Richard Suttmeier is the Chief Market Strategist at www.ValuEngine.com. ValuEngine is a fundamentally-based quant research firm in Melbourne, FL.

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September 17, 2013 Nasdaq failed just shy of my semiannual risky level at 3759.

The yield on the US Treasury 10-Year note declined to 2.776% on the Larry Summers withdrawal from consideration for the next Fed Chief. After the dust settled this yield rose to 2.875%. The yield on the 30-year bond fell to 3.779% then rose to 3.874%. The weekly chart for the 10-Year note still shows that the rise in yields remains overdone, with the five-week MMA at 2.763 and the 200-week SMA at 2.535%. The weekly chart for the yield on the 30-Year bond also shows that the rise in yields is overdone. The five-week MMA is 3.758% with the 200-week SMA at 3.644%. Gold rose to $1336.0 the Troy ounce on Monday then faded back to $1307.2. The weekly chart shifts to negative this week with a close on Friday below the five-week MMA at $1341.0. Mondays high was a failed test of the 50-day SMA at $1334.0. Crude oil slipped to a days low at $106.10 per barrel on Monday with the close below the 50-day SMA at $106.55. The weekly chart remains overbought with the five-week MMA at $106.55 and the 200week SMA at $90.79. . The euro vs. the dollar has a neutral weekly chart profile with flat momentum with the five-week MMA at 1.3258 and the 200-week SMA at 1.3352. 10-Year Note (2.875) Daily, weekly and semiannual value levels are 2.933, 3.045 and 3.227 with monthly, annual, and semiannual risky levels at 2.725, 2.476, 1.981 and 1.719. Comex Gold ($1309.4) Daily and monthly value levels are $1304.7 and $1224.6 with weekly, annual, quarterly and annual risky levels at $1406.2, $1599.9, $1603.0 and $1852.1. Nymex Crude Oil ($106.24) Monthly and quarterly value levels are $105.67 and $91.75 with a weekly pivot at $106.43 and daily, semiannual and annual risky levels at $108.80, $109.84 and $115.23. The Euro (1.3333) Monthly and semiannual value levels are 1.3111, 1.2756 and 1.2477 with an annual and daily pivots at 1.3257 and 1.3323, and weekly and annual risky levels at 1.3450 and 1.4295. The Nasdaq set a new multi-year high at 3756.24 on Sep. 16 vs. its semiannual risky level at 3759. The all time highs remain in place at 15,658.43 Dow Industrials set on Aug. 2, 1709.67 S&P 500 set on Aug 2, and 6686.86 Dow Transports set Aug 1. The Russell 2000 squeezed out a new all time high at 1065.25 set at Sep. 16. My monthly and semiannual risky levels remain 16,336 / 16,490 Dow Industrials, 1766.8 / 1743.5 S&P 500, 3772 / 3759 Nasdaq, 7061 / 7104 Dow Transports and 1093.07 / 1089.42 Russell 2000. This weeks value levels are 14,950 Dow Industrials, 1658.2 S&P 500, 6330

Dow Transports and 1031.24 Russell 2000 with a weekly pivot at 3727 on the Nasdaq. My quarterly and annual value levels remain at 14,288 / 12,696 Dow Industrials, 1525.6 / 1348.3 S&P 500, 3284 / 2806 Nasdaq, 5348 / 5469 Dow Transports, and 863.05 / 860.25 / 809.54 Russell 2000. The major averages are above their 50-day SMAs at 15,284 Dow Industrials, 1673.87 S&P 500, 3630 Nasdaq, 6452 Dow Transports and 1039.35 Russell 2000. Daily Dow: (15,495) Weekly, semiannual, quarterly and annual value levels are 14,950, 14,724, 14,288 and 12,696 with a daily risky level at 15,537, the August 2 all time high at 15,658.43, and monthly and semiannual risky levels at 16,336 and 16,490. S&P 500 (1697.6) Weekly, semiannual, quarterly and annual value levels are 1658.2, 1606.9, 1525.6 and 1348.3 with a daily risky level at 1707.3, the August 2 all time high at 1709.67, and monthly and semiannual risky levels at 1766.8 and 1743.5. NASDAQ (3718) Semiannual, quarterly and annual value levels are 3668, 3592, 3284 and 2806 with a weekly pivot at 3727, the September 16 multi-year high at 3756.24, and daily, monthly and semiannual risky levels at 3763, 3772 and 3759. NASDAQ 100 (NDX) (3169) Quarterly and annual value levels are 2983 and 2463 with a monthly risky level at 3185, the September 16 multi-year high at 3204.59, and weekly, daily and semiannual risky levels at 3200, 3206 and 3304. Dow Transports (6597) Weekly, annual and quarterly value levels are 6330, 5925, 5469 and 5348 with a daily risky level at 6682, the August 1 all time high at 6686.86, and monthly and semiannual risky levels at 7061 and 7104. Russell 2000 (1056.25) Weekly, quarterly and annual value levels are 1031.24, 863.05, 860.25 and 809.54 with the September 16 all time high at 1065.25, and daily, monthly and semiannual risky levels at 1070.05, 1093.07 and 1089.42. The SOX (490.35) Weekly, quarterly and annual value levels are 461.34, 404.59 and 338.03 with daily, monthly and semiannual risky levels at 497.16, 516.08 and 533.56. Dow Utilities: (477.32) My weekly value level is 468.35 with a daily pivot at 478.61, and semiannual, quarterly, semiannual, monthly and annual risky levels at 481.92, 510.38, 523.33, 530.89 and 540.37. To learn more about ValuEngine check out www.ValuEngine.com. Any comments or questions contact me at RSuttmeier@gmail.com.
"Buy and Trade Replaces Buy and Hold" An Evening with ValuEngine Chief Market Strategist Richard Suttmeier Florida AAII Chapter Meeting, Wednesday, September 18, 2013 at 6:30PM

University Club of Winter Park 841 N. Park Ave. Winter Park, FL 32789
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