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May 9, 2011 – Weekl y “ Key Reversals” for Gold and Crude Oi l and t he Euro

A weekly key reversal occurs when a market sets a new high for the move and then ends the

week below the prior week’s low. Gold traded to an all time high at $1577.4 last Monday andended the week just below last week’s low at $1492.00. Crude oil tested a multi-year high at$114.83 last Monday and ended the week well below last week’s low at $110.71. The euro tradedto a new high for the move at 1.4941 on Wednesday and ended the week below last week’s lowat 1.4496. The only equity average I track that had a weekly key reversal is the Russell 2000.

10-Year Note – (3.162) Weekly, Monthly, and annual value levels are 3.304, 3.757 and 3.796 with adaily pivot at 3.181, and annual, and semiannual risky levels at 2.690, 2.441, and 2.322.

Courtesy of Thomson / Reuters

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Comex Gold – ($1491.2) Semiannual and annual value levels are $1452.6 and $1356.5 withquarterly, weekly, daily and monthly risky levels at $1531.7, $1536.8, $1538.6 and $1589.3.

Courtesy of Thomson / Reuters

Nymex Crude Oil – ($97.78) A semiannual value level is $87.52 with annual pivots at $99.91 and$101.92 with daily, semiannual, weekly, monthly and quarterly risky levels at $102.99, $107.14,$112.45, $119.17 and $120.52.

Courtesy of Thomson / Reuters

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The Euro – (1.4350) My quarterly value level is 1.4308 with quarterly, daily, weekly and monthly riskylevels at 1.4624, 1.4721, 1.4857, and 1.5144.

Courtesy of Thomson / Reuters

Weekly Dow: (12,639) The weekly chart remains positive with overbought MOJO and weekly closeabove the five-week modified moving average at 12,423. My annual value level is 11,491 with weekly,monthly, quarterly and annual risky levels at 12,794, 13,663, 13,774 and 13,890.

Courtesy of Thomson / Reuters

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Tracking Comex Copper - (396.35) has been moving sideways to down since February 15 th andclosed below its 200-day simple moving at 398.40 for the first time since August 26, 2010. The

February 15

th

high was 464.95, right on my annual risky level for 2011. Annual and semiannual valuelevels are 386.09 and 360.56 and weekly risky level at 430.03. 

Courtesy of Thomson / Reuters

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.

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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