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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March 7, 2014 The S&P 500 and Nasdaq set new highs again on Thursday.

The major equity averages are above their semiannual pivots / value levels at 16245 Dow Industrials, 1764.4 S&P 500, 3920 Nasdaq, 7245 Dow Transports and 1133.29 Russell 2000. A quarterly value level is 7086 Dow Transports with quarterly pivots at 4274 Nasdaq, 1180.35 Russell 2000 and quarterly risky levels at 16761 Dow Industrials and 1896.0 S&P 500. Wednesdays new all-time or multiyear highs were 1881.94 S&P 500 and 4371.71 on the Nasdaq. Monthly risky levels are 16644 Dow Industrials, 1930.7 S&P 500, 4567 Nasdaq, 7802 Dow Transports and 1253.12 Russell 2000. Dow Industrials: (16,422) Semiannual, weekly and annual value levels are 16,245, 15,790, 14,835 and 13,467 with a daily pivot at 16,400, the Dec. 31 all-time intraday high at 16,588.25 and monthly, quarterly and semiannual risky levels at 16,644, 16,761 and 16,860. S&P 500 (1877.0) Weekly, semiannual and annual value levels are 1823.0, 1797.3, 1764.4, 1539.1 and 1442.1 with a daily pivot at 1874.9, the March 6 all-time intraday high at 1881.94, and quarterly and monthly risky levels at 1896.0 and 1930.7. NASDAQ (4352) Semiannual and annual value levels are 3930, 3920, 3471 and 3063 with semiannual, weekly and pivots at 4274, 4280 and 4351, the March 6 multiyear intraday high at 4371.71 and monthly risky level at 4567. NASDAQ 100 (NDX) (3721) Semiannual and annual value levels are 3456, 3458, 3078 and 2669 with daily, weekly and quarterly pivots at 3716, 3684 and 3714, the March 6 multiyear intraday high at 3738.32 and monthly risky level at 3925. Dow Transports (7560) Daily, weekly, semiannual, quarterly and annual value levels are 7461, 7338, 7376, 7245, 7086, 6249 and 5935 with the Jan. 23 all-time intraday high at 7591.43 and monthly risky level at 7802. Russell 2000 (1204.54) Weekly, semiannual and annual value levels are 1156.00, 1133.29, 1130.79, 966.72 and 879.39 with quarterly and daily pivots at 1180.35 and 1209.15, the March 4 all-time intraday high at 1212.82 and monthly risky level at 1253.12. The SOX (575.02) Quarterly, semiannual and annual value levels are 536.98, 490.52, 371.58 and 337.74 with semiannual, monthly, daily and weekly pivots at 548.36, 561.69, 570.98 and 565.14 and March 5 multiyear intraday high at 572.58. Dow Utilities: (512.56) Daily, monthly, semiannual, annual and quarterly value levels are 510.40, 510.88, 504.74, 497.53 and 496.84 with semiannual, weekly and annual risky levels at 524.37, 533.97 and 548.70.

The yield on the US Treasury 10-Year note (2.740%) is above its 21-day and 200-day SMAs at 2.704% and 2.649% and below its 50-day SMA at 2.791%. The weekly chart shows this yield below its five-week MMA at 2.740% and above its 200-week SMA at 2.423%. The yield on the US Treasury 30-Year bond (3.691%) is above its 21-day and 200-day SMAs at 3.660% and 3.681% and below its 50-day SMA at 3.691%. The weekly chart shows this yield below its five-week MMA at 3.697% and above its 200-week SMA at 3.544%. Comex Gold ($1351.8) remains above its 200-day SMA at $1303.1 and its 21-day and 50-day SMAs at $1313.4 and $1269.0 on a neutral daily chart. The weekly chart is positive but overbought with its 5week MMA at $1298.6 and the 200-week SMA at $1492.0. Nymex Crude Oil ($101.51) remains above its 21-day, 50-day and 200-day SMAs at $101.42, $98.23 and $100.02. The weekly chart is positive but overbought with its five-week MMA at $99.91 and the 200-week SMA at $93.14. The Euro (1.3861) has a positive daily chart with the 21-day, 50-day and 200-day SMAs at 1.3720, 1.3662 and 1.3464 with my monthly risky level at 1.4112. The weekly chart is positive with its fiveweek MMA at 1.3714 and the 200-week SMA at 1.3323. To learn more about ValuEngine check out www.ValuEngine.com. Any comments or questions contact me at RSuttmeier@gmail.com.