eight sectors are overvalued Transportation and Utilities by 5.3% P/E Ratios Range from 21.9 times for Aerospace to 58.5 times for Oils-Energy.

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

is overbought and below 2.0 is oversold.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.comI have daily, weekly, monthly, and quarterly newsletters available that track a variety of equity and other data parameters awell as my most up-to-date analysis of world markets. My newest products include a weekly ETF newsletter as well as the

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I Hold No Positions in the Stocks I Cover.

Stocks are fundamentally neutral and technically mixed.

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