the dow has a potential “key reversal” on thursday

8/8/2019 The Dow has a potential key reversal on Thursday

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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 HERE.

Oct ober 1, 2010 The Dow has a potent ia l key reversal on Thur sday

Any further decline in the 10-Year yield should be limited to quarterly and semiannual risky

levels at 2.265 and 2.249. Gold should peak at or below my monthly risky level at $1343.7, but aweekly close below my new quarterly pivot at $1306.4 is an early warning of a top. As long asCrude oil has weekly closes above my annual pivot at $77.05 the upside is to my semiannualand monthly risky levels at $83.94 and $84.74. The euro continues its upward MOJO withweekly closes above my new quarterly value level at 1.3318. The Dow will peak between mynew monthly pivot at 10,857 and my annual risky level at 11,235 by Election Day. Thursdayshigh was 10,948.88. My new quarterly value level is 8,523, so I will re-iterate my longer termcall, Dow 8,500 Before Dow 11,500!

10-Year Note (2.517) Annual and annual value levels are 2.813 and 2.999 with monthly and weeklypivots at 2.555 and 2.477, and daily, quarterly and semiannual risky levels at 2.369, 2.265 and 2.249.

Courtesy of Thomson / Reuters


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Comex Gold ($1309.3) Semiannual and annual value levels are $1260.8, $1218.7 and $1115.2 witha quarterly pivot at $1306.4, and weekly, daily and monthly risky levels at $1320.4, $1323.3 and

$1343.7.


Nymex Crude Oil ($79.89) Annual and weekly value levels are $77.05 and $72.93 with a daily pivot

at $78.95 and semiannual and monthly risky levels at $83.94 and $84.74.



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The Euro (1.3636) Quarterly and weekly value levels are 1.3318 and 1.2986 with a daily risky levelat 1.3908. My monthly value level is 1.2342 with semiannual risky level at 1.4733.


Daily Dow: (10,788) Semiannual, weekly, annual and quarterly value levels are 10,558, 10,547,10,379 and 8,523 with daily, monthly and annual risky levels at 10,825, 10,857 and 11,235. My annuarisky level at 11,235 was tested at the April 26thhigh of 11,258.01. The Dow remains overbough

with a negative divergence and had a key reversal on Thursday.



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US Capital Markets were close to a Key Reversals for Several Markets

After the best September performance for stocks since 1939, the month nearly ended the month withkey reversals for gold, the euro and the major equity averages. Only the Dow Industrial Averagehad the key reversal.

Gold reached a new all time high on September 30th at $1317.5 and a close belowWednesdays low of $1306.1 would have been a key reversal day.

The euro reached a new high for the move at 1.3681 and a close below 1.3569 would havebeen a key reversal.

The Dow tested 10,948.88, then traded below Wednesdays low of 10,798, and closedbelow that level, which is a key reversal day. Lower closes Friday and Monday confirm anear term top to alleviate the overbought condition.

The SPX tested 1157.16, then traded below Wednesdays low of 1140, but closed above that

level. The NASDAQ tested 2400.96, then traded below Wednesdays low of 2366, but closed above

that level. The Russell 2000 tested 684.59, then traded below Wednesdays low of 672.25, but closed

above that level. The SOX tested 356.22, then traded below Wednesdays low of 347.49, but closed above that

level. Dow Transports was not at risk of a key reversal following a high of 4614 as Wednesdays low

of 4497 was not tested.

Thats todays Four in Four. Have a great day.

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

Send your comments and questions to [email protected]. For more information on our productsand services visit www.ValuEngine.com

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

ValuTrader Model Portfolio newsletter. You can go HERE to review sample issues and find out more about my research.

I Hold No Positions in the Stocks I Cover.

the dow has a potential “key reversal” on thursday

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