focusing on key moving averages and weekly mojo

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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.

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May 24, 2011 Focusing on key m oving averages and w eekl y MOJO

The 10-Year US Treasury yield remains above its 200-day simple moving average at 3.080. Gold

is holding above its 50-day simple moving average at $1472.5 and tested my quarterly pivot at$1523.7 overnight. Crude oil shows risk down to its 200-day simple moving average at $90.08given closes below my annual pivots at $99.91 and $101.92. The euro broke below its 50-daysimple moving average at 1.4340 on May 11th then failed there on a rebound last Friday. Allmajor averages are below their 50-day simple moving averages except the Dow Transportswith its 50-day at 5311. The Dow closed Monday just below its 50-day at 12,389.

10-Year Note (3.127) This yield is making its second attempt since May 18th to break below its 200-day simple moving average at 3.080. This weeks pivot is 3.170.

Courtesy of Thomson / Reuters


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Comex Gold ($1516.7) has held above its 50-day simple moving average at $1472.5. My quarterlypivot is $1523.7 the Troy ounce. This weeks risky level is $1566.6.


Nymex Crude Oil ($97.46) below my annual pivots at $99.91 and $101.92 indicates risk to the 200-day simple moving average at $90.08.



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The Euro (1.4050) broke below its 50-day simple moving average at 1.4340 on May 11th then failedthere on a rebound last Friday, May 20th. The 200-day simple moving average is 1.3671.


Daily Dow: (12,381) Daily closes below the 50-day simple moving average at 12,389 increases theodds that the weekly close will be below the five-week modified moving average at 12,468. WeeklyMOJO is still projected to be above 8.0 at 8.1 delaying a negative weekly chart. My annual value level

is 11,491 with a daily pivot at 12,428 and weekly risky level at 12,818.



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S&P 500 (1317.4) A close this week below the five-week modified moving average at 1332.5 shiftsthe weekly chart profile to negative. Daily closes below the 50-day simple moving average at 1326 is awarning with weekly MOJO at 7.6 (declining below 8.0). Todays risky level is 1324.0.

NASDAQ (2759) A close this week below the five-week modified moving average at 2803 shifts theweekly chart profile to negative. The NASDAQ gapped below its 50-day simple moving average at2780 with weekly MOJO declining to 7.5. Todays pivot is 2759.

NASDAQ 100 (NDX) (2317) A close this week below the five-week modified moving average at 235keeps the weekly chart profile negative. NDX gapped below its 50-day at 2336 with weekly MOJOdeclining to 7.4. Todays pivot is 2315.

Dow Transports (5382) A close this week below the five-week modified moving average at 5356shifts the weekly chart profile to negative. The Transports is above its 50-day at 5311 with weeklyMOJO declining to 7.7. Todays value level is 5356 with a weekly risky level at 5557.

Russell 2000 (829.06) A close this week below the five-week modified moving average at 834.24keeps the weekly chart profile negative. The small cap index gapped below its 50-day at 631.65 withweekly MOJO declining to 6.9. Todays pivot is 815.39.

The SOX (423.34) A close this week below the five-week modified moving average at 440.01 keepsthe weekly chart profile negative. The SOX is below its 50-day at 435.57 with weekly MOJO decliningto 4.8. Todays pivot is 426.43.

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 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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focusing on key moving averages and weekly mojo

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