7/31/2019 The Yield on the 10-Year US Treasury sets a record low at 1.610 percent.

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May 31, 2012 The Yie ld on the 10-Year US Treasur y sets a recor d low at 1 .610 perc ent .

The Key Levels for the US Capi ta l Mar kets

10-Year Note (1.619) Daily and semiannual value levels are 1.736 and 1.903 with weekly, quarterly andsemiannual risky levels at 1.556, 1.407 and 1.385. This yield hit an all time low at 1.610 on Wednesday.

Comex Gold ($1563.5) My daily, weekly and annual pivots are $1566.0, $1565.0 and $1575.8 withsemiannual risky levels at $1635.8 and $1659.4. The 50-day and 200-day simple moving averages are $1627.2and $1690.6. Gold held the $1535 to $1525 area for the third time since May 16th.

Nymex Crude Oil ($87.44) My semiannual value level is $79.83 with daily and weekly pivots at $88.30 and$92.64 and quarterly, annual and semiannual risky levels at $101.55, $103.58 and $104.84 and $108.53. Crudoil is below its 200-day SMA at $96.47.

The Euro (1.2363) Daily and weekly pivots are 1.2454 and 1.2526 with semiannual and quarterly risky levelsat 1.2980 and 1.3366.

The daily charts for the major equity averages moved to neutral from positive on Wednesday within

the framework of negative weekly charts. My annual value level for the Dow Industrials is 12,312 withmy quarterly pivots at 12,794 Dow Industrials, 1337.7 S&P 500 and 2911 NASDAQ. To negate thelonger term sell signals the S&P 500 would have to have a weekly close above my annual pivot at1363.2. A weekly close below 12,312 on the Dow Industrials indicates risk to my NASDAQ annualvalue level at 2698.

Daily Dow:(12,581) My annual value level at 12,312 was tested and held on May 23rd. My weeklypivot was a magnet at 12,411 yesterday. Daily and quarterly risky levels are 12,508 and 12,794. Th200-day simple moving average is 12,246.

S&P 500 (1313.3) My weekly value level is 1303.4 with daily, quarterly and annual risky levels at1327.2, 1337.7 and 1363.2. Weekly closes below 1363.2 provided the signal for the downside to

12,312 on the Dow.Dow Transports (5030) My semiannual value level is 4407 with my weekly pivot at 5055, and dailyand quarterly risky levels at 5137 and 5420. The all time high was set at 5627.85 on July 11, 2011.

Dow Transports (5139) Weekly, daily and semiannual value levels are 5055, 4978 and 4407 withmonthly and quarterly risky levels at 5385 and 5420. The all time high; 5627.85 set on July 11, 2011.

Russell 2000 (762.00) My weekly value level is 748.79 with daily, quarterly and annual risky levelsat 772.51, 829.34 and 836.88. The all time high was set at 868.57 on May 2, 2011.VE Morning Briefing If you want expanded analysis of the US Capital Markets go to this link and sign up: http://www.valuengine.com/nl/mainnl?nl=D