like last week, the russell 2000 could not stay above 836.15

8/2/2019 Like last week, the Russell 2000 could not stay above 836.15.

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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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March 29, 2012 L ike last w eek, the Russel l 2000 could not s tay above 836.15.

If the Russell 2000 ends the week, month and quarter below my annual pivot at 836.15 we risk

the formation of a Bernanke Double-Top. If Dow Transports end the week, month and quarterbelow its five-week modified moving average at 5212 it would result in a negative weekly chartprofile. Why is this important? Dow Transports and Russell 2000 have lagged 2011 all timehighs at 5627.85 set on July 7th and 868.57 set on May 2nd. The initial downside risk is to myannual pivot at 1363.2 on the S&P 500. My weekly risky levels remain at; 13,315 DowIndustrials, 1428.9 SPX, 3157 NASDAQ and 847.77 Russell 2000, which was tested at TuesdaysBernanke high. The yield on the 10-Year US Treasury remains on the cusp of its 200-day simplemoving average at 2.188. Gold is back below its 200-day SMA at 1684.8 with the 50-day at$1708.3. Crude oil continues to trade between my annual pivot at $103.58 and this weeks riskylevel at $110.42. The euro versus the dollar remains above this weeks pivot at 1.3201.

10-Year Note (2.200) Daily, weekly and annual value levels are 2.230, 2.248 and 2.502 withsemiannual and quarterly risky levels at 1.903 and 1.687.

Courtesy of Thomson / Reuters


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Comex Gold ($1662.4) My annual value level is $1575.8 with daily, weekly and semiannual pivots a$1665.2, $1675.7, $1659.5 and $1635.8, and quarterly and monthly risky levels at $1740.9 and

$1888.4.


Nymex Crude Oil ($105.53) Annual, quarterly, monthly and semiannual value levels are $103.58,$99.87, $97.96 and $79.83 with semiannual and daily pivots at $104.84 and $105.61, and weekly and

annual risky levels at $110.42 and $117.00.



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The Euro (1.3317) Weekly, semiannual, monthly, and quarterly value levels are 1.3201, 1.2980,1.2622, and 1.2499 with daily, annual and semiannual risky levels at 1.3376, 1.4239 and 1.4405.


Daily Dow: (13,126) Daily, quarterly, annual, monthly and semiannual value levels are 13,068, 12,47812,312, 11,903, 8,425 and 8,336 with weekly and annual risky levels at 13,315 and 14,032.



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S&P 500 (1405.5) Annual, quarterly, monthly and semiannual value levels are 1363.2, 1305.4,1222.5, 841.7 and 829.9 with a daily pivot at 1406.5, and weekly and annual risky levels at 1428.9 and

1562.9.NASDAQ (3105) Quarterly, annual, monthly and semiannual value levels are 2777, 2698, 2651,2012 and 1952 with daily, weekly and annual risky levels at 3125, 3157 and 3232.

NASDAQ 100 (NDX) (2771) Annual, monthly, quarterly, annual and semiannual value levels are2603, 2428, 2422, 2300, 1851 and 1743 with daily and weekly risky levels at 2792 and 2810.

Dow Transports (5258) Daily, weekly, monthly and semiannual value levels are 5204, 5124, 4470,4407 and 3778 with quarterly, and annual risky levels at 5448, 5861 and 6111. The all time high wasset at 5627.85 on July 11, 2011. A weekly close below its five-week modified moving average at5212 shifts the weekly chart to negative.

Russell 2000 (834.45) Monthly and semiannual value levels are 684.13, 572.90 and 510.81 withdaily, quarterly and annual pivots at 837.22, 829.03 and 836.15, and weekly risky level at 847.77. Theall time high was set at 868.57 on May 2, 2011.

The SOX (436.10) Quarterly, monthly, annual and semiannual value levels are 390.17, 323.52,269.80, 277.90 and 194.47 with daily and weekly pivots at 439.55 and 443.09, and annual risky levelat 520.61. The 2011 high is 474.33 set on February 18, 2011.

ValuEngine Valuation Model: 50.8% of all stocks are undervalued / 49.2% of all stocks are overvalued. Back on October 4th

93.5% of all stocks were undervalued. Fourteen of sixteen sectors are overvalued; four by double-digit percentages. Finance is 15.8%

OV. Computers & Technology is 19.7% OV. Retail-Wholesale is 17.0% OV. Back in March 2009all sectors were undervalued by 33% to 45%.

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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.

Buy and Trade Strategies for Long Positions Value Level The price at which you establish an additional long position on share price

weakness. This is done on a GTC Limit Order to buy weakness to the Value Level. Risky Level The price at which you remove a single long position or reduce a multiple

long position on share price strength. This is done on a GTC Limit Order to sell strength tothe Risky Level.

Buy and Trade Strategies for Short Positions Value Level The price at which you remove a single short position or reduce a multiple

short position on share price weakness. This is done on a GTC Limit Order to buy weaknesto the Value Level.

Risky Level The price at which you establish an addition short position on share pricestrength. This is done on a GTC Limit Order to sell strength to the Risky Level.

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.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 go tohttp://www.valuengine.com/nl/mainnl to review sample issues and find out more about my research.

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like last week, the russell 2000 could not stay above 836.15

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