the short term bounce straddles key technical levels

8/6/2019 The short term bounce straddles key technical levels.

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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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June 29, 2011 The shor t te r m bounce s t r add les key techn ic a l leve ls .

The NASDAQ, NASDAQ 100 (NDX), Dow Transports and Russell 2000 trade above their five-

week modified moving averages at 2716, 2277, 5250 and 809.47. Higher closes on Friday shiftthese weekly charts to neutral from negative and sets a wider trading range for the beginningof July. The Dow Industrial Average and S&P 500 are below their five-week modified movingaverages at 12,193 and 1299.1. The SOX is well below its five-week MMA at 414.96.

10-Year Note (3.040) The 200-day simple moving average is 3.125 with a daily pivot at 2.995, andweekly risky level at 2.755.

Courtesy of Thomson / Reuters


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Comex Gold ($1501.0) Weekly and semiannual value levels are $1471.6 and $1452.6 with dailyand quarterly pivots at $1514.6 and $1523.7, and monthly risky level at $1574.3. The daily chart isnegative and gold is below its 50-day SMA at $1519.2.


Nymex Crude Oil ($92.88) Daily, semiannual and weekly value levels are $90.32, $87.52 and$80.26 with the 200-day SMA at $92.85 and annual pivots at $99.91 and $101.92. The long term up

trend is the 200-week SMA now at $83.47. Above the 200-day this morning.



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The Euro (1.4361) My weekly value level is 1.3744 with monthly and quarterly pivots at 1.4258 and1.4308, and daily and semiannual risky levels at 1.4426 and 1.4624. The 200-week SMA is 1.4014

with the 50-day SMA at 1.4402. The 50-day was tested this morning.


Daily Dow: (12,189) The 200-day simple moving average is 11,793 with weekly and annual valuelevels are 11,671 and 11,491 and daily risky level at 12,214, and the five-week modified movingaverage at 12,193.



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S&P 500 (1296.7) My weekly value level is 1241.3 with the 200-day simple moving average at1265.2 with a daily risky level at 1300.8 and the 5-week modified moving average at 1299.1. The 5-

month MMA is 1276.4.NASDAQ (2729) My weekly value level is 2583 with the 200-day simple moving average is 2656, adaily pivot at 2729, and the 5-week and 5-month modified moving averages are 2716 and 2675.

NASDAQ 100 (NDX) (2286) My weekly value level is 2172 with the 200-day simple moving averageis 2239 and a daily pivot at 2285, and the 5-week and 5-month modified moving averages are 2277and 2244.

Dow Transports (5332) My weekly value level is 5058 with my annual pivot at 5179 and daily riskylevel at 5426. The 200-day simple moving average is 5071, and the 50-day SMA at 5324. The 5-weekand 5-month modified moving averages are 5250 and 5090.

Russell 2000 (817.31) My weekly value level is 756.79 with the 200-day simple moving average at778.79, my annual pivot at 784.16, and a daily risky level at 822.17. The 50-day SMA is 821.24. The 5week and 5-month modified moving averages are 809.47 and 790.71.

The SOX (400.52) Daily and weekly value levels are 398.05 and 382.62 with the 200-day simplemoving average at 412.34. The 5-week and 5-month modified moving averages are 414.96 and418.78.

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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the short term bounce straddles key technical levels

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