weekly closes above the five-week mmas are positive

8/3/2019 Weekly Closes above the Five-week MMAS are Positive.

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Oct 21, 2011 Weekl y Closes above the Five-w eek MMAS are Posi t ive.

The daily charts for the major equity averages remain overbought, and we need weekly closes

above the five-week modified moving averages to keep the weekly charts positive: 11,301 DowIndustrials, 1184.6 SPX, 2542 NASDAQ, 2236 NDX, 4515 Dow Transports, 690.28 Russell 2000and 362.43 SOX. We could have weekly closes straddling these levels which would be overallneutral. A weekly closes above 2.140 for the 10-Year US Treasury favors higher yields. Goldstays negative on its weekly chart with a close below $1700.4. Crude oil will likely have risingweekly MOJO with the key level being the 200-week SMA at $83.54. The euro versus the dollarwill also show rising weekly MOJO with its 200-week at 1.3991. Fundamentally stocks remaincheap with more than 80% of all stocks undervalued. My call remains that the October 4 th lowsare the lows for the year, but we will not see higher highs in 2011.

10-Year Note (2.159) Daily, semiannual, quarterly and annual value levels are 2.301, 2.414, 2.669and 2.690 with my monthly pivot at 2.222, and weekly, and semiannual risky levels at 2.033 and 1.672which was tested on September 23rd. The 50-day SMA is 2.060.

Courtesy of Thomson / Reuters


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Comex Gold ($1622.3) Semiannual and annual value levels are $1469.9 and $1,356.5 with weekly,daily and semiannual pivots at $1625.8, $1638.3 and $1644.8, and quarterly and monthly risky levels

at $1738.4 and $1811.4, and the September 6

th

all time high at $1923.7. The 200-day is $1546.0 withthe 50-day at $1745.1.


Nymex Crude Oil ($86.31) The October 4th year-to-date low is $74.95 with my weekly pivot at

$87.14, the 200-week at $83.54, the 50-day at $85.17, a daily pivot at $86.58, and monthly, quarterlyand annual risky levels at $98.51, $100.34, $99.91 and $101.92.



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The Euro (1.3778) Weekly, and quarterly value levels are 1.3202 and 1.2598 with daily, monthly andsemiannual risky levels at 1.3888, 1.4579, 1.4752 and 1.4872. The 50-day, 200-day and 200-week

SMAs are 1.3890, 1.4084 and 1.3991.


Daily Dow - (11,542) The October 4th YTD low is 10,404.49 with annual, daily and weekly pivots at11,491, 11,594 and 11,650, and monthly and quarterly risky levels at 12,091 and 12,507 with the YTDhigh at 12,876.00. Semiannual value levels are 9,635 and 8,468. The 50-day is 11,235 with the 200-

day at 11,965.



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S&P 500 (1215.4) The October 4th YTD low is 1074.77 with semiannual value levels at 981.3 and855.7, the 50-day at 1177.0, my annual pivot at 1210.7, daily and weekly risky levels at 1226.9 and

1230.6, and monthly, quarterly and annual risky levels at 1259.8, 1303.7 and 1562.9. The YTD high is1370.58.

NASDAQ (2599) The October 4th YTD low is 2298.89 with my annual value level at 2335,semiannual value levels at 2199 and 2049, the 50-day at 2518, daily, monthly, weekly, and quarterlyrisky levels at 2667, 2680, 2717, and 2807, and the YTD high at 2887.75. My annual risky level is3243.

NASDAQ 100 (NDX) (2306) The YTD low is 2034.92 with semiannual and annual value levels at1951, 1861 and 1723, the 50-day and 200-day SMAs at 2215 and 2294, my monthly pivot at 2312,daily, weekly, and quarterly risky levels at 2372, 2427, and 2440, the YTD high at 2437.42 and annualrisky level at 2590.

Dow Transports (4710) The October 4th YTD low is 3950.66 with semiannual value levels at 4335and 3868, the 50-day at 4462, my weekly pivot at 4687, and daily, monthly, annual and quarterly riskylevels at 4755, 4980, 5179 and 5359, and the YTD high at 5627.85.

Russell 2000 (696.42) The October 4th YTD low is 601.71 with semiannual value levels at 577.47and 530.04, the 50-day at 684.58, my weekly pivot at 713.00, and daily, monthly, annual and quarterlyrisky levels at 711.94, 778.77, 784.16 and 802.96, and the YTD high at 868.57.

The SOX (363.88) The October 4th YTD low is 322.24 with annual and semiannual value levels at270.98, 258.97 and 204.67, the 50-day at 356.66, my monthly pivot at 363.01, and daily, weekly andquarterly risky levels at 375.26, 392.52 and 417.63, and the YTD high at 450.79.

Equity Fundamentals Stocks are extremely undervalued. 82.1% of all stocks are undervalued / 17.9% of all stocks are overvalued. In March 2009 we

saw 91.1% of all stocks undervalued. All sixteen sectors are undervalued, fifteen by double-digit percentages, eight by 20.1% to

25.2%, as the 30-Year bond yield starts to rise putting a drag on valuations. Back in March 200the sectors were undervalued by 33% to 45%. Check out and subscribe towww.ValuEngine.com.

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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 8.0

is 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 priceweakness. 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 multiplelong 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 weaknes

to the Value Level. Risky Level The price at which you establish an addition short position on share price

strength. 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.

I Hold No Positions in the Stocks I Cover.

weekly closes above the five-week mmas are positive

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