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Oc t . 15, 2014 Dow Tr anspor t s cl osed j ust above i t s 200-day SMA at 7884.

Last week ended with the Sept. 19 all-time or multiyear highs confirmed as cycle highs for the five
major averages.

All five major equity averages are below their five-week modified moving averages at 16928 Dow
Industrials, 1966.0 on S&P 500, 4461 Nasdaq, 8344 Dow Transports and 1122.73 Russell 2000 with
declining 12x3x3 weekly slow stochastics. This is a full-fledged sell signal.

The Dow 30, S&P 500, Nasdaq and Russell 2000 are below their 200-day simple moving averages at;
16591, 1905.6, 4301 and 1148.55. Dow Transports rebounded to a close just above its 200-day simple
moving average at 7884.

The all-time or multiyear intraday highs are 17350.84 (Sept. 19) Dow Industrials, 2019.26 (Sept. 19)
S&P 500, 4610.57 (Sept 19) Nasdaq, 8714.94 (Sept. 19) Dow Transports, and 1213.55 (J uly 1)
Russell 2000).

This weeks risky levels are 17274 Dow Industrials, 1991.3 S&P 500, 4510 Nasdaq, 8487 Dow
Transports and 1112.36 on the Russell 2000.

Monthly and quarterly risky levels are 17779 and 18045 Dow Industrials, 2079.2 and 2094.6 S&P 500,
4609 and 4713 Nasdaq, 8790 and 9418 Dow Transports and 1159.82 and 1292.59 on Russell 2000.

Semiannual pivots and annual value levels are at 16301, 14835 and 13437 Dow Industrials, 1789.3,
1539.1 and 1442.1 S&P 500, 3972, 3471 and 3063 Nasdaq, 7423, 6249 and 5935 Dow Transports
and 966.72 and 879.39 Russell 2000.

Semiannual risky levels remain at 18522 Dow Industrials, 2080.3 S&P 500, 4642 Nasdaq and 1285.37
on the Russell 2000. Semiannual pivots remain at 8447 Dow Transports and 1139.81 Russell 2000.

Dow Industrials: (16315) Annual value levels are 14835 and 13467 with a semiannual pivot at 16301,
daily and weekly risky levels at 16503 and 17274, the Sept. 19 all-time intraday high at 17350.64 and
monthly, quarterly and semiannual risky levels at 17779, 18045 and 18552.
S&P 500 (1877.7) Semiannual and annual value levels are 1789.3, 1539.1 and 1442.1 with daily
and weekly risky levels at 1898.5 and 1991.3, the Sept. 19 all-time intraday high at 2019.26, and
monthly, quarterly and semiannual risky levels at 2079.2, 2094.2 and 2080.3.
NASDAQ (4227) Semiannual and annual value levels are 3972, 3471 and 3063 with daily, weekly
and monthly risky levels at 4260, 4510 and 4609, the Sept. 19 multiyear intraday high at 4610.57 and
semiannual and quarterly risky levels at 4691 and 4713.


NASDAQ 100 (NDX) (3810) Semiannual and annual value levels are 3515, 3078 and 2669 with
daily, quarterly, weekly and semiannual risky levels at 3861, 4033, 4060 and 4105, the Sept. 19
multiyear intraday high at 4118.91, and monthly risky level at 4152.

Dow Transports (7919) Semiannual and annual value levels are 7423, 6249 and 5935 with a daily
pivot at 7872, semiannual and weekly risky levels at 8447 and 8487, the Sept. 19 all-time intraday high
at 8714.94, and monthly and quarterly risky levels at 8790 and 9418.
Russell 2000 (1061.60) Daily and annual value levels are 1051.76, 966.72 and 879.39 with weekly,
semiannual and monthly risky levels at 1112.36, 1139.81 and 1159.82, the J uly 1 all-time intraday high
at 1213.55 and semiannual and quarterly risky levels at 1285.37 and 1292.59.
The SOX (559.67) Semiannual and annual value levels are 512.94, 371.58 and 337.74 with a daily
pivot at 558.22, semiannual and weekly risky levels at 608.03 and 623.16, the Sept. 19 multiyear
intraday high 659.64, and quarterly and monthly risky levels at 687.65 and 691.22.

Dow Utilities: (566.21) Quarterly, annual, semiannual and annual value levels are 553.35, 548.70,
523.72 and 497.53 with daily and weekly pivots levels at 568.67 and 566.99, the J une 30 all-time
intraday high at 576.98, and monthly and semiannual risky levels at 589.67 and 612.49.
10-Year Note (2.196) Annual, daily, monthly, weekly and quarterly value levels are 2.263,2.274,
2.4488, 2.537 and 3.258 with semiannual and annual risky levels at 1.999 and 1.779.
30-Year Bond (2.948) Daily, semiannual, monthly, annual, weekly, and quarterly value levels are
3.015, 3.082, 3.089,3, 3.202, 3.283 and 3.963 with a semiannual risky level at 2.487.
Comex Gold ($1233.2) Daily, weekly and quarterly value levels are $1225.2, $1162.8 and $906.43
with monthly, semiannual and annual risky levels at $1305.2, $1613.0, $1738.7 and $1747.4.
Nymex Crude Oil ($81.93) Daily and weekly pivot are $81.24 and $85.62 with monthly, quarterly,
semiannual, annual and quarterly risky levels at $100.07, $102.66, $106.48 and $107.52.
The Euro (1.2658) Weekly and semiannual value levels are 1.2279 and 1.2203 with a daily pivot at
1.2639 and monthly, annual and quarterly risky levels at 1.3309, 1.3382 and 1.3603.

The Dollar versus Japanese Yen (106.99) Monthly and annual value levels are 105.94 and 93.38
with a daily pivot at 107.46 and weekly and quarterly risky levels at 111.84 and 123.64.

The British Pound (1.5909) A weekly value level is 1.5836 with a daily pivot at 1.5940, quarterly
and annual pivots at 1.6210 and 1.6262 and monthly and semiannual risky levels at 1.6907 and
1.7302.

To learn more about ValuEngine check out www.ValuEngine.com. Any comments or questions contact
me at RSuttmeier@gmail.com.